Hsbc Holdings PLC Takes Position in The Chemours Company $CC

Hsbc Holdings PLC acquired a new position in shares of The Chemours Company (NYSE:CC) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 230,056 shares of the specialty chemicals company’s stock, valued at approximately $4,680,000. Hsbc Holdings PLC owned approximately 0.15% of Chemours as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Atlas Capital Advisors Inc. purchased a new stake in shares of Chemours during the fourth quarter valued at $26,000. Aster Capital Management DIFC Ltd purchased a new position in Chemours in the 4th quarter worth about $28,000. Covestor Ltd raised its holdings in Chemours by 204.7% during the 4th quarter. Covestor Ltd now owns 2,602 shares of the specialty chemicals company’s stock worth $31,000 after buying an additional 1,748 shares during the period. Eurizon Capital SGR S.p.A. acquired a new stake in Chemours during the 4th quarter worth about $31,000. Finally, Rothschild Investment LLC lifted its stake in Chemours by 87.0% during the fourth quarter. Rothschild Investment LLC now owns 2,698 shares of the specialty chemicals company’s stock valued at $32,000 after buying an additional 1,255 shares in the last quarter. 76.26% of the stock is currently owned by institutional investors and hedge funds.

Chemours Stock Performance

CC stock opened at $15.64 on Friday. The company has a debt-to-equity ratio of 18.98, a quick ratio of 0.88 and a current ratio of 1.66. The stock has a market cap of $2.35 billion, a P/E ratio of -8.19 and a beta of 1.43. The firm has a 50 day simple moving average of $17.39 and a 200 day simple moving average of $19.97. The Chemours Company has a 52 week low of $10.44 and a 52 week high of $28.67.

Chemours (NYSE:CC) last released its quarterly earnings data on Tuesday, August 4th. The specialty chemicals company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.07). Chemours had a negative net margin of 5.00% and a positive return on equity of 60.64%. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the company posted ($2.54) EPS. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. Research analysts anticipate that The Chemours Company will post 0.87 earnings per share for the current fiscal year.

Chemours Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be paid a $0.0875 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 2.2%. Chemours’s dividend payout ratio is -18.32%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CC. Mizuho set a $22.00 target price on shares of Chemours in a report on Wednesday, August 5th. Royal Bank Of Canada reduced their price target on shares of Chemours from $26.00 to $22.00 and set an “outperform” rating for the company in a research report on Thursday, August 6th. Alembic Global Advisors reaffirmed an “overweight” rating and issued a $30.00 price objective on shares of Chemours in a research note on Wednesday, May 13th. Morgan Stanley set a $18.00 price objective on shares of Chemours in a research report on Monday, August 10th. Finally, BMO Capital Markets cut their target price on shares of Chemours from $26.00 to $18.00 and set an “outperform” rating on the stock in a research note on Thursday, August 13th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $20.10.

Insider Buying and Selling

In other news, insider Calderon Gerardo Familiar bought 1,935 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were bought at an average cost of $15.53 per share, with a total value of $30,050.55. Following the transaction, the insider directly owned 58,547 shares in the company, valued at approximately $909,234.91. This trade represents a 3.42% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Denise Dignam purchased 3,378 shares of the business’s stock in a transaction dated Tuesday, August 11th. The shares were purchased at an average cost of $14.95 per share, with a total value of $50,501.10. Following the completion of the purchase, the chief executive officer directly owned 339,916 shares in the company, valued at approximately $5,081,744.20. This represents a 1.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders bought 8,663 shares of company stock worth $130,601. Corporate insiders own 0.85% of the company’s stock.

Chemours Profile

Chemours Company, established in 2015 as a spin-off from E. I. du Pont de Nemours and Company, is a global chemistry organization headquartered in Wilmington, Delaware. Since its formation, Chemours has focused on delivering performance chemicals that help customers lower their carbon footprint, increase energy efficiency and conserve water. The company operates with a commitment to safety, environmental stewardship and innovation.

Chemours’ principal business activities are organized into three core segments.