79,199 Shares in The Chemours Company (NYSE:CC) Acquired by Readystate Asset Management LP

Readystate Asset Management LP purchased a new position in shares of The Chemours Company (NYSE:CC - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 79,199 shares of the specialty chemicals company's stock, valued at approximately $1,072,000. Readystate Asset Management LP owned approximately 0.05% of Chemours as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in CC. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Chemours in the 1st quarter valued at $174,000. Allianz Asset Management GmbH grew its holdings in Chemours by 51.5% in the 1st quarter. Allianz Asset Management GmbH now owns 669,603 shares of the specialty chemicals company's stock valued at $9,060,000 after buying an additional 227,566 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Chemours by 46.0% in the 1st quarter. Victory Capital Management Inc. now owns 161,052 shares of the specialty chemicals company's stock valued at $2,179,000 after buying an additional 50,741 shares in the last quarter. Wealthfront Advisers LLC grew its holdings in Chemours by 48.0% in the 1st quarter. Wealthfront Advisers LLC now owns 48,756 shares of the specialty chemicals company's stock valued at $660,000 after buying an additional 15,813 shares in the last quarter. Finally, Edgestream Partners L.P. purchased a new stake in Chemours in the 1st quarter valued at $3,473,000. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Chemours news, CFO Shane Hostetter bought 4,450 shares of the company's stock in a transaction that occurred on Monday, May 19th. The stock was 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 owned 59,694 shares of the company's stock, valued at $673,348.32. This trade represents a 8.06% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Damian Gumpel bought 13,400 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was acquired at an average price of $9.22 per share, with a total value of $123,548.00. Following the completion of the purchase, the insider directly owned 123,879 shares of the company's stock, valued at approximately $1,142,164.38. The trade was a 12.13% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders bought 25,672 shares of company stock valued at $251,573. Insiders own 0.34% of the company's stock.

Chemours Trading Up 2.4%

CC opened at $13.90 on Wednesday. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of 69.48 and a beta of 1.65. The Chemours Company has a 52 week low of $9.13 and a 52 week high of $24.50. The business's 50 day moving average is $11.65 and its two-hundred day moving average is $13.77. The company has a quick ratio of 0.83, a current ratio of 1.75 and a debt-to-equity ratio of 7.01.

Chemours (NYSE:CC - Get Free Report) last released its 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). Chemours had a net margin of 0.54% and a return on equity of 23.82%. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period in the previous year, the firm posted $0.32 EPS. The company's revenue for the quarter was up .4% on a year-over-year basis. On average, research analysts predict that The Chemours Company will post 2.03 EPS for the current year.

Chemours Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CC shares. The Goldman Sachs Group lowered their price target on Chemours from $21.00 to $14.00 and set a "neutral" rating for the company in a report on Wednesday, May 14th. UBS Group lowered their price target on Chemours from $18.00 to $17.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Wall Street Zen cut Chemours from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Barclays lowered their price target on Chemours from $16.00 to $13.00 and set an "equal weight" rating for the company in a report on Wednesday, May 28th. Finally, Morgan Stanley lowered their price target on Chemours from $22.00 to $15.00 and set an "equal weight" rating for the company in a report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Chemours has a consensus rating of "Hold" and a consensus price target of $17.44.

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.

Want to see what other hedge funds are holding CC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Chemours Company (NYSE:CC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.