The Manufacturers Life Insurance Company Takes $1.52 Million Position in The Chemours Company $CC

The Manufacturers Life Insurance Company purchased a new stake in The Chemours Company (NYSE:CC) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 74,191 shares of the specialty chemicals company’s stock, valued at approximately $1,522,000.

A number of other institutional investors have also recently added to or reduced their stakes in CC. Baird Financial Group Inc. acquired a new position in Chemours during the first quarter worth $148,000. Royal Bank of Canada increased its stake in shares of Chemours by 6.8% in the 1st quarter. Royal Bank of Canada now owns 585,702 shares of the specialty chemicals company’s stock worth $7,926,000 after acquiring an additional 37,382 shares during the last quarter. AQR Capital Management LLC purchased a new position in shares of Chemours during the 1st quarter worth $161,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Chemours by 149.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,243 shares of the specialty chemicals company’s stock worth $593,000 after acquiring an additional 25,899 shares during the period. Finally, Empowered Funds LLC purchased a new position in shares of Chemours during the 1st quarter worth $403,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Insider Activity

In related news, CFO Shane Hostetter acquired 3,350 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were purchased at an average cost of $14.94 per share, for a total transaction of $50,049.00. Following the acquisition, the chief financial officer owned 102,698 shares in the company, valued at $1,534,308.12. The trade was a 3.37% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Calderon Gerardo Familiar acquired 1,935 shares of the stock in a transaction that occurred 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 $909,234.91. This trade represents a 3.42% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have purchased 8,663 shares of company stock valued at $130,601. Company insiders own 0.85% of the company’s stock.

Chemours Stock Performance

Shares of Chemours stock opened at $15.51 on Friday. The firm has a market cap of $2.33 billion, a PE ratio of -8.12 and a beta of 1.42. The company has a quick ratio of 0.88, a current ratio of 1.66 and a debt-to-equity ratio of 18.98. The Chemours Company has a 52 week low of $10.44 and a 52 week high of $28.67. The business’s fifty day simple moving average is $16.96 and its 200-day simple moving average is $19.84.

Chemours (NYSE:CC) last issued its quarterly earnings data on Tuesday, August 4th. The specialty chemicals company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.07). Chemours had a positive return on equity of 60.64% and a negative net margin of 5.00%.The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the previous year, the business posted ($2.54) earnings per share. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. Equities analysts forecast that The Chemours Company will post 0.87 earnings per share for the current 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. This represents a $0.35 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, August 14th. Chemours’s payout ratio is -18.32%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CC shares. Morgan Stanley set a $18.00 price objective on shares of Chemours in a report on Monday, August 10th. Royal Bank Of Canada reduced their target price on shares of Chemours from $26.00 to $22.00 and set an “outperform” rating on the stock in a research note on Thursday, August 6th. BMO Capital Markets decreased their target price on shares of Chemours from $26.00 to $18.00 and set an “outperform” rating on the stock in a report on Thursday, August 13th. JPMorgan Chase & Co. dropped their price target on shares of Chemours from $22.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, August 13th. Finally, Alembic Global Advisors restated an “overweight” rating and set a $30.00 price target on shares of Chemours in a report on Wednesday, May 13th. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $20.10.

About Chemours

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.