The Chemours Company (NYSE:CC) Stake Boosted by Cinctive Capital Management LP

Cinctive Capital Management LP increased its stake in The Chemours Company (NYSE:CC) by 577.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 296,415 shares of the specialty chemicals company’s stock after purchasing an additional 252,640 shares during the period. Cinctive Capital Management LP’s holdings in Chemours were worth $6,023,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. FMR LLC lifted its stake in Chemours by 3.5% in the third quarter. FMR LLC now owns 18,142,202 shares of the specialty chemicals company’s stock valued at $368,650,000 after buying an additional 618,361 shares during the last quarter. Marshall Wace LLP lifted its position in Chemours by 23.8% in the 2nd quarter. Marshall Wace LLP now owns 7,009,868 shares of the specialty chemicals company’s stock valued at $158,213,000 after purchasing an additional 1,347,710 shares during the last quarter. Khrom Capital Management LLC boosted its stake in Chemours by 54.6% during the 2nd quarter. Khrom Capital Management LLC now owns 3,456,626 shares of the specialty chemicals company’s stock valued at $78,016,000 after purchasing an additional 1,220,967 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in Chemours by 6.8% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,824,301 shares of the specialty chemicals company’s stock valued at $63,744,000 after purchasing an additional 178,625 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of 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 valued at $40,896,000 after purchasing an additional 382,100 shares during the period. Institutional investors and hedge funds own 76.26% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CC. Barclays boosted their price objective on Chemours from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Morgan Stanley decreased their price target on Chemours from $30.00 to $25.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 5th. Royal Bank of Canada lowered their price target on Chemours from $28.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. BMO Capital Markets upped their price objective on shares of Chemours from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, October 7th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Chemours from $25.00 to $18.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $24.88.

Insider Transactions at Chemours

In other news, SVP Alvenia Scarborough sold 7,500 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $20.64, for a total value of $154,800.00. Following the completion of the sale, the senior vice president now owns 16,645 shares in the company, valued at $343,552.80. This represents a 31.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.47% of the stock is currently owned by insiders.

Chemours Trading Down 0.4 %

Chemours stock opened at $21.74 on Monday. The Chemours Company has a 1 year low of $15.10 and a 1 year high of $32.70. The firm’s 50 day moving average price is $19.71 and its two-hundred day moving average price is $21.29. The firm has a market cap of $3.25 billion, a price-to-earnings ratio of 43.48 and a beta of 1.75. The company has a debt-to-equity ratio of 6.05, a quick ratio of 0.92 and a current ratio of 1.73.

Chemours (NYSE:CC) last announced its earnings results on Monday, November 4th. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.08. Chemours had a return on equity of 29.48% and a net margin of 1.34%. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period in the previous year, the firm earned $0.64 earnings per share. Chemours’s revenue for the quarter was up .9% compared to the same quarter last year. On average, research analysts predict that The Chemours Company will post 1.35 EPS for the current fiscal year.

Chemours Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.60%. The ex-dividend date of this dividend is Friday, November 15th. Chemours’s payout ratio is 200.00%.

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.