Hsbc Holdings PLC Sells 109,392 Shares of The Chemours Company $CC

Hsbc Holdings PLC cut its holdings in shares of The Chemours Company (NYSE:CC) by 47.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 122,968 shares of the specialty chemicals company’s stock after selling 109,392 shares during the quarter. Hsbc Holdings PLC owned about 0.08% of Chemours worth $1,462,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Chemours by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 17,920,868 shares of the specialty chemicals company’s stock worth $211,287,000 after acquiring an additional 490,778 shares during the period. State Street Corp boosted its holdings in Chemours by 22.7% in the 2nd quarter. State Street Corp now owns 6,114,328 shares of the specialty chemicals company’s stock valued at $70,009,000 after purchasing an additional 1,131,682 shares during the period. Ameriprise Financial Inc. grew its position in Chemours by 13.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,796,153 shares of the specialty chemicals company’s stock worth $75,971,000 after purchasing an additional 580,089 shares during the last quarter. UBS Group AG grew its position in Chemours by 0.3% in the 3rd quarter. UBS Group AG now owns 4,754,492 shares of the specialty chemicals company’s stock worth $75,311,000 after purchasing an additional 14,865 shares during the last quarter. Finally, Cooper Creek Partners Management LLC bought a new position in shares of Chemours during the 3rd quarter worth about $63,103,000. 76.26% of the stock is owned by institutional investors.

Chemours Price Performance

Shares of CC stock opened at $20.53 on Wednesday. The stock’s fifty day simple moving average is $22.76 and its 200 day simple moving average is $19.15. The company has a debt-to-equity ratio of 18.98, a current ratio of 1.82 and a quick ratio of 0.87. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of -7.78 and a beta of 1.39. The Chemours Company has a one year low of $10.44 and a one year high of $28.67.

Chemours (NYSE:CC) last released its quarterly earnings data on Tuesday, May 5th. The specialty chemicals company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.10. The firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.40 billion. Chemours had a positive return on equity of 52.49% and a negative net margin of 6.82%.The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.13 earnings per share. On average, analysts expect that The Chemours Company will post 1.07 earnings per share for the current fiscal year.

Chemours Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Sunday, May 17th were paid a dividend of $0.0875 per share. This represents a $0.35 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, May 15th. Chemours’s dividend payout ratio is currently -13.26%.

Analysts Set New Price Targets

A number of brokerages have recently commented on CC. JPMorgan Chase & Co. upped their price objective on shares of Chemours from $17.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, May 21st. Truist Financial lifted their target price on Chemours from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. UBS Group upped their price target on Chemours from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, May 8th. Alembic Global Advisors reaffirmed an “overweight” rating and issued a $30.00 target price on shares of Chemours in a research report on Wednesday, May 13th. Finally, Morgan Stanley boosted their price target on shares of Chemours from $17.00 to $21.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Six equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $24.60.

Chemours Profile

Chemours Company, established in 2015 as a spin-off from E. I. du Pont de Nemours and Company, is a global chemistry organization headquartered in Wilmington, Delaware. Since its formation, Chemours has focused on delivering performance chemicals that help customers lower their carbon footprint, increase energy efficiency and conserve water. The company operates with a commitment to safety, environmental stewardship and innovation.

Chemours’ principal business activities are organized into three core segments.