Fruth Investment Management Reduces Stock Holdings in The Chemours Company (NYSE:CC)

Fruth Investment Management lowered its holdings in shares of The Chemours Company (NYSE:CC) by 3.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,018 shares of the specialty chemicals company’s stock after selling 500 shares during the quarter. Fruth Investment Management’s holdings in Chemours were worth $341,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Hexagon Capital Partners LLC purchased a new position in shares of Chemours during the 4th quarter valued at about $25,000. Morton Brown Family Wealth LLC purchased a new position in Chemours during the fourth quarter valued at approximately $35,000. Neo Ivy Capital Management bought a new position in shares of Chemours in the fourth quarter worth approximately $40,000. Sunbelt Securities Inc. boosted its position in shares of Chemours by 1,969.7% in the first quarter. Sunbelt Securities Inc. now owns 1,366 shares of the specialty chemicals company’s stock worth $36,000 after purchasing an additional 1,300 shares during the period. Finally, Quarry LP increased its stake in shares of Chemours by 106.8% in the fourth quarter. Quarry LP now owns 1,700 shares of the specialty chemicals company’s stock worth $54,000 after purchasing an additional 26,700 shares in the last quarter. Institutional investors own 76.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. BMO Capital Markets raised shares of Chemours from an “underperform” rating to an “outperform” rating and upped their target price for the stock from $19.00 to $34.00 in a report on Tuesday, April 9th. UBS Group increased their target price on Chemours from $21.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. Mizuho assumed coverage on Chemours in a report on Friday, June 7th. They issued a “neutral” rating and a $25.00 price target on the stock. Finally, Barclays cut their price objective 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. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $30.13.

Chemours Price Performance

CC traded up $0.13 during trading hours on Thursday, hitting $22.69. The company’s stock had a trading volume of 421,483 shares, compared to its average volume of 1,447,070. The business’s 50-day moving average price is $25.61 and its 200-day moving average price is $27.53. The company has a current ratio of 1.61, a quick ratio of 0.99 and a debt-to-equity ratio of 5.26. The Chemours Company has a 12 month low of $15.10 and a 12 month high of $39.05.

Chemours (NYSE:CC) last announced its quarterly earnings results on Tuesday, April 30th. The specialty chemicals company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates 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 quarter last year, the firm earned $0.98 EPS. The firm’s revenue for the quarter was down 12.1% compared to the same quarter last year. On average, analysts expect that The Chemours Company will post 1.88 EPS for the current fiscal year.

Chemours Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.41%. The ex-dividend date of this dividend was Tuesday, May 14th. Chemours’s dividend payout ratio is currently -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.