Canada Pension Plan Investment Board Makes New Investment in The Chemours Company (NYSE:CC)

Canada Pension Plan Investment Board bought a new stake in The Chemours Company (NYSE:CC) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 42,100 shares of the specialty chemicals company’s stock, valued at approximately $950,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CC. Intech Investment Management LLC bought a new stake in Chemours in the 2nd quarter worth about $772,000. Inspire Investing LLC grew its holdings in shares of Chemours by 14.6% in the second quarter. Inspire Investing LLC now owns 15,618 shares of the specialty chemicals company’s stock valued at $352,000 after acquiring an additional 1,995 shares in the last quarter. XTX Topco Ltd increased its position in shares of Chemours by 122.2% during the second quarter. XTX Topco Ltd now owns 26,794 shares of the specialty chemicals company’s stock valued at $605,000 after acquiring an additional 14,735 shares during the last quarter. Seven Eight Capital LP purchased a new stake in shares of Chemours during the second quarter valued at approximately $2,657,000. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in Chemours by 14.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,102 shares of the specialty chemicals company’s stock worth $318,000 after acquiring an additional 1,803 shares during the period. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Chemours Stock Performance

NYSE:CC opened at $20.71 on Friday. The business’s fifty day moving average is $19.57 and its 200 day moving average is $23.69. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of -9.54 and a beta of 1.74. 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 Chemours Company has a 52-week low of $15.10 and a 52-week high of $32.70.

Chemours (NYSE:CC) last announced its quarterly 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). Chemours had a net margin of 2.16% and a return on equity of 33.21%. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the prior year, the company earned $1.10 earnings per share. The company’s quarterly revenue was down 6.4% on a year-over-year basis. Research analysts predict that The Chemours Company will post 1.33 EPS for the current year.

Chemours Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 15th were given 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 dividend yield of 4.83%. Chemours’s dividend payout ratio (DPR) is currently -46.08%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CC. UBS Group decreased their target price on Chemours from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. The Goldman Sachs Group lowered their price objective on shares of Chemours from $29.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. reduced their target price on shares of Chemours from $25.00 to $18.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. Barclays lowered their price target on shares of Chemours from $22.00 to $21.00 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, BMO Capital Markets reduced their price objective on Chemours from $35.00 to $30.00 and set an “outperform” rating for the company in a report on Tuesday, August 6th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $26.63.

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.