nVerses Capital LLC Makes New $207,000 Investment in The Chemours Company (NYSE:CC)

nVerses Capital LLC acquired a new stake in shares of The Chemours Company (NYSE:CC) during the third quarter, according to its most recent disclosure with the SEC. The fund acquired 10,200 shares of the specialty chemicals company’s stock, valued at approximately $207,000.

Other hedge funds also recently made changes to their positions in the company. Matrix Trust Co purchased a new position in Chemours during the third quarter valued at approximately $25,000. New Covenant Trust Company N.A. purchased a new position in shares of Chemours during the 1st quarter valued at $29,000. North Star Investment Management Corp. boosted its holdings in Chemours by 1,510.0% in the 1st quarter. North Star Investment Management Corp. now owns 1,288 shares of the specialty chemicals company’s stock worth $34,000 after buying an additional 1,208 shares during the period. Sunbelt Securities Inc. increased its stake in Chemours by 1,969.7% in the 1st quarter. Sunbelt Securities Inc. now owns 1,366 shares of the specialty chemicals company’s stock worth $36,000 after buying an additional 1,300 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in Chemours during the first quarter valued at about $42,000. 76.26% of the stock is currently owned by institutional investors.

Chemours Stock Performance

Shares of NYSE:CC opened at $19.65 on Friday. The firm has a fifty day simple moving average of $18.97 and a two-hundred day simple moving average of $22.87. The Chemours Company has a 52 week low of $15.10 and a 52 week high of $32.70. The company has a quick ratio of 1.01, a current ratio of 1.89 and a debt-to-equity ratio of 5.45. The stock has a market capitalization of $2.93 billion, a P/E ratio of -9.06 and a beta of 1.74.

Chemours (NYSE:CC) last released its quarterly earnings results on Thursday, August 1st. The specialty chemicals company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.19). Chemours had a return on equity of 33.21% and a net margin of 2.16%. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the prior year, the business posted $1.10 EPS. The company’s revenue was down 6.4% on a year-over-year basis. On average, analysts expect that The Chemours Company will post 1.32 earnings per share for the current fiscal year.

Chemours Announces Dividend

The business 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 was Thursday, August 15th. This represents a $1.00 annualized dividend and a yield of 5.09%. Chemours’s payout ratio is presently -46.08%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. JPMorgan Chase & Co. cut their target price on Chemours from $25.00 to $18.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. Barclays reduced their price objective on shares of Chemours from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 25th. BMO Capital Markets upped their target price on shares of Chemours from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Monday, October 7th. Royal Bank of Canada reduced their price target on shares of Chemours from $35.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, October 11th. Finally, UBS Group dropped their price objective 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. Five equities research 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 has an average rating of “Hold” and an average target price of $25.38.

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.