The Chemours Company $CC Position Boosted by Legal & General Group Plc

Legal & General Group Plc boosted its stake in The Chemours Company (NYSE:CC) by 19.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,139,617 shares of the specialty chemicals company’s stock after acquiring an additional 355,074 shares during the quarter. Legal & General Group Plc’s holdings in Chemours were worth $25,226,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Cooper Creek Partners Management LLC bought a new position in shares of Chemours during the 3rd quarter valued at $63,103,000. Scopia Capital Management LP boosted its stake in shares of Chemours by 71.7% during the 2nd quarter. Scopia Capital Management LP now owns 3,355,261 shares of the specialty chemicals company’s stock worth $38,418,000 after acquiring an additional 1,401,539 shares in the last quarter. State Street Corp increased its holdings in shares of Chemours by 22.7% during the 2nd quarter. State Street Corp now owns 6,114,328 shares of the specialty chemicals company’s stock valued at $70,009,000 after acquiring an additional 1,131,682 shares during the last quarter. Wolf Hill Capital Management LP bought a new position in shares of Chemours in the 3rd quarter valued at approximately $17,025,000. Finally, Moore Capital Management LP raised its stake in shares of Chemours by 273.5% in the 2nd quarter. Moore Capital Management LP now owns 1,279,340 shares of the specialty chemicals company’s stock valued at $14,648,000 after acquiring an additional 936,787 shares in the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.

Chemours Price Performance

NYSE:CC opened at $22.17 on Monday. The firm has a market cap of $3.33 billion, a PE ratio of -8.40 and a beta of 1.40. The company has a quick ratio of 0.87, a current ratio of 1.82 and a debt-to-equity ratio of 18.98. The Chemours Company has a 12 month low of $9.13 and a 12 month high of $28.67. The company’s 50-day moving average price is $22.83 and its two-hundred day moving average price is $17.72.

Chemours (NYSE:CC) last announced its earnings results on Tuesday, May 5th. The specialty chemicals company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.10. Chemours had a positive return on equity of 52.49% and a negative net margin of 6.82%.The company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the prior year, the business earned $0.13 earnings per share. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities analysts anticipate that The Chemours Company will post 1.27 EPS for the current fiscal year.

Chemours Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Sunday, May 17th will be paid a $0.0875 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 1.6%. Chemours’s payout ratio is currently -13.26%.

Wall Street Analysts Forecast Growth

CC has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Chemours from $17.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, May 21st. BMO Capital Markets lowered their price target on Chemours from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Monday, February 23rd. UBS Group lifted their price objective on Chemours from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Zacks Research raised Chemours from a “strong sell” rating to a “hold” rating in a research report on Friday, April 24th. Finally, Mizuho set a $30.00 target price on Chemours in a report on Wednesday, May 6th. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Chemours presently has an average rating of “Hold” and an average price target of $24.60.

Chemours Company 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.