ExodusPoint Capital Management LP acquired a new position in The Chemours Company (NYSE:CC – Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 19,501 shares of the specialty chemicals company’s stock, valued at approximately $584,000.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Ameritas Advisory Services LLC acquired a new position in shares of Chemours in the first quarter valued at $29,000. Operose Advisors LLC acquired a new stake in Chemours in the 1st quarter valued at $33,000. Tanglewood Legacy Advisors LLC acquired a new stake in Chemours in the 4th quarter valued at $41,000. GPS Wealth Strategies Group LLC bought a new position in Chemours during the 1st quarter valued at about $47,000. Finally, Vigilant Capital Management LLC bought a new position in Chemours during the 1st quarter valued at about $54,000. Institutional investors and hedge funds own 76.46% of the company’s stock.
Chemours Price Performance
Shares of CC stock opened at $33.31 on Thursday. The Chemours Company has a 12-month low of $23.58 and a 12-month high of $39.05. The firm has a market capitalization of $4.93 billion, a price-to-earnings ratio of -48.99, a price-to-earnings-growth ratio of 1.35 and a beta of 1.98. The company has a quick ratio of 0.88, a current ratio of 1.54 and a debt-to-equity ratio of 4.45. The firm has a fifty day moving average of $35.78 and a 200-day moving average of $32.55.
Chemours Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.00%. The ex-dividend date is Monday, August 14th. Chemours’s dividend payout ratio (DPR) is presently -147.06%.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on the stock. Morgan Stanley restated an “equal weight” rating and issued a $33.00 price objective on shares of Chemours in a research report on Tuesday, August 1st. Royal Bank of Canada boosted their target price on Chemours from $37.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Monday, July 31st. Barclays lifted their price objective on Chemours from $38.00 to $40.00 in a research report on Tuesday, July 11th. TheStreet lowered shares of Chemours from a “b” rating to a “c+” rating in a research note on Friday, July 28th. Finally, UBS Group raised their target price on shares of Chemours from $41.00 to $43.00 in a research note on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $38.22.
Check Out Our Latest Report on CC
Insider Activity
In related news, CEO Mark Newman acquired 7,661 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The shares were acquired at an average cost of $34.63 per share, for a total transaction of $265,300.43. Following the completion of the acquisition, the chief executive officer now directly owns 266,955 shares in the company, valued at approximately $9,244,651.65. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.63% of the stock is currently owned by company insiders.
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.
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