Victory Capital Management Inc. Has $2.18 Million Holdings in The Chemours Company (NYSE:CC)

Key Points

• Victory Capital Management Inc. increased its stake in The Chemours Company by 46.0%, acquiring an additional 50,741 shares during the first quarter, bringing their total ownership to 161,052 shares valued at approximately $2.18 million.
• An analyst consensus rating for Chemours stock is currently a "Hold" with a price target of $17.44, as various firms have issued mixed opinions on its future performance.
• The Chemours Company reported earnings of $0.13 EPS, missing the consensus estimate by $0.06, with revenue of $1.37 billion, reflecting a slight year-over-year increase.

Victory Capital Management Inc. lifted its stake in The Chemours Company (NYSE:CC - Free Report) by 46.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 161,052 shares of the specialty chemicals company's stock after buying an additional 50,741 shares during the period. Victory Capital Management Inc. owned approximately 0.11% of Chemours worth $2,179,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in Chemours during the 4th quarter worth $2,283,000. Corient Private Wealth LLC lifted its stake in shares of Chemours by 4.7% in the fourth quarter. Corient Private Wealth LLC now owns 13,428 shares of the specialty chemicals company's stock valued at $227,000 after purchasing an additional 604 shares during the period. Sei Investments Co. lifted its stake in shares of Chemours by 779.5% in the fourth 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. KLP Kapitalforvaltning AS acquired a new stake in shares of Chemours in the fourth quarter valued at about $515,000. Finally, LPL Financial LLC raised its position in Chemours by 11.2% during the fourth quarter. LPL Financial LLC now owns 68,797 shares of the specialty chemicals company's stock worth $1,163,000 after acquiring an additional 6,937 shares during the last quarter. 76.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Chemours

In other Chemours news, CFO Shane Hostetter acquired 4,450 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The stock was acquired at an average cost of $11.28 per share, for a total transaction of $50,196.00. Following the transaction, the chief financial officer 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Damian Gumpel acquired 13,400 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was acquired at an average price of $9.22 per share, with a total value of $123,548.00. Following the completion of the transaction, the insider directly owned 123,879 shares in the company, valued at $1,142,164.38. This trade represents a 12.13% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 25,672 shares of company stock valued at $251,573 over the last quarter. 0.47% of the stock is owned by insiders.

Chemours Price Performance

NYSE CC traded down $0.46 on Friday, hitting $11.52. 1,545,790 shares of the company were exchanged, compared to its average volume of 3,449,913. The company has a market cap of $1.72 billion, a P/E ratio of 57.68 and a beta of 1.65. The Chemours Company has a 1-year low of $9.13 and a 1-year high of $22.38. 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 firm has a 50 day moving average of $12.00 and a two-hundred day moving average of $13.59.

Chemours (NYSE:CC - Get Free Report) last announced its quarterly 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 net margin of 0.54% and a return on equity of 23.82%. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period last year, the company earned $0.32 earnings per share. The business's revenue was up .4% compared to the same quarter last year. On average, equities analysts predict that The Chemours Company will post 2.03 EPS for the current year.

Chemours Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Monday, June 16th. Investors of record on Monday, May 19th were given a $0.0875 dividend. The ex-dividend date was Friday, May 16th. This represents a dividend yield of 317.0%. Chemours's payout ratio is currently 175.00%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CC. UBS Group lowered their price target on shares of Chemours from $18.00 to $17.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Royal Bank Of Canada boosted their price objective on shares of Chemours from $14.00 to $15.00 and gave the stock an "outperform" rating in a research note on Thursday, July 3rd. Wall Street Zen cut shares of Chemours from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Mizuho boosted their target price on shares of Chemours from $13.00 to $16.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Finally, Truist Financial cut their price target on shares of Chemours from $27.00 to $22.00 and set a "buy" rating on the stock in a report on Monday, April 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $17.44.

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.