Algert Global LLC Makes New Investment in The Chemours Company $CC

Key Points

• Algert Global LLC initiated a Chemours stake of 222,610 shares valued at approximately $4.6 million, while institutional investors collectively own 76.26% of the company.
• Chemours insiders purchased shares totaling $130,601 over the past 90 days, including acquisitions by CFO Shane Hostetter and insider Gerardo Familiar Calderon.
• The company missed quarterly earnings and revenue estimates, reporting $0.42 EPS and $1.59 billion in revenue. Analysts hold a consensus “Hold” rating with an average price target of $20.10, while Chemours declared a quarterly dividend of $0.0875 per share.

Algert Global LLC purchased a new stake in shares of The Chemours Company (NYSE:CC - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 222,610 shares of the specialty chemicals company's stock, valued at approximately $4,568,000. Algert Global LLC owned about 0.15% of Chemours at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Chemours in the second quarter valued at approximately $34,000. Atlas Capital Advisors Inc. bought a new stake in Chemours during the 4th quarter valued at $26,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Chemours during the fourth quarter worth $28,000. Allworth Financial LP purchased a new stake in shares of Chemours during the second quarter worth $51,000. Finally, Covestor Ltd boosted its holdings in shares of Chemours by 204.7% in the fourth quarter. Covestor Ltd now owns 2,602 shares of the specialty chemicals company's stock worth $31,000 after acquiring an additional 1,748 shares during the period. Institutional investors own 76.26% of the company's stock.

Insider Buying and Selling

In other Chemours news, CFO Shane Hostetter acquired 3,350 shares of the business's stock in a transaction on Thursday, August 6th. The shares were acquired at an average price of $14.94 per share, for a total transaction of $50,049.00. Following the completion of the acquisition, the chief financial officer owned 102,698 shares in the company, valued at $1,534,308.12. This trade represents a 3.37% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Calderon Gerardo Familiar bought 1,935 shares of the firm's stock in a transaction on Wednesday, August 12th. The shares were acquired at an average cost of $15.53 per share, with a total value of $30,050.55. Following the purchase, the insider directly owned 58,547 shares of the company's stock, valued at approximately $909,234.91. This represents a 3.42% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 8,663 shares of company stock valued at $130,601 over the last ninety days. Company insiders own 0.85% of the company's stock.

Chemours Stock Up 0.5%

Shares of Chemours stock opened at $15.85 on Friday. The company has a current ratio of 1.66, a quick ratio of 0.88 and a debt-to-equity ratio of 18.98. The Chemours Company has a 12-month low of $10.44 and a 12-month high of $28.67. The company has a market cap of $2.39 billion, a P/E ratio of -8.30 and a beta of 1.43. The company's fifty day simple moving average is $17.52 and its two-hundred day simple moving average is $20.00.

Chemours (NYSE:CC - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.07). Chemours had a negative net margin of 5.00% and a positive return on equity of 60.64%. The company had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.65 billion. During the same quarter in the prior year, the firm earned ($2.54) EPS. Chemours's quarterly revenue was down 1.5% compared to the same quarter last year. Research analysts anticipate that The Chemours Company will post 0.87 EPS for the current year.

Chemours Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be paid a $0.0875 dividend. This represents a $0.35 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Friday, August 14th. Chemours's dividend payout ratio is presently -18.32%.

Analyst Ratings Changes

A number of analysts recently issued reports on CC shares. Alembic Global Advisors reiterated an "overweight" rating and set a $30.00 price objective on shares of Chemours in a research note on Wednesday, May 13th. JPMorgan Chase & Co. reduced their price target on shares of Chemours from $22.00 to $15.00 and set a "neutral" rating for the company in a research report on Thursday, August 13th. Mizuho set a $22.00 price objective on Chemours in a report on Wednesday, August 5th. Zacks Research lowered shares of Chemours from a "strong-buy" rating to a "strong sell" rating in a research report on Tuesday, August 11th. Finally, Morgan Stanley set a $18.00 price target on shares of Chemours in a research report on Monday, August 10th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $20.10.

Chemours Profile

Chemours Company, established in 2015 as a spin-off from E. I. du Pont de Nemours and Company, is a global chemistry organization headquartered in Wilmington, Delaware. Since its formation, Chemours has focused on delivering performance chemicals that help customers lower their carbon footprint, increase energy efficiency and conserve water. The company operates with a commitment to safety, environmental stewardship and innovation.

Chemours' principal business activities are organized into three core segments.

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