LSV Asset Management Reduces Position in The Chemours Company (NYSE:CC)

LSV Asset Management lowered its position in The Chemours Company (NYSE:CC) by 8.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,365,400 shares of the specialty chemicals company’s stock after selling 225,200 shares during the quarter. LSV Asset Management owned approximately 1.59% of Chemours worth $74,605,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Hexagon Capital Partners LLC purchased a new position in shares of Chemours during the fourth quarter worth about $25,000. Morton Brown Family Wealth LLC purchased a new position in shares of Chemours in the 4th quarter valued at approximately $35,000. Anchor Investment Management LLC acquired a new position in shares of Chemours in the fourth quarter valued at approximately $56,000. Geneos Wealth Management Inc. raised its stake in shares of Chemours by 116.4% during the fourth quarter. Geneos Wealth Management Inc. now owns 1,859 shares of the specialty chemicals company’s stock worth $59,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Bfsg LLC acquired a new stake in shares of Chemours during the fourth quarter worth $62,000. 76.26% of the stock is owned by institutional investors and hedge funds.

Chemours Price Performance

Shares of CC traded up $0.42 on Friday, reaching $26.57. The stock had a trading volume of 1,709,363 shares, compared to its average volume of 1,149,144. The Chemours Company has a twelve month low of $15.10 and a twelve month high of $39.05. The firm has a market capitalization of $3.96 billion, a PE ratio of -12.24 and a beta of 1.99. The firm has a 50-day moving average of $26.47 and a 200 day moving average of $27.83. The company has a quick ratio of 1.00, a current ratio of 1.61 and a debt-to-equity ratio of 5.26.

Chemours (NYSE:CC) last posted its earnings results on Tuesday, April 30th. The specialty chemicals company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.07. Chemours had a negative net margin of 5.51% and a positive return on equity of 46.67%. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same period last year, the firm posted $0.98 EPS. The firm’s revenue for the quarter was down 12.1% on a year-over-year basis. Sell-side analysts expect that The Chemours Company will post 2.16 EPS for the current year.

Chemours Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.76%. The ex-dividend date of this dividend is Tuesday, May 14th. Chemours’s payout ratio is -46.08%.

Analysts Set New Price Targets

Several equities analysts have issued reports on CC shares. UBS Group boosted their price objective on shares of Chemours from $21.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Barclays cut their price target on shares of Chemours from $32.00 to $30.00 and set an “equal weight” rating for the company in a report on Tuesday, April 2nd. Finally, BMO Capital Markets raised Chemours from an “underperform” rating to an “outperform” rating and lifted their price objective for the company from $19.00 to $34.00 in a report on Tuesday, April 9th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $31.63.

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, 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.