Polar Asset Management Partners Inc. Takes $2.39 Million Position in The Chemours Company (NYSE:CC)

Polar Asset Management Partners Inc. purchased a new position in shares of The Chemours Company (NYSE:CC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 141,536 shares of the specialty chemicals company's stock, valued at approximately $2,392,000. Polar Asset Management Partners Inc. owned about 0.09% of Chemours at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CC. Norges Bank acquired a new stake in Chemours in the 4th quarter valued at $30,702,000. Bank of Montreal Can grew its stake in Chemours by 1,496.4% in the 4th quarter. Bank of Montreal Can now owns 953,240 shares of the specialty chemicals company's stock valued at $16,110,000 after acquiring an additional 893,530 shares during the period. Ameriprise Financial Inc. grew its stake in Chemours by 23.8% in the 4th quarter. Ameriprise Financial Inc. now owns 4,373,172 shares of the specialty chemicals company's stock valued at $73,907,000 after acquiring an additional 839,849 shares during the period. Millennium Management LLC grew its stake in Chemours by 44.6% in the 4th quarter. Millennium Management LLC now owns 2,507,262 shares of the specialty chemicals company's stock valued at $42,373,000 after acquiring an additional 773,537 shares during the period. Finally, Invesco Ltd. grew its stake in Chemours by 141.5% in the 4th quarter. Invesco Ltd. now owns 1,020,001 shares of the specialty chemicals company's stock valued at $17,238,000 after acquiring an additional 597,638 shares during the period. 76.26% of the stock is owned by hedge funds and other institutional investors.

Chemours Trading Up 0.4%

CC traded up $0.04 on Friday, hitting $10.15. The company had a trading volume of 5,382,386 shares, compared to its average volume of 2,143,667. The firm has a market cap of $1.52 billion, a P/E ratio of 17.81 and a beta of 1.76. The Chemours Company has a 1 year low of $9.33 and a 1 year high of $25.80. The company's fifty day moving average price is $11.55 and its 200 day moving average price is $15.65. The company has a current ratio of 1.68, a quick ratio of 0.92 and a debt-to-equity ratio of 6.70.

Chemours (NYSE:CC - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The specialty chemicals company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.06). The company had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.36 billion. Chemours had a net margin of 1.51% and a return on equity of 26.54%. The firm's quarterly revenue was up .4% on a year-over-year basis. During the same quarter last year, the firm posted $0.32 earnings per share. As a group, equities analysts expect that The Chemours Company will post 2.03 earnings per share for the current year.

Chemours Dividend Announcement

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

Insider Activity at Chemours

In other Chemours news, CFO Shane Hostetter acquired 4,450 shares of the stock in a transaction dated Monday, May 19th. The stock was acquired at an average price of $11.28 per share, with a total value of $50,196.00. Following the completion of the purchase, the chief financial officer now owns 59,694 shares in the company, valued at $673,348.32. This trade represents a 8.06% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.34% of the stock is owned by insiders.

Analyst Ratings Changes

CC has been the topic of a number of research analyst reports. Morgan Stanley dropped their price target on shares of Chemours from $22.00 to $15.00 and set an "equal weight" rating on the stock in a research note on Monday, May 12th. Barclays lowered their target price on shares of Chemours from $16.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Wednesday. BMO Capital Markets lowered their target price on shares of Chemours from $34.00 to $27.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 19th. Truist Financial lowered their target price on shares of Chemours from $27.00 to $22.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Mizuho set a $15.00 target price on shares of Chemours in a research note on Tuesday, April 15th. One research 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 data from MarketBeat, Chemours presently has an average rating of "Hold" and a consensus price target of $17.22.

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.