Millennium Management LLC Has $54.43 Million Stake in The Chemours Company $CC

Key Points

• Millennium Management LLC raised its stock holdings in The Chemours Company by 60.4% during the first quarter, owning approximately 2.69% of the company, valued at $54.4 million.
• Chemours recently reported Q2 earnings of $0.58 per share, exceeding analysts' estimates, with quarterly revenue of $1.62 billion, reflecting a 5.0% year-over-year increase.
• The company has announced a quarterly dividend of $0.0875 per share, representing a 2.2% yield, although its current dividend payout ratio is at -12.50%.

Millennium Management LLC raised its position in The Chemours Company (NYSE:CC - Free Report) by 60.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,022,782 shares of the specialty chemicals company's stock after purchasing an additional 1,515,520 shares during the quarter. Millennium Management LLC owned 2.69% of Chemours worth $54,428,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FNY Investment Advisers LLC acquired a new stake in shares of Chemours in the 1st quarter valued at about $27,000. UMB Bank n.a. increased its position in Chemours by 73.9% during the first quarter. UMB Bank n.a. now owns 2,231 shares of the specialty chemicals company's stock worth $30,000 after buying an additional 948 shares during the last quarter. Farther Finance Advisors LLC increased its position in Chemours by 170.7% during the first quarter. Farther Finance Advisors LLC now owns 2,290 shares of the specialty chemicals company's stock worth $30,000 after buying an additional 1,444 shares during the last quarter. SouthState Corp acquired a new position in Chemours during the first quarter worth approximately $34,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Chemours during the fourth quarter worth approximately $91,000. Institutional investors and hedge funds own 76.26% of the company's stock.

Wall Street Analysts Forecast Growth

CC has been the subject of a number of research analyst reports. Zacks Research upgraded Chemours from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 27th. Wall Street Zen cut Chemours from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Royal Bank Of Canada lifted their price objective on Chemours from $14.00 to $15.00 and gave the company an "outperform" rating in a report on Thursday, July 3rd. Mizuho upped their target price on Chemours from $13.00 to $16.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Finally, Barclays cut their target price on Chemours from $16.00 to $13.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 28th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.38.

Insider Activity at Chemours

In other news, CEO Denise Dignam purchased 4,068 shares of the company's stock in a transaction dated Friday, August 8th. The stock was bought at an average cost of $12.06 per share, for a total transaction of $49,060.08. Following the purchase, the chief executive officer owned 191,546 shares of the company's stock, valued at approximately $2,310,044.76. The trade was a 2.17% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.34% of the company's stock.

Chemours Price Performance

Shares of CC traded down $0.01 during trading hours on Friday, reaching $16.76. The stock had a trading volume of 1,986,903 shares, compared to its average volume of 2,840,802. The Chemours Company has a 12 month low of $9.13 and a 12 month high of $22.38. The stock has a market capitalization of $2.51 billion, a PE ratio of -5.98 and a beta of 1.61. The company has a debt-to-equity ratio of 17.16, a quick ratio of 0.83 and a current ratio of 1.68. The company's 50-day moving average is $14.15 and its two-hundred day moving average is $12.74.

Chemours (NYSE:CC - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The specialty chemicals company reported $0.58 EPS for the quarter, beating analysts' consensus estimates of $0.46 by $0.12. Chemours had a positive return on equity of 35.14% and a negative net margin of 7.19%.The company had revenue of $1.62 billion during the quarter, compared to analysts' expectations of $1.57 billion. During the same period in the prior year, the company earned $0.38 EPS. Chemours's revenue was up 5.0% compared to the same quarter last year. Chemours has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Research analysts expect that The Chemours Company will post 2.03 EPS for the current year.

Chemours Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 15th were paid a $0.0875 dividend. This represents a $0.35 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Friday, August 15th. Chemours's dividend payout ratio is presently -12.50%.

Chemours Profile

The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. It operates through three segments: Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure brand for delivering whiteness, brightness, opacity, durability, efficiency, and protection in various of applications, such as architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride, laminate papers used for furniture and building materials, coated paper, and coated paperboard used for packaging.