Point72 Hong Kong Ltd Takes $789,000 Position in The Chemours Company (NYSE:CC)

Point72 Hong Kong Ltd bought a new position in The Chemours Company (NYSE:CC) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 34,979 shares of the specialty chemicals company’s stock, valued at approximately $789,000.

A number of other institutional investors have also recently bought and sold shares of the business. New Covenant Trust Company N.A. bought a new stake in shares of Chemours in the 1st quarter valued at approximately $29,000. Neo Ivy Capital Management bought a new stake in Chemours in the fourth quarter valued at $40,000. North Star Investment Management Corp. raised its stake in Chemours by 1,510.0% during the first quarter. North Star Investment Management Corp. now owns 1,288 shares of the specialty chemicals company’s stock worth $34,000 after acquiring an additional 1,208 shares in the last quarter. Sunbelt Securities Inc. lifted its holdings in shares of Chemours by 1,969.7% during the first quarter. Sunbelt Securities Inc. now owns 1,366 shares of the specialty chemicals company’s stock valued at $36,000 after acquiring an additional 1,300 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in shares of Chemours in the 1st quarter valued at $42,000. Institutional investors and hedge funds own 76.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. The Goldman Sachs Group cut their price target on shares of Chemours from $29.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, September 3rd. UBS Group cut their target price on shares of Chemours from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Mizuho began coverage on Chemours in a report on Friday, June 7th. They set a “neutral” rating and a $25.00 price target for the company. JPMorgan Chase & Co. reduced their price objective on Chemours from $25.00 to $18.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. Finally, Barclays lowered their target price on Chemours from $22.00 to $21.00 and set an “equal weight” rating for the company in a research note on Wednesday. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Chemours currently has a consensus rating of “Hold” and a consensus target price of $26.63.

Chemours Stock Up 11.3 %

Shares of CC opened at $20.80 on Friday. The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of -9.59 and a beta of 1.74. The Chemours Company has a 52 week low of $15.10 and a 52 week high of $32.70. The company has a debt-to-equity ratio of 5.45, a quick ratio of 1.01 and a current ratio of 1.89. The business’s fifty day moving average price is $19.63 and its two-hundred day moving average price is $23.73.

Chemours (NYSE:CC) last announced its quarterly earnings data 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). Chemours had a return on equity of 33.21% and a net margin of 2.16%. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the previous year, the business earned $1.10 earnings per share. Chemours’s revenue for the quarter was down 6.4% compared to the same quarter last year. On average, analysts predict that The Chemours Company will post 1.33 earnings per share for the current year.

Chemours Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 15th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.00 annualized dividend and a yield of 4.81%. Chemours’s dividend payout ratio is currently -46.08%.

Chemours Company 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.