Vaughan Nelson Investment Management L.P. Sells 657,560 Shares of The Chemours Company (NYSE:CC)

Vaughan Nelson Investment Management L.P. lessened its stake in The Chemours Company (NYSE:CC) by 23.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,166,741 shares of the specialty chemicals company’s stock after selling 657,560 shares during the quarter. Vaughan Nelson Investment Management L.P.’s holdings in Chemours were worth $44,028,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CC. Matrix Trust Co purchased a new position in Chemours during the 3rd quarter valued at approximately $25,000. Blue Trust Inc. boosted its position in shares of Chemours by 166.9% during the 3rd quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company’s stock valued at $26,000 after acquiring an additional 731 shares during the last quarter. New Covenant Trust Company N.A. purchased a new position in shares of Chemours in the first quarter valued at $29,000. Signaturefd LLC increased its position in Chemours by 163.7% in the third quarter. Signaturefd LLC now owns 1,959 shares of the specialty chemicals company’s stock worth $40,000 after purchasing an additional 1,216 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in Chemours during the first quarter valued at $42,000. Institutional investors own 76.26% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on CC shares. Barclays lifted their price objective on shares of Chemours from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. UBS Group dropped their price target on Chemours from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. The Goldman Sachs Group decreased their price objective on Chemours from $29.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 3rd. Royal Bank of Canada dropped their target price on Chemours from $28.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. decreased their price target on Chemours from $25.00 to $18.00 and set a “neutral” rating on the stock in a report on Tuesday, August 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.com, the stock presently has a consensus rating of “Hold” and an average price target of $24.88.

Chemours Trading Down 0.9 %

CC opened at $18.89 on Friday. The company has a debt-to-equity ratio of 6.05, a quick ratio of 0.92 and a current ratio of 1.73. The stock’s 50 day moving average price is $19.12 and its 200-day moving average price is $21.77. The Chemours Company has a one year low of $15.10 and a one year high of $32.70. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of 37.78 and a beta of 1.75.

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

Chemours Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a yield of 5.29%. Chemours’s payout ratio is 200.00%.

Insider Buying and Selling at Chemours

In other Chemours news, SVP Alvenia Scarborough sold 7,500 shares of Chemours stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $20.64, for a total transaction of $154,800.00. Following the completion of the sale, the senior vice president now directly owns 16,645 shares of the company’s stock, valued at $343,552.80. The trade was a 31.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.47% of the stock is owned by corporate insiders.

Chemours Company Profile

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.