37,998 Shares in The Chemours Company (NYSE:CC) Bought by Wolverine Asset Management LLC

Key Points

• Wolverine Asset Management LLC has made a **new investment** of approximately **$514,000** in The Chemours Company, acquiring 37,998 shares, according to its latest SEC filing.
• Insiders, including CFO Shane Hostetter, have also recently **purchased shares** of Chemours, indicating confidence in the company as their ownership has increased significantly.
• Analysts have mixed ratings on Chemours, with **Mizuho upgrading** their price target from $13.00 to $16.00 while other firms have reduced their targets, reflecting varied investor sentiment.

Wolverine Asset Management LLC purchased a new stake in The Chemours Company (NYSE:CC - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 37,998 shares of the specialty chemicals company's stock, valued at approximately $514,000.

Other large investors have also recently bought and sold shares of the company. Maryland State Retirement & Pension System bought a new position in Chemours during the first quarter worth about $704,000. Headlands Technologies LLC grew its position in shares of Chemours by 28,275.9% during the 1st quarter. Headlands Technologies LLC now owns 8,229 shares of the specialty chemicals company's stock worth $111,000 after purchasing an additional 8,200 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Chemours by 10.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,438,732 shares of the specialty chemicals company's stock worth $19,466,000 after purchasing an additional 136,460 shares during the period. Vanguard Group Inc. raised its position in shares of Chemours by 8.3% in the first quarter. Vanguard Group Inc. now owns 16,487,008 shares of the specialty chemicals company's stock valued at $223,069,000 after buying an additional 1,263,047 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Chemours by 17.1% in the first quarter. PNC Financial Services Group Inc. now owns 52,600 shares of the specialty chemicals company's stock valued at $712,000 after buying an additional 7,688 shares in the last quarter. 76.26% of the stock is owned by institutional investors.

Chemours Price Performance

Chemours stock traded up $0.71 during midday trading on Tuesday, reaching $12.39. The company's stock had a trading volume of 2,768,111 shares, compared to its average volume of 4,067,307. The company has a current ratio of 1.68, a quick ratio of 0.83 and a debt-to-equity ratio of 17.16. The stock has a market cap of $1.85 billion, a PE ratio of -4.43 and a beta of 1.61. The Chemours Company has a 52 week low of $9.13 and a 52 week high of $22.38. The business has a 50-day moving average price of $12.32 and a 200-day moving average price of $13.14.

Chemours (NYSE:CC - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The specialty chemicals company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.12. The company had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.57 billion. Chemours had a negative net margin of 7.19% and a positive return on equity of 35.14%. The firm's revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.38 EPS. On average, sell-side analysts predict that The Chemours Company will post 2.03 EPS for the current year.

Chemours Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 15th will be paid a $0.0875 dividend. This represents a $0.35 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Friday, August 15th. Chemours's dividend payout ratio is presently -12.50%.

Insider Activity

In other news, insider Damian Gumpel acquired 13,400 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were bought at an average price of $9.22 per share, with a total value of $123,548.00. Following the acquisition, the insider directly owned 123,879 shares in the company, valued at $1,142,164.38. The trade was a 12.13% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Shane Hostetter bought 4,450 shares of the stock in a transaction on Monday, May 19th. The stock was purchased at an average cost of $11.28 per share, with a total value of $50,196.00. Following the acquisition, the chief financial officer owned 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 disclosure for this purchase can be found here. In the last ninety days, insiders bought 29,740 shares of company stock worth $300,633. Insiders own 0.34% of the company's stock.

Analyst Ratings Changes

CC has been the topic of a number of recent research reports. UBS Group lowered their price objective on Chemours from $18.00 to $17.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Royal Bank Of Canada raised their price target on Chemours from $14.00 to $15.00 and gave the stock an "outperform" rating in a research report on Thursday, July 3rd. Morgan Stanley dropped their price target on Chemours from $22.00 to $15.00 and set an "equal weight" rating for the company in a research note on Monday, May 12th. Mizuho increased their price objective on shares of Chemours from $13.00 to $16.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Finally, Truist Financial dropped their target price on shares of Chemours from $27.00 to $22.00 and set a "buy" rating for the company in a research report on Monday, April 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $17.38.

About Chemours

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.