Two Sigma Investments LP Acquires 211,641 Shares of The Chemours Company (NYSE:CC)

Two Sigma Investments LP lifted its stake in The Chemours Company (NYSE:CC - Free Report) by 22.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,155,437 shares of the specialty chemicals company's stock after acquiring an additional 211,641 shares during the quarter. Two Sigma Investments LP owned approximately 0.77% of Chemours worth $19,527,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Chemours by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 15,223,961 shares of the specialty chemicals company's stock worth $257,285,000 after acquiring an additional 94,885 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Chemours by 23.8% in the fourth quarter. Ameriprise Financial Inc. now owns 4,373,172 shares of the specialty chemicals company's stock worth $73,907,000 after acquiring an additional 839,849 shares during the last quarter. Millennium Management LLC increased its stake in shares of Chemours by 44.6% in the fourth quarter. Millennium Management LLC now owns 2,507,262 shares of the specialty chemicals company's stock worth $42,373,000 after acquiring an additional 773,537 shares during the last quarter. Norges Bank acquired a new position in Chemours during the fourth quarter worth $30,702,000. Finally, Dimensional Fund Advisors LP increased its position in Chemours by 22.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,779,702 shares of the specialty chemicals company's stock worth $30,077,000 after buying an additional 328,414 shares during the last quarter. 76.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Mizuho set a $15.00 target price on shares of Chemours in a research report on Tuesday, April 15th. Royal Bank of Canada lowered their target price on shares of Chemours from $17.00 to $14.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Morgan Stanley lowered their target price on shares of Chemours from $22.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Monday, May 12th. BMO Capital Markets lowered their target price on shares of Chemours from $34.00 to $27.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 19th. Finally, Truist Financial lowered their target price on shares of Chemours from $27.00 to $22.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Chemours presently has an average rating of "Hold" and a consensus target price of $17.22.

Chemours Stock Performance

CC stock traded down $0.32 during mid-day trading on Wednesday, reaching $10.31. 606,493 shares of the stock traded hands, compared to its average volume of 2,093,252. The company has a quick ratio of 0.92, a current ratio of 1.68 and a debt-to-equity ratio of 6.70. The Chemours Company has a 52 week low of $9.33 and a 52 week high of $26.98. The business has a 50-day moving average of $11.80 and a two-hundred day moving average of $15.85. The firm has a market capitalization of $1.54 billion, a PE ratio of 18.08 and a beta of 1.76.

Chemours (NYSE:CC - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The specialty chemicals company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.19 by ($0.06). Chemours had a net margin of 1.51% and a return on equity of 26.54%. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the company earned $0.32 earnings per share. The firm's revenue was up .4% on a year-over-year basis. As a group, equities analysts predict that The Chemours Company will post 2.03 EPS for the current fiscal year.

Chemours Announces Dividend

The business also recently announced a dividend, which will be paid on Monday, June 16th. Investors of record on Monday, May 19th will be paid a $0.0875 dividend. This represents a dividend yield of 3.17%. The ex-dividend date of this dividend is Friday, May 16th. Chemours's payout ratio is presently 175.00%.

Insider Activity at Chemours

In related news, CFO Shane Hostetter bought 4,450 shares of Chemours stock in a transaction that occurred on Monday, May 19th. The stock was acquired at an average price of $11.28 per share, for a total transaction of $50,196.00. Following the completion of the purchase, 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.34% of the stock is owned by corporate 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.