Covalis Capital LLP Makes New $8.77 Million Investment in The Chemours Company (NYSE:CC)

Covalis Capital LLP bought a new position in shares of The Chemours Company (NYSE:CC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 518,840 shares of the specialty chemicals company's stock, valued at approximately $8,768,000. Chemours makes up 1.3% of Covalis Capital LLP's investment portfolio, making the stock its 28th largest holding. Covalis Capital LLP owned about 0.35% of Chemours at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CC. GAMMA Investing LLC boosted its stake in shares of Chemours by 99.7% in the 4th quarter. GAMMA Investing LLC now owns 1,532 shares of the specialty chemicals company's stock valued at $26,000 after purchasing an additional 765 shares in the last quarter. Quadrant Capital Group LLC grew its stake in shares of Chemours by 100.4% during the fourth quarter. Quadrant Capital Group LLC now owns 2,234 shares of the specialty chemicals company's stock worth $38,000 after buying an additional 1,119 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Chemours during the 4th quarter valued at $48,000. KBC Group NV grew its position in Chemours by 38.2% during the 4th quarter. KBC Group NV now owns 6,176 shares of the specialty chemicals company's stock worth $104,000 after acquiring an additional 1,708 shares during the last quarter. Finally, Sterling Capital Management LLC increased its holdings in Chemours by 54.8% in the 4th quarter. Sterling Capital Management LLC now owns 8,453 shares of the specialty chemicals company's stock worth $143,000 after purchasing an additional 2,991 shares in the last quarter. 76.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CC shares. BMO Capital Markets dropped their price objective on shares of Chemours from $34.00 to $27.00 and set an "outperform" rating for the company in a report on Wednesday, February 19th. Barclays decreased their target price on shares of Chemours from $19.00 to $16.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 1st. The Goldman Sachs Group decreased their price objective on shares of Chemours from $24.00 to $21.00 and set a "neutral" rating for the company in a research report on Tuesday, January 7th. Mizuho set a $15.00 price target on shares of Chemours in a research report on Tuesday, April 15th. Finally, Morgan Stanley lowered their price objective on Chemours from $25.00 to $22.00 and set an "equal weight" rating for the company in a research report on Monday, January 13th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, Chemours presently has a consensus rating of "Moderate Buy" and a consensus target price of $21.56.

Chemours Stock Up 2.9 %

NYSE:CC traded up $0.34 during trading hours on Thursday, hitting $12.17. 925,039 shares of the company traded hands, compared to its average volume of 2,728,925. The Chemours Company has a one year low of $9.33 and a one year high of $29.21. The company has a quick ratio of 0.92, a current ratio of 1.68 and a debt-to-equity ratio of 6.70. The company has a market cap of $1.82 billion, a PE ratio of 21.32 and a beta of 1.84. The firm's 50-day simple moving average is $13.49 and its 200-day simple moving average is $17.17.

Chemours (NYSE:CC - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The specialty chemicals company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.10 by $0.01. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.37 billion. Chemours had a net margin of 1.51% and a return on equity of 26.54%. Equities analysts predict that The Chemours Company will post 2.03 earnings per share for the current year.

Chemours Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.22%. The ex-dividend date of this dividend was Friday, February 28th. Chemours's dividend payout ratio (DPR) is currently 175.44%.

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.