Mason Street Advisors LLC Decreases Position in Chemours Co (NYSE:CC)

Mason Street Advisors LLC lessened its holdings in Chemours Co (NYSE:CC) by 1.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 85,734 shares of the specialty chemicals company’s stock after selling 1,662 shares during the quarter. Mason Street Advisors LLC owned 0.05% of Chemours worth $1,281,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. State of Tennessee Treasury Department raised its position in Chemours by 4.4% in the 3rd quarter. State of Tennessee Treasury Department now owns 58,254 shares of the specialty chemicals company’s stock worth $870,000 after purchasing an additional 2,444 shares during the period. Envestnet Asset Management Inc. raised its position in Chemours by 536.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 162,713 shares of the specialty chemicals company’s stock worth $3,905,000 after purchasing an additional 137,143 shares during the period. Victory Capital Management Inc. raised its position in Chemours by 74.5% in the 2nd quarter. Victory Capital Management Inc. now owns 98,548 shares of the specialty chemicals company’s stock worth $2,365,000 after purchasing an additional 42,074 shares during the period. Boenning & Scattergood Inc. raised its position in Chemours by 3.2% in the 3rd quarter. Boenning & Scattergood Inc. now owns 37,576 shares of the specialty chemicals company’s stock worth $561,000 after purchasing an additional 1,160 shares during the period. Finally, Creative Planning raised its position in Chemours by 37.8% in the 3rd quarter. Creative Planning now owns 22,971 shares of the specialty chemicals company’s stock worth $343,000 after purchasing an additional 6,306 shares during the period. Institutional investors own 75.65% of the company’s stock.

A number of equities analysts recently commented on the stock. Royal Bank of Canada cut shares of Chemours from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $32.00 to $16.00 in a research report on Friday, August 9th. ValuEngine cut shares of Chemours from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Argus cut shares of Chemours from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Cfra upgraded shares of Chemours from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Finally, UBS Group decreased their price objective on shares of Chemours from $19.00 to $14.50 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $27.14.

In other Chemours news, COO Mark Newman acquired 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were acquired at an average price of $16.42 per share, with a total value of $328,400.00. Following the completion of the purchase, the chief operating officer now directly owns 114,261 shares of the company’s stock, valued at approximately $1,876,165.62. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.34% of the company’s stock.

NYSE:CC opened at $18.43 on Monday. Chemours Co has a one year low of $11.71 and a one year high of $41.60. The company has a debt-to-equity ratio of 5.05, a current ratio of 1.72 and a quick ratio of 0.98. The company’s 50-day simple moving average is $16.02 and its 200 day simple moving average is $19.22. The firm has a market capitalization of $3.03 billion, a P/E ratio of 3.25, a PEG ratio of 0.49 and a beta of 2.57.

Chemours (NYSE:CC) last posted its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.56 by $0.03. Chemours had a net margin of 7.24% and a return on equity of 58.38%. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the previous year, the firm posted $1.49 earnings per share. Chemours’s quarterly revenue was down 14.6% on a year-over-year basis. On average, equities research analysts expect that Chemours Co will post 2.43 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 5.43%. The ex-dividend date is Thursday, November 14th. Chemours’s payout ratio is currently 17.64%.

Chemours 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, Fluoroproducts, and Chemical Solutions. The Titanium Technologies segment manufactures and sells titanium dioxide under the Ti-Pure and BaiMax brands for various applications in architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride window profiles, laminate papers used for furniture and building materials, and coated papers and paperboards used for packaging.

Further Reading: What is diluted earnings per share (Diluted EPS)?

Institutional Ownership by Quarter for Chemours (NYSE:CC)

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