CoreCap Advisors LLC Purchases Shares of 1,960 The Chemours Company (NYSE:CC)

Posted by Defense World Staff on Jun 1st, 2023

CoreCap Advisors LLC purchased a new stake in The Chemours Company (NYSE:CC – Get Rating) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,960 shares of the specialty chemicals company’s stock, valued at approximately $60,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Meritage Portfolio Management increased its stake in Chemours by 3.3% in the fourth quarter. Meritage Portfolio Management now owns 8,933 shares of the specialty chemicals company’s stock valued at $274,000 after purchasing an additional 288 shares during the last quarter. TCI Wealth Advisors Inc. boosted its holdings in shares of Chemours by 19.7% in the third quarter. TCI Wealth Advisors Inc. now owns 2,179 shares of the specialty chemicals company’s stock valued at $54,000 after acquiring an additional 358 shares during the period. IFP Advisors Inc boosted its holdings in shares of Chemours by 9.0% in the third quarter. IFP Advisors Inc now owns 4,610 shares of the specialty chemicals company’s stock valued at $60,000 after acquiring an additional 382 shares during the period. Baird Financial Group Inc. boosted its holdings in shares of Chemours by 4.3% in the first quarter. Baird Financial Group Inc. now owns 10,390 shares of the specialty chemicals company’s stock valued at $327,000 after acquiring an additional 426 shares during the period. Finally, ProShare Advisors LLC boosted its holdings in shares of Chemours by 3.2% in the fourth quarter. ProShare Advisors LLC now owns 15,986 shares of the specialty chemicals company’s stock valued at $489,000 after acquiring an additional 492 shares during the period. 71.89% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chemours

In other news, insider Alisha Bellezza sold 27,716 shares of the firm’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $35.47, for a total value of $983,086.52. Following the completion of the transaction, the insider now owns 43,931 shares in the company, valued at $1,558,232.57. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.63% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on CC. The Goldman Sachs Group increased their price objective on Chemours from $34.00 to $38.00 and gave the company a “neutral” rating in a report on Tuesday, February 14th. Citigroup increased their price objective on Chemours from $33.00 to $35.00 and gave the company a “neutral” rating in a report on Monday, February 13th. Royal Bank of Canada increased their price objective on Chemours from $35.00 to $36.00 in a report on Monday, May 1st. Credit Suisse Group decreased their price target on Chemours from $27.00 to $25.00 in a report on Friday, April 28th. Finally, StockNews.com downgraded Chemours from a “buy” rating to a “hold” rating in a report on Saturday, May 20th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $36.11.

Chemours Price Performance

Chemours stock opened at $26.49 on Thursday. The Chemours Company has a one year low of $23.58 and a one year high of $44.95. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.98 and a current ratio of 1.84. The business has a fifty day moving average of $28.96 and a two-hundred day moving average of $31.34. The company has a market cap of $3.95 billion, a P/E ratio of 8.55, a price-to-earnings-growth ratio of 0.92 and a beta of 1.87.

Chemours (NYSE:CC – Get Rating) last released its earnings results on Friday, April 28th. The specialty chemicals company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.36. Chemours had a return on equity of 53.44% and a net margin of 7.45%. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the company earned $1.46 earnings per share. Chemours’s quarterly revenue was down 12.9% compared to the same quarter last year. As a group, analysts predict that The Chemours Company will post 3.91 earnings per share for the current fiscal year.

Chemours Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Monday, May 15th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date is Friday, May 12th. Chemours’s dividend payout ratio (DPR) is currently 32.26%.

About Chemours

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The Chemours Co is a holding company, which engages in the provision of performance chemicals. The firm delivers solutions, which include a range of industrial and chemical products for markets including coatings, plastics, refrigeration and air conditioning, transportation, semiconductor and consumer electronics, and general industrial.

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Institutional Ownership by Quarter for Chemours (NYSE:CC)

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