Connor Clark & Lunn Investment Management Ltd. Takes Position in The Chemours Company $CC

Connor Clark & Lunn Investment Management Ltd. bought a new stake in The Chemours Company (NYSE:CC) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 882,998 shares of the specialty chemicals company’s stock, valued at approximately $18,119,000.

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

Chemours Stock Up 2.6%

NYSE CC opened at $15.80 on Wednesday. The business has a fifty day moving average price of $17.76 and a 200 day moving average price of $20.02. The Chemours Company has a one year low of $10.44 and a one year high of $28.67. 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 company has a market cap of $2.38 billion, a P/E ratio of -8.27 and a beta of 1.43.

Chemours (NYSE:CC) last announced its quarterly earnings data on Tuesday, August 4th. The specialty chemicals company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the previous year, the business posted ($2.54) EPS. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. Research analysts anticipate that The Chemours Company will post 0.87 EPS for the current fiscal year.

Chemours Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Zacks Research cut Chemours from a “strong-buy” rating to a “strong sell” rating in a research report on Tuesday, August 11th. Weiss Ratings cut Chemours from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, August 6th. The Goldman Sachs Group reiterated a “neutral” rating and set a $17.00 price target on shares of Chemours in a research report on Thursday, August 13th. Mizuho set a $22.00 price objective on Chemours in a report on Wednesday, August 5th. Finally, Royal Bank Of Canada cut their price objective on Chemours from $26.00 to $22.00 and set an “outperform” rating for the company in a research report on Thursday, August 6th. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Chemours presently has an average rating of “Hold” and an average price target of $20.10.

Insider Transactions at Chemours

In other Chemours news, insider Calderon Gerardo Familiar purchased 1,935 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were purchased at an average cost of $15.53 per share, for a total transaction of $30,050.55. Following the completion of the transaction, the insider owned 58,547 shares of the company’s stock, valued at $909,234.91. The trade was a 3.42% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Shane Hostetter purchased 3,350 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were acquired at an average price of $14.94 per share, for a total transaction of $50,049.00. Following the completion of the transaction, the chief financial officer directly owned 102,698 shares of the company’s stock, valued at $1,534,308.12. The trade was a 3.37% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have acquired 8,663 shares of company stock valued at $130,601. Corporate insiders own 0.85% of the company’s stock.

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.