SummitTX Capital L.P. purchased a new stake in The Chemours Company (NYSE:CC - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 152,938 shares of the specialty chemicals company's stock, valued at approximately $3,369,000. SummitTX Capital L.P. owned 0.10% of Chemours at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the business. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Chemours by 5,551.8% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 494,418 shares of the specialty chemicals company's stock worth $10,892,000 after buying an additional 485,670 shares in the last quarter. Sei Investments Co. raised its stake in Chemours by 13.0% during the 1st quarter. Sei Investments Co. now owns 293,439 shares of the specialty chemicals company's stock valued at $6,464,000 after acquiring an additional 33,809 shares in the last quarter. First Citizens Bank & Trust Co. bought a new stake in Chemours during the 1st quarter valued at $811,000. Parallel Advisors LLC raised its stake in Chemours by 10.9% during the 1st quarter. Parallel Advisors LLC now owns 5,366 shares of the specialty chemicals company's stock valued at $118,000 after acquiring an additional 527 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new position in Chemours during the 1st quarter worth $3,745,000. Institutional investors own 76.26% of the company's stock.
Analysts Set New Price Targets
CC has been the subject of several recent analyst reports. Alembic Global Advisors reissued an "overweight" rating and issued a $30.00 price target on shares of Chemours in a research note on Wednesday, May 13th. 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 report on Tuesday, April 28th. Morgan Stanley upped their price objective 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. Zacks Research upgraded shares of Chemours from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 21st. Finally, UBS Group raised their target price 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 equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $24.10.
Check Out Our Latest Report on Chemours
Chemours Stock Performance
Shares of NYSE CC opened at $16.97 on Tuesday. The Chemours Company has a 1 year low of $10.44 and a 1 year high of $28.67. The firm has a market cap of $2.55 billion, a P/E ratio of -6.43 and a beta of 1.41. The stock has a fifty day moving average price of $20.23 and a two-hundred day moving average price of $19.95. The company has a debt-to-equity ratio of 18.98, a quick ratio of 0.87 and a current ratio of 1.82.
Chemours (NYSE:CC - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The specialty chemicals company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.10. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.40 billion. Chemours had a negative net margin of 6.82% and a positive return on equity of 52.49%. The business's revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.13 EPS. Research analysts forecast that The Chemours Company will post 1.18 EPS for the current fiscal year.
Chemours Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Investors 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 was Friday, May 15th. Chemours's dividend payout ratio (DPR) is presently -13.26%.
Chemours Profile
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Free Report)
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.
Further Reading
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