Jupiter Topco LLC Makes New Investment in The Chemours Company $CC

Key Points

• Jupiter Topco LLC acquired 70,089 Chemours shares during the second quarter, valued at approximately $1.44 million. Other institutional investors also initiated or increased positions, with institutions collectively owning 76.26% of the stock.
• Chemours insiders purchased shares recently, including CEO Denise Dignam’s acquisition of 3,378 shares and insider Calderon Gerardo Familiar’s purchase of 1,935 shares. Insiders bought 8,663 shares worth about $130,601 over the past 90 days.
• The stock opened at $15.28, while analysts maintain a consensus “Hold” rating and an average price target of $20.10. Chemours recently missed quarterly earnings and revenue estimates but declared a quarterly dividend of $0.0875 per share, yielding about 2.3% annually.

Jupiter Topco LLC purchased a new stake in The Chemours Company (NYSE:CC - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 70,089 shares of the specialty chemicals company's stock, valued at approximately $1,438,000.

A number of other large investors have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Chemours in the 2nd quarter valued at about $34,000. Atlas Capital Advisors Inc. bought a new position in shares of Chemours during the fourth quarter worth about $26,000. Aster Capital Management DIFC Ltd acquired a new stake in Chemours in the 4th quarter valued at approximately $28,000. Allworth Financial LP acquired a new stake in Chemours in the 2nd quarter valued at approximately $51,000. Finally, Covestor Ltd lifted its stake in Chemours by 204.7% in the 4th quarter. Covestor Ltd now owns 2,602 shares of the specialty chemicals company's stock valued at $31,000 after acquiring an additional 1,748 shares in the last quarter. Institutional investors own 76.26% of the company's stock.

Insider Buying and Selling

In related news, insider Calderon Gerardo Familiar acquired 1,935 shares of the business's stock in a transaction that occurred on Wednesday, August 12th. The shares were bought at an average cost of $15.53 per share, with a total value of $30,050.55. Following the completion of the purchase, the insider directly owned 58,547 shares in the company, valued at $909,234.91. The trade was a 3.42% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Denise Dignam bought 3,378 shares of Chemours stock in a transaction that occurred on Tuesday, August 11th. The stock was bought at an average price of $14.95 per share, for a total transaction of $50,501.10. Following the completion of the acquisition, the chief executive officer directly owned 339,916 shares of the company's stock, valued at $5,081,744.20. The trade was a 1.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 8,663 shares of company stock valued at $130,601 over the last 90 days. 0.85% of the stock is owned by insiders.

Chemours Price Performance

NYSE:CC opened at $15.28 on Friday. The stock has a market capitalization of $2.30 billion, a PE ratio of -8.00 and a beta of 1.42. The Chemours Company has a 1-year low of $10.44 and a 1-year high of $28.67. The firm has a fifty day simple moving average of $16.85 and a 200 day simple moving average of $19.81. 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 issued its earnings results 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). The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.65 billion. Chemours had a positive return on equity of 60.64% and a negative net margin of 5.00%.The business's revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($2.54) earnings per share. On average, research analysts expect that The Chemours Company will post 0.87 EPS for the current fiscal year.

Chemours Dividend Announcement

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 issued a dividend of $0.0875 per share. This represents a $0.35 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Friday, August 14th. Chemours's payout ratio is presently -18.32%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CC shares. Morgan Stanley set a $18.00 price objective on shares of Chemours in a report on Monday, August 10th. BMO Capital Markets decreased their target price on shares of Chemours from $26.00 to $18.00 and set an "outperform" rating for the company in a research report on Thursday, August 13th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $17.00 price target on shares of Chemours in a research note on Thursday, August 13th. Weiss Ratings cut shares of Chemours from a "sell (d)" rating to a "sell (d-)" rating in a research report on Thursday, August 6th. Finally, Alembic Global Advisors restated an "overweight" rating and set a $30.00 price objective on shares of Chemours in a research note on Wednesday, May 13th. 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. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $20.10.

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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