15,000 Shares in The Chemours Company (NYSE:CC) Acquired by AREX Capital Management LP

AREX Capital Management LP bought a new position in shares of The Chemours Company (NYSE:CC) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 15,000 shares of the specialty chemicals company’s stock, valued at approximately $339,000. Chemours accounts for about 0.4% of AREX Capital Management LP’s investment portfolio, making the stock its 12th largest position.

Several other large investors have also added to or reduced their stakes in CC. Vaughan Nelson Investment Management L.P. boosted its holdings in Chemours by 6.8% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,824,301 shares of the specialty chemicals company’s stock worth $63,744,000 after acquiring an additional 178,625 shares in the last quarter. Khrom Capital Management LLC boosted its holdings in Chemours by 156.7% in the first quarter. Khrom Capital Management LLC now owns 2,235,659 shares of the specialty chemicals company’s stock worth $58,708,000 after acquiring an additional 1,364,634 shares in the last quarter. American Century Companies Inc. boosted its holdings in Chemours by 26.7% in the second quarter. American Century Companies Inc. now owns 1,811,957 shares of the specialty chemicals company’s stock worth $40,896,000 after acquiring an additional 382,100 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Chemours by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 1,606,453 shares of the specialty chemicals company’s stock worth $36,258,000 after acquiring an additional 22,209 shares in the last quarter. Finally, Norges Bank bought a new position in Chemours in the fourth quarter worth approximately $39,171,000. Institutional investors and hedge funds own 76.26% of the company’s stock.

Chemours Stock Performance

Shares of Chemours stock opened at $18.70 on Monday. The business’s fifty day simple moving average is $20.05 and its 200 day simple moving average is $23.88. The firm has a market capitalization of $2.78 billion, a P/E ratio of -8.62 and a beta of 1.74. The Chemours Company has a 12 month low of $15.10 and a 12 month high of $32.70. 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 issued its quarterly earnings results on Thursday, August 1st. The specialty chemicals company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.19). The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. Chemours had a return on equity of 33.21% and a net margin of 2.16%. The business’s revenue was down 6.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.10 earnings per share. As a group, analysts anticipate that The Chemours Company will post 1.33 EPS for the current year.

Chemours Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 15th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a yield of 5.35%. Chemours’s dividend payout ratio (DPR) is currently -46.08%.

Analysts Set New Price Targets

Several brokerages have issued reports on CC. The Goldman Sachs Group cut their price target on Chemours from $29.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, September 3rd. 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. BMO Capital Markets dropped their target price on Chemours from $35.00 to $30.00 and set an “outperform” rating on the stock in a report on Tuesday, August 6th. Mizuho initiated coverage on Chemours in a report on Friday, June 7th. They issued a “neutral” rating and a $25.00 target price on the stock. Finally, UBS Group dropped their target price on Chemours from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target 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.