Quantbot Technologies LP Has $2.78 Million Stock Holdings in The Chemours Company (NYSE:CC)

Quantbot Technologies LP grew its stake in shares of The Chemours Company (NYSE:CC) by 119.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 122,973 shares of the specialty chemicals company’s stock after purchasing an additional 66,966 shares during the period. Quantbot Technologies LP owned about 0.08% of Chemours worth $2,776,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Mitsubishi UFJ Trust & Banking Corp lifted its stake in Chemours by 169.3% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 35,105 shares of the specialty chemicals company’s stock valued at $1,009,000 after buying an additional 22,067 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Chemours in the 1st quarter worth approximately $1,764,000. Edgestream Partners L.P. acquired a new position in Chemours in the 1st quarter worth approximately $1,228,000. Assenagon Asset Management S.A. purchased a new position in Chemours during the 2nd quarter worth approximately $2,504,000. Finally, Easterly Investment Partners LLC acquired a new stake in Chemours during the 1st quarter valued at $1,153,000. Institutional investors and hedge funds own 76.26% of the company’s stock.

Chemours Stock Up 2.5 %

CC stock opened at $18.49 on Wednesday. The firm has a market cap of $2.75 billion, a PE ratio of -8.52 and a beta of 1.75. The Chemours Company has a 1 year low of $15.10 and a 1 year high of $32.70. The company has a fifty day simple moving average of $20.44 and a 200 day simple moving average of $23.94. The company has a current ratio of 1.89, a quick ratio of 1.01 and a debt-to-equity ratio of 5.45.

Chemours (NYSE:CC) last posted its earnings results on Thursday, August 1st. The specialty chemicals company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.19). The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. Chemours had a net margin of 2.16% and a return on equity of 33.21%. Chemours’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter last year, the business earned $1.10 earnings per share. Sell-side analysts anticipate that The Chemours Company will post 1.33 EPS for the current fiscal year.

Chemours Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.00 annualized dividend and a yield of 5.41%. Chemours’s dividend payout ratio (DPR) is presently -46.08%.

Analyst Ratings Changes

Several research firms recently weighed in on CC. Mizuho began coverage on Chemours in a research report on Friday, June 7th. They set a “neutral” rating and a $25.00 price target on the stock. JPMorgan Chase & Co. dropped their target price on Chemours from $25.00 to $18.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. UBS Group decreased their price target on shares of Chemours from $30.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Barclays dropped their price objective on shares of Chemours from $30.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 6th. Finally, BMO Capital Markets decreased their target price on shares of Chemours from $35.00 to $30.00 and set an “outperform” rating for the company in a research note on Tuesday, August 6th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $26.75.

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.