Avaii Wealth Management LLC Invests $6.14 Million in The Chemours Company $CC

Key Points

• Avaii Wealth Management purchased 299,195 Chemours shares worth approximately $6.14 million, making the stock 1.8% of its portfolio; institutional investors collectively own 76.26% of CC.
• Analyst sentiment is mixed, with Chemours carrying a consensus “Hold” rating and an average price target of $20.10. Recent targets ranged from $15 to $22, while Zacks downgraded the stock to “strong sell.”
• Chemours reported quarterly EPS of $0.42, below the $0.49 consensus, while revenue fell 1.5% year over year to $1.59 billion. The company declared a quarterly dividend of $0.0875 per share, representing a 2.3% annualized yield.

Avaii Wealth Management LLC purchased a new position in 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 fund purchased 299,195 shares of the specialty chemicals company's stock, valued at approximately $6,139,000. Chemours accounts for about 1.8% of Avaii Wealth Management LLC's investment portfolio, making the stock its 18th biggest position. Avaii Wealth Management LLC owned approximately 0.20% of Chemours at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of CC. Parallel Advisors LLC grew its stake in shares of Chemours by 10.9% during the 1st quarter. Parallel Advisors LLC now owns 5,366 shares of the specialty chemicals company's stock worth $118,000 after acquiring an additional 527 shares during the period. Oregon Public Employees Retirement Fund raised its stake in Chemours by 1.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 34,300 shares of the specialty chemicals company's stock valued at $404,000 after acquiring an additional 600 shares during the period. PFG Investments LLC lifted its holdings in Chemours by 7.6% during the fourth quarter. PFG Investments LLC now owns 12,494 shares of the specialty chemicals company's stock valued at $147,000 after purchasing an additional 883 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in Chemours by 1.2% during the fourth quarter. State of Alaska Department of Revenue now owns 76,257 shares of the specialty chemicals company's stock valued at $899,000 after purchasing an additional 932 shares during the last quarter. Finally, Man Group plc boosted its position in Chemours by 0.4% during the second quarter. Man Group plc now owns 271,108 shares of the specialty chemicals company's stock worth $3,104,000 after purchasing an additional 979 shares during the period. Hedge funds and other institutional investors own 76.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CC shares. JPMorgan Chase & Co. lowered their price target on shares of Chemours from $22.00 to $15.00 and set a "neutral" rating on the stock in a research report on Thursday, August 13th. Royal Bank Of Canada cut their price objective on shares of Chemours from $26.00 to $22.00 and set an "outperform" rating for the company in a report on Thursday, August 6th. Zacks Research lowered shares of Chemours from a "strong-buy" rating to a "strong sell" rating in a research note on Tuesday, August 11th. Mizuho set a $22.00 target price on shares of Chemours in a report on Wednesday, August 5th. Finally, Morgan Stanley set a $18.00 target price on Chemours in a research report on Monday, August 10th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Chemours presently has a consensus rating of "Hold" and an average target price of $20.10.

Chemours Price Performance

CC stock opened at $15.44 on Wednesday. The firm has a 50 day moving average of $18.34 and a 200-day moving average of $20.03. 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 firm has a market capitalization of $2.32 billion, a P/E ratio of -8.08 and a beta of 1.43.

Chemours (NYSE:CC - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The specialty chemicals company reported $0.42 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 firm had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.65 billion. During the same period in the prior year, the firm posted ($2.54) EPS. Chemours's revenue was down 1.5% on a year-over-year basis. As a group, sell-side analysts predict that The Chemours Company will post 0.88 earnings per share for the current fiscal year.

Chemours Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be given a dividend of $0.0875 per share. This represents a $0.35 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Friday, August 14th. Chemours's payout ratio is -18.32%.

Insider Transactions at Chemours

In other news, CEO Denise Dignam purchased 3,378 shares of the firm's stock in a transaction dated Tuesday, August 11th. The shares were purchased at an average price of $14.95 per share, with a total value of $50,501.10. Following the completion of the acquisition, the chief executive officer owned 339,916 shares in the company, valued at $5,081,744.20. This trade represents a 1.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Calderon Gerardo Familiar acquired 1,935 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was acquired at an average price of $15.53 per share, for a total transaction of $30,050.55. Following the transaction, the insider directly owned 58,547 shares of the company's stock, valued at $909,234.91. This represents a 3.42% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have bought 8,663 shares of company stock valued at $130,601. 0.85% of the stock is currently owned by company insiders.

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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