Healthcare of Ontario Pension Plan Trust Fund Has $10.89 Million Stake in The Chemours Company $CC

Key Points

• Healthcare of Ontario Pension Plan Trust Fund increased its Chemours stake by 5,551.8% in the first quarter, owning 494,418 shares valued at approximately $10.89 million. Institutional investors collectively hold 76.26% of the company.
• Analysts maintain a generally positive outlook, with Chemours receiving a consensus rating of “Moderate Buy” and an average price target of $24.10, compared with shares opening at $17.05.
• Chemours reported first-quarter earnings of $0.05 per share, beating estimates, while revenue reached $1.38 billion. The company also pays a quarterly dividend of $0.0875 per share, equivalent to a 2.1% annualized yield.

Healthcare of Ontario Pension Plan Trust Fund lifted its stake in The Chemours Company (NYSE:CC - Free Report) by 5,551.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 494,418 shares of the specialty chemicals company's stock after buying an additional 485,670 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.33% of Chemours worth $10,892,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CC. Baird Financial Group Inc. bought a new position in Chemours during the 1st quarter worth $148,000. Royal Bank of Canada lifted its position in shares of Chemours by 6.8% during the 1st quarter. Royal Bank of Canada now owns 585,702 shares of the specialty chemicals company's stock valued at $7,926,000 after acquiring an additional 37,382 shares during the period. AQR Capital Management LLC acquired a new stake in shares of Chemours during the 1st quarter worth $161,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Chemours by 149.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,243 shares of the specialty chemicals company's stock worth $593,000 after purchasing an additional 25,899 shares in the last quarter. Finally, Empowered Funds LLC bought a new position in shares of Chemours in the first quarter worth $403,000. Institutional investors and hedge funds own 76.26% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Truist Financial upped their price objective on shares of Chemours from $27.00 to $30.00 and gave the stock a "buy" rating in a research report on Tuesday, April 28th. Mizuho dropped their target price on shares of Chemours from $30.00 to $25.00 and set an "outperform" rating for the company in a research report on Wednesday, July 1st. Morgan Stanley upped their price target on shares of Chemours from $17.00 to $21.00 and gave the stock an "equal weight" rating in a report on Monday, May 11th. JPMorgan Chase & Co. increased their price target on shares of Chemours from $17.00 to $22.00 and gave the stock a "neutral" rating in a research report on Thursday, May 21st. Finally, UBS Group lifted their price objective on shares of Chemours from $29.00 to $30.00 and gave the company a "buy" rating in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $24.10.

Chemours Price Performance

Shares of CC opened at $17.05 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 1.82 and a debt-to-equity ratio of 18.98. The stock has a market cap of $2.56 billion, a PE ratio of -6.46 and a beta of 1.41. The Chemours Company has a 12-month low of $10.44 and a 12-month high of $28.67. The business has a 50-day simple moving average of $20.14 and a two-hundred day simple moving average of $19.98.

Chemours (NYSE:CC - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The specialty chemicals company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.10. Chemours had a positive return on equity of 52.49% and a negative net margin of 6.82%.The company had revenue of $1.38 billion for the quarter, compared to analysts' expectations of $1.40 billion. During the same period in the previous year, the business posted $0.13 earnings per share. The business's quarterly revenue was up 1.0% compared to the same quarter last year. Analysts anticipate that The Chemours Company will post 1.18 earnings per share for the current fiscal year.

Chemours Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Sunday, May 17th were issued a dividend of $0.0875 per share. This represents a $0.35 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Friday, May 15th. Chemours's payout ratio is presently -13.26%.

Chemours Company 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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