Bank of America Corp DE Increases Position in The Chemours Company $CC

Key Points

• Bank of America increased its Chemours stake by 79.1% in the first quarter, acquiring 581,621 additional shares and holding approximately 0.88% of the company. Institutional investors collectively own 76.26% of Chemours.
• Chemours insiders also bought shares, including CEO Denise Dignam and CFO Shane Hostetter, with insiders purchasing 8,663 shares worth about $130,601 over the past quarter.
• Analyst sentiment remains mixed: Chemours missed quarterly EPS and revenue estimates, while JPMorgan and Zacks cut their assessments. The stock has an overall “Hold” consensus rating with an average price target of $20.10.

Bank of America Corp DE lifted its stake in The Chemours Company (NYSE:CC - Free Report) by 79.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,317,003 shares of the specialty chemicals company's stock after purchasing an additional 581,621 shares during the quarter. Bank of America Corp DE owned about 0.88% of Chemours worth $29,014,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Atlas Capital Advisors Inc. purchased a new stake in shares of Chemours in the fourth quarter valued at $26,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Chemours in the 4th quarter worth about $28,000. Covestor Ltd boosted its stake in shares of Chemours by 204.7% during the 4th quarter. Covestor Ltd now owns 2,602 shares of the specialty chemicals company's stock worth $31,000 after purchasing an additional 1,748 shares during the period. Eurizon Capital SGR S.p.A. purchased a new position in shares of Chemours during the 4th quarter worth about $31,000. Finally, Rothschild Investment LLC grew its holdings in Chemours by 87.0% during the 4th quarter. Rothschild Investment LLC now owns 2,698 shares of the specialty chemicals company's stock valued at $32,000 after purchasing an additional 1,255 shares during the last quarter. Institutional investors own 76.26% of the company's stock.

Insider Activity

In other news, CFO Shane Hostetter purchased 3,350 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was purchased 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 of the company's stock, valued at approximately $1,534,308.12. This trade represents a 3.37% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Denise Dignam purchased 3,378 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was purchased at an average price of $14.95 per share, with a total value of $50,501.10. Following the acquisition, the chief executive officer directly owned 339,916 shares of the company's stock, valued at $5,081,744.20. This trade represents a 1.00% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders purchased 8,663 shares of company stock valued at $130,601. Corporate insiders own 0.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Weiss Ratings lowered shares of Chemours from a "sell (d)" rating to a "sell (d-)" rating in a research report on Thursday, August 6th. Morgan Stanley set a $18.00 target price on Chemours in a research report on Monday, August 10th. Alembic Global Advisors reaffirmed an "overweight" rating and set a $30.00 target price on shares of Chemours in a research note on Wednesday, May 13th. JPMorgan Chase & Co. reduced their price target on Chemours from $22.00 to $15.00 and set a "neutral" rating on the stock in a report on Thursday. Finally, Zacks Research lowered Chemours from a "strong-buy" rating to a "strong sell" rating in a research note on Tuesday, August 11th. 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. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $20.10.

Chemours News Roundup

Here are the key news stories impacting Chemours this week:

• Positive Sentiment: Chemours is expanding its low-GWP Opteon refrigerant portfolio to address rising cooling demand from AI-driven data centers. The initiative could support growth in a higher-demand market while aligning with customers’ decarbonization goals. Zacks article on Chemours refrigerants for data centers
• Positive Sentiment: CEO Denise Dignam bought 3,378 shares for approximately $50,500, while insider Gerardo Familiar Calderon purchased 1,935 shares for roughly $30,000. The open-market purchases may suggest that insiders view the recent share-price weakness as an opportunity. SEC filing on CEO purchase SEC filing on insider purchase
• Neutral Sentiment: BMO Capital Markets cut its price target from $26 to $18 but maintained an “outperform” rating, leaving implied upside while signaling reduced expectations. The broader analyst consensus remains “hold,” with an average target near $20.10.
• Negative Sentiment: A securities-fraud investigation involving Chemours was announced, creating a potential legal and reputational overhang for shareholders. The announcement does not establish wrongdoing, but it may increase uncertainty around the company.
• Negative Sentiment: JPMorgan lowered its price target from $22 to $15 and kept a “neutral” rating, while Zacks Research downgraded the stock from “strong buy” to “strong sell.” These actions reinforce concerns following Chemours’ recent quarterly EPS and revenue misses. Benzinga report on JPMorgan target cut Zacks rating report

Chemours Trading Down 0.3%

NYSE CC opened at $15.81 on Monday. The stock has a market cap of $2.38 billion, a PE ratio of -8.28 and a beta of 1.43. The Chemours Company has a 12 month low of $10.44 and a 12 month high of $28.67. The company's 50-day moving average price is $18.54 and its 200-day moving average price is $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.

Chemours (NYSE:CC - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The specialty chemicals company reported $0.42 earnings per share for the quarter, missing analysts' consensus estimates of $0.49 by ($0.07). The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.65 billion. Chemours had a negative net margin of 5.00% and a positive return on equity of 60.64%. The company's quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($2.54) EPS. Equities research analysts forecast that The Chemours Company will post 0.88 earnings per share for the current year.

Chemours Dividend Announcement

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

About Chemours

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source