Coastline Trust Co Sells 2,960 Shares of The Chemours Company (NYSE:CC)

Coastline Trust Co reduced its position in shares of The Chemours Company (NYSE:CC) by 48.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,150 shares of the specialty chemicals company’s stock after selling 2,960 shares during the quarter. Coastline Trust Co’s holdings in Chemours were worth $53,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in CC. Covalis Capital LLP bought a new position in shares of Chemours during the fourth quarter valued at approximately $8,768,000. Dimensional Fund Advisors LP raised its stake in Chemours by 22.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,779,702 shares of the specialty chemicals company’s stock worth $30,077,000 after buying an additional 328,414 shares in the last quarter. First Trust Advisors LP lifted its holdings in Chemours by 26.7% in the fourth quarter. First Trust Advisors LP now owns 496,255 shares of the specialty chemicals company’s stock worth $8,387,000 after buying an additional 104,506 shares during the period. Guggenheim Capital LLC boosted its position in Chemours by 90.8% during the 4th quarter. Guggenheim Capital LLC now owns 44,421 shares of the specialty chemicals company’s stock valued at $751,000 after acquiring an additional 21,137 shares in the last quarter. Finally, Icon Advisers Inc. Co. grew its holdings in shares of Chemours by 10.7% during the 4th quarter. Icon Advisers Inc. Co. now owns 436,365 shares of the specialty chemicals company’s stock worth $7,375,000 after acquiring an additional 42,300 shares during the period. Institutional investors own 76.26% of the company’s stock.

Chemours Trading Up 3.1 %

Shares of NYSE:CC opened at $11.37 on Friday. The company has a debt-to-equity ratio of 6.70, a current ratio of 1.68 and a quick ratio of 0.92. The Chemours Company has a 1 year low of $9.33 and a 1 year high of $29.21. The company has a market cap of $1.70 billion, a P/E ratio of 19.94 and a beta of 1.84. The stock’s fifty day moving average price is $13.83 and its 200-day moving average price is $17.31.

Chemours (NYSE:CC) last posted its earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.01. Chemours had a net margin of 1.51% and a return on equity of 26.54%. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Sell-side analysts expect that The Chemours Company will post 2.03 earnings per share for the current year.

Chemours Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 8.80%. The ex-dividend date of this dividend was Friday, February 28th. Chemours’s payout ratio is currently 175.44%.

Wall Street Analysts Forecast Growth

CC has been the topic of several recent research reports. Barclays reduced their price target on Chemours from $19.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 1st. BMO Capital Markets cut their price objective on shares of Chemours from $34.00 to $27.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Mizuho set a $15.00 target price on shares of Chemours in a report on Tuesday. Truist Financial cut their price target on Chemours from $27.00 to $22.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Finally, Morgan Stanley cut their target price on Chemours from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.56.

About Chemours

The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. It operates through three segments: Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure brand for delivering whiteness, brightness, opacity, durability, efficiency, and protection in various of applications, such as architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride, laminate papers used for furniture and building materials, coated paper, and coated paperboard used for packaging.