SG Americas Securities LLC Invests $822,000 in The Chemours Company (NYSE:CC)

SG Americas Securities LLC bought a new stake in The Chemours Company (NYSE:CC - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 60,734 shares of the specialty chemicals company's stock, valued at approximately $822,000.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Chemours during the 4th quarter worth approximately $30,702,000. Bank of Montreal Can boosted its stake in shares of Chemours by 1,496.4% during the fourth quarter. Bank of Montreal Can now owns 953,240 shares of the specialty chemicals company's stock valued at $16,110,000 after acquiring an additional 893,530 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Chemours by 23.8% during the fourth quarter. Ameriprise Financial Inc. now owns 4,373,172 shares of the specialty chemicals company's stock valued at $73,907,000 after acquiring an additional 839,849 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Chemours by 44.6% during the fourth quarter. Millennium Management LLC now owns 2,507,262 shares of the specialty chemicals company's stock valued at $42,373,000 after acquiring an additional 773,537 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Chemours by 141.5% during the fourth quarter. Invesco Ltd. now owns 1,020,001 shares of the specialty chemicals company's stock valued at $17,238,000 after acquiring an additional 597,638 shares during the last quarter. 76.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on CC shares. Royal Bank Of Canada decreased their price objective on Chemours from $17.00 to $14.00 and set an "outperform" rating on the stock in a research note on Thursday, May 8th. UBS Group decreased their price objective on Chemours from $18.00 to $17.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Wall Street Zen lowered Chemours from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Mizuho set a $15.00 price objective on Chemours in a research note on Tuesday, April 15th. Finally, Barclays reduced 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $17.22.

Chemours Stock Down 1.1%

Shares of NYSE:CC traded down $0.12 during mid-day trading on Monday, hitting $10.61. 3,361,859 shares of the company traded hands, compared to its average volume of 2,279,697. The firm has a market cap of $1.59 billion, a P/E ratio of 53.05 and a beta of 1.65. The company has a debt-to-equity ratio of 7.01, a quick ratio of 0.83 and a current ratio of 1.75. The Chemours Company has a 52-week low of $9.13 and a 52-week high of $25.54. The firm's 50 day simple moving average is $11.21 and its 200 day simple moving average is $14.51.

Chemours (NYSE:CC - Get Free Report) last announced its earnings results on Tuesday, May 6th. The specialty chemicals company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.06). The company had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.36 billion. Chemours had a net margin of 0.54% and a return on equity of 23.82%. The business's quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.32 earnings per share. On average, equities analysts anticipate that The Chemours Company will post 2.03 EPS for the current year.

Chemours Dividend Announcement

The business also recently announced a dividend, which was paid on Monday, June 16th. Investors of record on Monday, May 19th were issued a dividend of $0.0875 per share. The ex-dividend date was Friday, May 16th. This represents a dividend yield of 3.17%. Chemours's payout ratio is currently 175.00%.

Insider Activity at Chemours

In other Chemours news, insider Damian Gumpel acquired 7,822 shares of the stock in a transaction on Tuesday, June 3rd. The stock was purchased at an average price of $9.95 per share, for a total transaction of $77,828.90. Following the purchase, the insider now directly owns 131,701 shares in the company, valued at $1,310,424.95. This trade represents a 6.31% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Shane Hostetter bought 4,450 shares of the firm's stock in a transaction dated Monday, May 19th. The stock was purchased at an average price of $11.28 per share, with a total value of $50,196.00. Following the transaction, the chief financial officer now owns 59,694 shares in the company, valued at approximately $673,348.32. This represents a 8.06% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 25,672 shares of company stock worth $251,573. 0.34% of the stock is currently owned by company insiders.

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.