The Chemours Company (NYSE:CC) Shares Sold by Forest Avenue Capital Management LP

Forest Avenue Capital Management LP cut its holdings in shares of The Chemours Company (NYSE:CC) by 39.2% during the third quarter, HoldingsChannel.com reports. The fund owned 514,492 shares of the specialty chemicals company’s stock after selling 331,236 shares during the quarter. Chemours makes up 1.3% of Forest Avenue Capital Management LP’s holdings, making the stock its 21st largest position. Forest Avenue Capital Management LP’s holdings in Chemours were worth $10,454,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. New Covenant Trust Company N.A. purchased a new position in Chemours during the first quarter worth approximately $29,000. Blue Trust Inc. increased its stake in Chemours by 166.9% during the third quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 731 shares during the last quarter. Matrix Trust Co acquired a new position in shares of Chemours during the third quarter valued at $25,000. Truvestments Capital LLC acquired a new position in shares of Chemours during the third quarter worth approximately $35,000. Finally, Brooklyn Investment Group bought a new position in shares of Chemours in the third quarter valued at approximately $37,000. 76.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Chemours

In other Chemours news, SVP Alvenia Scarborough sold 7,500 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $20.64, for a total value of $154,800.00. Following the completion of the transaction, the senior vice president now owns 16,645 shares in the company, valued at $343,552.80. This trade represents a 31.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.47% of the company’s stock.

Chemours Trading Down 0.1 %

Shares of Chemours stock opened at $21.92 on Wednesday. The firm’s 50 day moving average is $19.47 and its 200 day moving average is $21.44. The firm has a market capitalization of $3.27 billion, a PE ratio of 43.83 and a beta of 1.75. The Chemours Company has a 1 year low of $15.10 and a 1 year high of $32.70. The company has a current ratio of 1.73, a quick ratio of 0.92 and a debt-to-equity ratio of 6.05.

Chemours (NYSE:CC) last issued its quarterly earnings results on Monday, November 4th. The specialty chemicals company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.08. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Chemours had a return on equity of 29.48% and a net margin of 1.34%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.64 earnings per share. Equities research analysts forecast that The Chemours Company will post 1.35 earnings per share for the current fiscal year.

Chemours Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.56%. The ex-dividend date of this dividend is Friday, November 15th. Chemours’s dividend payout ratio (DPR) is presently 200.00%.

Analyst Ratings Changes

A number of brokerages recently weighed in on CC. UBS Group dropped their price target on Chemours from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. BMO Capital Markets boosted their target price on shares of Chemours from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Monday, October 7th. Barclays lifted their price target on shares of Chemours from $21.00 to $23.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Morgan Stanley cut their price objective on Chemours from $30.00 to $25.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 5th. Finally, Royal Bank of Canada decreased their target price on Chemours from $28.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $24.88.

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.