M&T Bank Corp Has $17.05 Million Position in The Chemours Company (NYSE:CC)

M&T Bank Corp lowered its holdings in The Chemours Company (NYSE:CC) by 3.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 540,660 shares of the specialty chemicals company’s stock after selling 17,805 shares during the quarter. M&T Bank Corp’s holdings in Chemours were worth $17,053,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CC. Hexagon Capital Partners LLC acquired a new stake in shares of Chemours during the fourth quarter worth approximately $25,000. Morton Brown Family Wealth LLC bought a new position in Chemours in the 4th quarter valued at $35,000. Anchor Investment Management LLC acquired a new position in Chemours in the fourth quarter worth $56,000. Geneos Wealth Management Inc. grew its holdings 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 in the fourth quarter valued at $62,000. Institutional investors and hedge funds own 76.26% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Chemours Trading Up 1.6 %

NYSE CC traded up $0.42 on Friday, reaching $26.57. The company had a trading volume of 1,709,363 shares, compared to its average volume of 1,149,144. The company has a quick ratio of 1.00, a current ratio of 1.61 and a debt-to-equity ratio of 5.26. The Chemours Company has a 52 week low of $15.10 and a 52 week high of $39.05. The stock has a market cap of $3.96 billion, a price-to-earnings ratio of -12.24 and a beta of 1.99. The stock’s 50 day moving average is $26.47 and its 200-day moving average is $27.83.

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

Chemours Dividend Announcement

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

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.