Deutsche Bank AG Makes New Investment in The Chemours Company $CC

Key Points

• Deutsche Bank acquired 160,395 Chemours shares worth approximately $3.29 million in the second quarter, while institutional investors collectively own 76.26% of the company.
• Chemours insiders also bought shares recently, including CEO Denise Dignam and CFO Shane Hostetter; insiders acquired 8,663 shares worth about $130,601 over the past 90 days.
• Chemours reported quarterly EPS of $0.42, below the $0.49 consensus estimate, and revenue of $1.59 billion, down 1.5% year over year. Analysts maintain a consensus “Hold” rating with an average price target of $20.10, while the company declared a quarterly dividend of $0.0875.

Deutsche Bank AG acquired a new stake in The Chemours Company (NYSE:CC - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 160,395 shares of the specialty chemicals company's stock, valued at approximately $3,291,000. Deutsche Bank AG owned 0.11% of Chemours as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CC. Cooper Creek Partners Management LLC acquired a new stake in shares of Chemours in the third quarter valued at approximately $63,103,000. Bank of New York Mellon Corp acquired a new stake in Chemours during the second quarter worth approximately $33,353,000. Scopia Capital Management LP grew its position in Chemours by 71.7% during the second quarter. Scopia Capital Management LP now owns 3,355,261 shares of the specialty chemicals company's stock worth $38,418,000 after buying an additional 1,401,539 shares in the last quarter. State Street Corp increased its stake in Chemours by 22.7% during the 2nd quarter. State Street Corp now owns 6,114,328 shares of the specialty chemicals company's stock worth $70,009,000 after acquiring an additional 1,131,682 shares during the period. Finally, Sona Asset Management US LLC increased its stake in Chemours by 176.9% during the 4th quarter. Sona Asset Management US LLC now owns 1,651,275 shares of the specialty chemicals company's stock worth $19,469,000 after acquiring an additional 1,055,000 shares during the period. Institutional investors and hedge funds own 76.26% of the company's stock.

Insiders Place Their Bets

In related news, CEO Denise Dignam purchased 3,378 shares of Chemours stock in a transaction dated Tuesday, August 11th. The shares were bought at an average cost of $14.95 per share, for a total transaction of $50,501.10. Following the purchase, the chief executive officer owned 339,916 shares in the company, valued at approximately $5,081,744.20. This trade represents a 1.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Shane Hostetter purchased 3,350 shares of the firm's stock in a transaction that occurred on Thursday, August 6th. The shares were bought at an average cost of $14.94 per share, for a total transaction of $50,049.00. Following the completion of the acquisition, the chief financial officer directly owned 102,698 shares in the company, valued at $1,534,308.12. The trade was a 3.37% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders acquired 8,663 shares of company stock valued at $130,601. 0.85% of the stock is currently owned by corporate insiders.

Chemours Trading Up 0.3%

Shares of CC stock opened at $15.81 on Thursday. The stock's fifty day moving average price is $17.64 and its two-hundred day moving average price is $20.02. The company 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 fifty-two week low of $10.44 and a fifty-two week high of $28.67. The company has a debt-to-equity ratio of 18.98, a quick ratio of 0.88 and a current ratio of 1.66.

Chemours (NYSE:CC - Get Free Report) last issued 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 business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the previous year, the business posted ($2.54) EPS. The company's revenue for the quarter was down 1.5% on a year-over-year basis. Equities analysts predict that The Chemours Company will post 0.87 EPS for the current fiscal year.

Chemours Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be given a $0.0875 dividend. This represents a $0.35 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Friday, August 14th. Chemours's payout ratio is currently -18.32%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CC. Royal Bank Of Canada cut their target price on Chemours from $26.00 to $22.00 and set an "outperform" rating for the company in a research report on Thursday, August 6th. UBS Group restated a "neutral" rating and issued a $18.00 price target (down from $29.00) on shares of Chemours in a research report on Monday, August 10th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $17.00 price target on shares of Chemours in a research note on Thursday, August 13th. JPMorgan Chase & Co. cut their price objective 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. Finally, Mizuho set a $22.00 price objective on shares of Chemours in a research note on Wednesday, August 5th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, Chemours presently has a consensus rating of "Hold" and a consensus price target of $20.10.

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.

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