Polar Asset Management Partners Inc. Purchases Shares of 141,536 The Chemours Company (NYSE:CC)

Polar Asset Management Partners Inc. purchased a new position in The Chemours Company (NYSE:CC - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 141,536 shares of the specialty chemicals company's stock, valued at approximately $2,392,000. Polar Asset Management Partners Inc. owned 0.09% of Chemours as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Quadrant Capital Group LLC raised its stake in shares of Chemours by 100.4% in the fourth quarter. Quadrant Capital Group LLC now owns 2,234 shares of the specialty chemicals company's stock worth $38,000 after purchasing an additional 1,119 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Chemours during the fourth quarter valued at about $48,000. Itau Unibanco Holding S.A. boosted its position in shares of Chemours by 39.3% during the 4th quarter. Itau Unibanco Holding S.A. now owns 3,554 shares of the specialty chemicals company's stock worth $60,000 after purchasing an additional 1,003 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Chemours in the fourth quarter valued at $91,000. Finally, KBC Group NV lifted its holdings 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 buying an additional 1,708 shares in the last quarter. Institutional investors own 76.26% of the company's stock.

Chemours Stock Performance

Shares of CC traded up $0.04 during midday trading on Friday, reaching $10.15. 5,382,309 shares of the stock were exchanged, compared to its average volume of 3,003,662. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 17.81 and a beta of 1.76. The business's 50-day moving average price is $11.63 and its 200 day moving average price is $15.74. The company has a debt-to-equity ratio of 6.70, a current ratio of 1.68 and a quick ratio of 0.92. The Chemours Company has a twelve month low of $9.33 and a twelve month high of $26.22.

Chemours (NYSE:CC - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The specialty chemicals company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.19 by ($0.06). The company had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.36 billion. Chemours had a return on equity of 26.54% and a net margin of 1.51%. The business's quarterly revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.32 EPS. On average, sell-side analysts expect that The Chemours Company will post 2.03 EPS for the current fiscal year.

Chemours Dividend Announcement

The business also recently declared a dividend, which will be paid on Monday, June 16th. Investors of record on Monday, May 19th will be issued a dividend of $0.0875 per share. This represents a dividend yield of 3.17%. The ex-dividend date of this dividend is Friday, May 16th. Chemours's dividend payout ratio is presently 175.00%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Truist Financial cut their price target on Chemours from $27.00 to $22.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Barclays reduced their target price on shares of Chemours from $16.00 to $13.00 and set an "equal weight" rating on the stock in a report on Wednesday. The Goldman Sachs Group lowered their price target on shares of Chemours from $21.00 to $14.00 and set a "neutral" rating for the company in a report on Wednesday, May 14th. Morgan Stanley reduced their price objective on shares of Chemours from $22.00 to $15.00 and set an "equal weight" rating on the stock in a report on Monday, May 12th. Finally, Royal Bank of Canada lowered their target price on shares of Chemours from $17.00 to $14.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $17.22.

Insider Activity at Chemours

In other Chemours news, CFO Shane Hostetter purchased 4,450 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The shares were purchased at an average cost of $11.28 per share, for a total transaction of $50,196.00. Following the completion of the purchase, the chief financial officer now directly owns 59,694 shares in the company, valued at $673,348.32. This represents a 8.06% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.34% of the stock is currently owned by insiders.

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.