Lighthouse Investment Partners LLC Acquires 63,566 Shares of The Chemours Company (NYSE:CC)

Lighthouse Investment Partners LLC raised its stake in shares of The Chemours Company (NYSE:CC - Free Report) by 241.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 89,854 shares of the specialty chemicals company's stock after purchasing an additional 63,566 shares during the period. Lighthouse Investment Partners LLC owned 0.06% of Chemours worth $1,519,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CC. Norges Bank acquired a new position in Chemours during the fourth quarter valued at approximately $30,702,000. Bank of Montreal Can grew its holdings in Chemours by 1,496.4% during the fourth quarter. Bank of Montreal Can now owns 953,240 shares of the specialty chemicals company's stock valued at $16,110,000 after purchasing an additional 893,530 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Chemours by 23.8% during the fourth quarter. Ameriprise Financial Inc. now owns 4,373,172 shares of the specialty chemicals company's stock valued at $73,907,000 after purchasing an additional 839,849 shares during the last quarter. Invesco Ltd. grew its holdings in Chemours by 141.5% during the fourth quarter. Invesco Ltd. now owns 1,020,001 shares of the specialty chemicals company's stock valued at $17,238,000 after purchasing an additional 597,638 shares during the last quarter. Finally, Covalis Capital LLP acquired a new position in Chemours during the fourth quarter valued at approximately $8,768,000. Institutional investors and hedge funds own 76.26% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CC shares. Morgan Stanley lowered their price objective on shares of Chemours from $22.00 to $15.00 and set an "equal weight" rating on the stock in a research note on Monday, May 12th. Barclays lowered their price objective on shares of Chemours from $19.00 to $16.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 1st. BMO Capital Markets lowered their price objective on shares of Chemours from $34.00 to $27.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 19th. Mizuho set a $15.00 price objective on shares of Chemours in a research note on Tuesday, April 15th. Finally, The Goldman Sachs Group lowered their price objective on shares of Chemours from $21.00 to $14.00 and set a "neutral" rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Chemours currently has an average rating of "Hold" and an average target price of $17.56.

Chemours Stock Performance

CC traded up $0.12 during trading on Friday, reaching $11.16. 3,510,367 shares of the company's stock were exchanged, compared to its average volume of 2,027,198. The Chemours Company has a fifty-two week low of $9.33 and a fifty-two week high of $29.17. 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 business has a 50 day moving average price of $12.31 and a 200 day moving average price of $16.30. The company has a market capitalization of $1.67 billion, a P/E ratio of 19.58 and a beta of 1.76.

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

Chemours Dividend Announcement

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

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.