Twelve Points Wealth Management LLC increased its holdings in The Chemours Company (NYSE:CC - Free Report) by 55.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 122,032 shares of the specialty chemicals company's stock after buying an additional 43,707 shares during the period. Twelve Points Wealth Management LLC owned about 0.08% of Chemours worth $1,651,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. SG Americas Securities LLC acquired a new position in shares of Chemours in the 1st quarter valued at about $822,000. Sei Investments Co. boosted its stake in Chemours by 779.5% during the 4th quarter. Sei Investments Co. now owns 174,555 shares of the specialty chemicals company's stock valued at $2,950,000 after purchasing an additional 154,709 shares during the period. Janney Montgomery Scott LLC boosted its stake in Chemours by 22.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 31,886 shares of the specialty chemicals company's stock valued at $431,000 after purchasing an additional 5,843 shares during the period. KLP Kapitalforvaltning AS acquired a new position in Chemours during the 4th quarter valued at about $515,000. Finally, GAMMA Investing LLC boosted its stake in Chemours by 1,115.2% during the 1st quarter. GAMMA Investing LLC now owns 18,617 shares of the specialty chemicals company's stock valued at $252,000 after purchasing an additional 17,085 shares during the period. 76.26% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, insider Damian Gumpel purchased 7,822 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were acquired at an average price of $9.95 per share, for a total transaction of $77,828.90. Following the completion of the acquisition, the insider directly owned 131,701 shares of the company's stock, valued at $1,310,424.95. The trade was a 6.31% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Shane Hostetter purchased 4,450 shares of the business's stock in a transaction dated Monday, May 19th. The shares were purchased at an average price of $11.28 per share, for a total transaction of $50,196.00. Following the acquisition, the chief financial officer directly owned 59,694 shares of the company's stock, valued at $673,348.32. This trade represents a 8.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 25,672 shares of company stock worth $251,573 in the last 90 days. 0.47% of the stock is owned by company insiders.
Chemours Price Performance
Shares of NYSE CC traded up $0.28 during midday trading on Thursday, reaching $14.05. The company's stock had a trading volume of 4,852,642 shares, compared to its average volume of 2,526,835. The company has a current ratio of 1.75, a quick ratio of 0.83 and a debt-to-equity ratio of 7.01. The company has a 50 day moving average price of $11.36 and a 200 day moving average price of $13.99. The Chemours Company has a one year low of $9.13 and a one year high of $25.54. The company has a market cap of $2.10 billion, a price-to-earnings ratio of 70.23 and a beta of 1.65.
Chemours (NYSE:CC - Get Free Report) last released its earnings results on Tuesday, May 6th. The specialty chemicals company reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.19 by ($0.06). Chemours had a return on equity of 23.82% and a net margin of 0.54%. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the previous year, the firm earned $0.32 earnings per share. The firm's revenue for the quarter was up .4% compared to the same quarter last year. On average, equities research analysts expect that The Chemours Company will post 2.03 EPS for the current year.
Chemours Dividend Announcement
The company also recently declared a dividend, which was paid on Monday, June 16th. Stockholders 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 dividend payout ratio is currently 175.00%.
Analyst Ratings Changes
CC has been the subject of a number of analyst reports. Royal Bank Of Canada boosted their target price on shares of Chemours from $14.00 to $15.00 and gave the company an "outperform" rating in a research note on Thursday, July 3rd. Barclays reduced their price target on shares of Chemours from $16.00 to $13.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 28th. Wall Street Zen lowered shares of Chemours from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. The Goldman Sachs Group reduced their price target on shares of Chemours from $21.00 to $14.00 and set a "neutral" rating for the company in a research note on Wednesday, May 14th. Finally, Truist Financial reduced their price target on shares of Chemours from $27.00 to $22.00 and set a "buy" rating for the company in a research note on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $17.33.
Read Our Latest Research Report on CC
About Chemours
(
Free Report)
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.
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