Thomist Capital Management LP Acquires New Position in The Chemours Company $CC

Thomist Capital Management LP acquired a new position in shares of The Chemours Company (NYSE:CC - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 142,900 shares of the specialty chemicals company's stock, valued at approximately $2,932,000. Chemours makes up about 0.9% of Thomist Capital Management LP's holdings, making the stock its 27th largest position. Thomist Capital Management LP owned about 0.09% of Chemours as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Chemours during the 1st quarter worth approximately $3,745,000. Old West Investment Management LLC purchased a new position in Chemours in the 2nd quarter valued at approximately $7,152,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Chemours in the 2nd quarter valued at approximately $1,467,000. Versor Investments LP purchased a new position in Chemours in the 4th quarter valued at approximately $314,000. Finally, Bank of America Corp DE raised its holdings in Chemours by 79.1% during the first quarter. Bank of America Corp DE now owns 1,317,003 shares of the specialty chemicals company's stock worth $29,014,000 after purchasing an additional 581,621 shares during the last quarter. 76.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Chemours news, insider Calderon Gerardo Familiar bought 1,935 shares of Chemours stock in a transaction that occurred on Wednesday, August 12th. The shares were purchased at an average cost of $15.53 per share, for a total transaction of $30,050.55. Following the completion of the transaction, the insider owned 58,547 shares of the company's stock, valued at $909,234.91. This represents a 3.42% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Denise Dignam purchased 3,378 shares of the firm's stock in a transaction on Tuesday, August 11th. The stock was acquired at an average cost of $14.95 per share, for a total transaction of $50,501.10. Following the completion of the purchase, the chief executive officer owned 339,916 shares in the company, valued at $5,081,744.20. The trade was a 1.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have acquired 8,663 shares of company stock worth $130,601. 0.85% of the stock is owned by company insiders.

Chemours Stock Performance

NYSE:CC opened at $15.40 on Tuesday. The company has a debt-to-equity ratio of 18.98, a current ratio of 1.66 and a quick ratio of 0.88. The firm has a market cap of $2.32 billion, a PE ratio of -8.06 and a beta of 1.43. The firm has a 50 day simple moving average of $17.87 and a 200-day simple moving average of $20.04. The Chemours Company has a 1-year low of $10.44 and a 1-year high of $28.67.

Chemours (NYSE:CC - Get Free Report) last announced its earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.49 by ($0.07). The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.65 billion. Chemours had a positive return on equity of 60.64% and a negative net margin of 5.00%.The firm's revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the business posted ($2.54) EPS. On average, equities analysts expect that The Chemours Company will post 0.87 EPS for the current year.

Chemours Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be paid a $0.0875 dividend. This represents a $0.35 annualized dividend and a yield of 2.3%. The ex-dividend date is Friday, August 14th. Chemours's dividend payout ratio is presently -18.32%.

Analysts Set New Price Targets

CC has been the topic of a number of research analyst reports. Zacks Research downgraded Chemours from a "strong-buy" rating to a "strong sell" rating in a research report on Tuesday, August 11th. UBS Group restated a "neutral" rating and set a $18.00 target price (down from $29.00) on shares of Chemours in a research report on Monday, August 10th. Alembic Global Advisors reiterated an "overweight" rating and issued a $30.00 price target on shares of Chemours in a research report on Wednesday, May 13th. Weiss Ratings cut shares of Chemours from a "sell (d)" rating to a "sell (d-)" rating in a research note on Thursday, August 6th. Finally, Royal Bank Of Canada reduced their target price on Chemours from $26.00 to $22.00 and set an "outperform" rating on the stock in a research note on Thursday, August 6th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $20.10.

Chemours Profile

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.

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