Bank of New York Mellon Corp Boosts Holdings in The Chemours Company $CC

Bank of New York Mellon Corp grew its position in shares of The Chemours Company (NYSE:CC) by 8.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,054,620 shares of the specialty chemicals company’s stock after buying an additional 85,529 shares during the quarter. Bank of New York Mellon Corp’s holdings in Chemours were worth $12,075,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Versor Investments LP purchased a new stake in shares of Chemours in the second quarter valued at about $412,000. Wolverine Asset Management LLC lifted its position in Chemours by 136.1% in the second quarter. Wolverine Asset Management LLC now owns 89,718 shares of the specialty chemicals company’s stock valued at $1,027,000 after purchasing an additional 51,720 shares during the period. Peregrine Capital Management LLC lifted its position in Chemours by 20.0% in the second quarter. Peregrine Capital Management LLC now owns 385,664 shares of the specialty chemicals company’s stock valued at $4,416,000 after purchasing an additional 64,218 shares during the period. Teacher Retirement System of Texas boosted its holdings in Chemours by 15.1% in the 2nd quarter. Teacher Retirement System of Texas now owns 67,911 shares of the specialty chemicals company’s stock valued at $778,000 after purchasing an additional 8,917 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in Chemours by 105.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 41,382 shares of the specialty chemicals company’s stock valued at $474,000 after purchasing an additional 21,195 shares in the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.

Chemours Stock Performance

Shares of CC stock opened at $10.96 on Wednesday. The stock has a fifty day moving average price of $14.38 and a 200 day moving average price of $13.23. The company has a debt-to-equity ratio of 13.66, a quick ratio of 0.88 and a current ratio of 1.71. The stock has a market cap of $1.64 billion, a PE ratio of -4.94 and a beta of 1.64. The Chemours Company has a 1 year low of $9.13 and a 1 year high of $22.38.

Chemours (NYSE:CC) last announced its quarterly earnings results on Thursday, November 6th. The specialty chemicals company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.04). The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Chemours had a negative net margin of 5.70% and a positive return on equity of 35.27%. The company’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.40 EPS. Chemours has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. Sell-side analysts forecast that The Chemours Company will post 2.03 earnings per share for the current fiscal year.

Chemours Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 14th will be issued a $0.0875 dividend. This represents a $0.35 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, November 14th. Chemours’s dividend payout ratio is -15.77%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CC shares. Zacks Research downgraded Chemours from a “hold” rating to a “strong sell” rating in a research note on Friday, October 17th. Mizuho dropped their price objective on Chemours from $19.00 to $18.00 and set an “outperform” rating on the stock in a report on Thursday, October 16th. Royal Bank Of Canada cut their price objective on Chemours from $19.00 to $17.00 and set an “outperform” rating for the company in a research report on Monday, November 10th. Weiss Ratings restated a “sell (d)” rating on shares of Chemours in a research report on Wednesday, October 8th. Finally, UBS Group cut their price target on shares of Chemours from $21.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $17.50.

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.