Millennium Management LLC Has $54.43 Million Stock Position 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 boosted its holdings in shares of The Chemours Company (NYSE:CC - Free Report) by 60.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,022,782 shares of the specialty chemicals company's stock after buying an additional 1,515,520 shares during the period. Millennium Management LLC owned approximately 2.69% of Chemours worth $54,428,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of CC. Northern Trust Corp raised its position in Chemours by 25.1% during the fourth quarter. Northern Trust Corp now owns 1,301,808 shares of the specialty chemicals company's stock valued at $22,001,000 after buying an additional 261,009 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in Chemours during the fourth quarter valued at $301,000. BNP Paribas Financial Markets raised its position in Chemours by 11.2% during the fourth quarter. BNP Paribas Financial Markets now owns 14,688 shares of the specialty chemicals company's stock valued at $248,000 after buying an additional 1,481 shares during the period. Captrust Financial Advisors raised its position in Chemours by 9.7% during the fourth quarter. Captrust Financial Advisors now owns 13,130 shares of the specialty chemicals company's stock valued at $222,000 after buying an additional 1,165 shares during the period. Finally, Cetera Investment Advisers raised its position in Chemours by 89.6% during the fourth quarter. Cetera Investment Advisers now owns 25,792 shares of the specialty chemicals company's stock valued at $436,000 after buying an additional 12,190 shares during the period. 76.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CC shares. Royal Bank Of Canada upped their target price on Chemours from $14.00 to $15.00 and gave the stock an "outperform" rating in a research report on Thursday, July 3rd. Zacks Research raised Chemours from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 27th. Barclays dropped their target price on Chemours from $16.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 28th. Mizuho upped their target price on Chemours from $13.00 to $16.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Finally, The Goldman Sachs Group dropped their target price on Chemours from $21.00 to $14.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 14th. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $17.38.

Chemours Stock Up 2.9%

Shares of NYSE CC traded up $0.47 during mid-day trading on Thursday, reaching $16.75. 2,299,432 shares of the company traded hands, compared to its average volume of 3,156,939. 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 stock has a market cap of $2.51 billion, a PE ratio of -5.98 and a beta of 1.61. The company's fifty day moving average is $14.07 and its two-hundred day moving average is $12.77. The Chemours Company has a fifty-two week low of $9.13 and a fifty-two week high of $22.38.

Chemours (NYSE:CC - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.57 billion. Chemours had a positive return on equity of 35.14% and a negative net margin of 7.19%.The firm's revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.38 EPS. Chemours has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. On average, analysts expect that The Chemours Company will post 2.03 earnings per share for the current year.

Chemours Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.0875 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 2.1%. Chemours's dividend payout ratio is currently -12.50%.

Insider Activity at Chemours

In other Chemours news, CEO Denise Dignam bought 4,068 shares of the stock in a transaction on Friday, August 8th. The shares were purchased at an average price of $12.06 per share, with a total value of $49,060.08. Following the acquisition, the chief executive officer directly owned 191,546 shares of the company's stock, valued at $2,310,044.76. This represents a 2.17% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.47% of the company's stock.

Chemours Company 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.