WINTON GROUP Ltd Has $510,000 Position in The Chemours Company $CC

WINTON GROUP Ltd lowered its holdings in The Chemours Company (NYSE:CC) by 77.7% during the second quarter, HoldingsChannel.com reports. The fund owned 24,832 shares of the specialty chemicals company’s stock after selling 86,344 shares during the period. WINTON GROUP Ltd’s holdings in Chemours were worth $510,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CC. Northwestern Mutual Wealth Management Co. bought a new position in Chemours during the second quarter worth about $34,000. Allworth Financial LP bought a new stake in shares of Chemours in the 2nd quarter valued at approximately $51,000. Covestor Ltd raised its holdings in shares of Chemours by 204.7% in 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 in the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in shares of Chemours in the 4th quarter worth approximately $31,000. Finally, Rothschild Investment LLC lifted its position 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 buying an additional 1,255 shares during the period. Institutional investors and hedge funds own 76.26% of the company’s stock.

Insider Activity

In related news, CEO Denise Dignam acquired 3,378 shares of the firm’s stock in a transaction on Tuesday, August 11th. The shares were purchased at an average price of $14.95 per share, with a total value of $50,501.10. Following the acquisition, the chief executive officer directly owned 339,916 shares in the company, valued at $5,081,744.20. The trade was a 1.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, insider Calderon Gerardo Familiar acquired 1,935 shares of the firm’s stock in a transaction on Wednesday, August 12th. The shares were bought at an average cost of $15.53 per share, for a total transaction of $30,050.55. Following the acquisition, the insider owned 58,547 shares in the company, valued at approximately $909,234.91. The trade was a 3.42% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders acquired 8,663 shares of company stock worth $130,601. 0.85% of the stock is owned by corporate insiders.

Chemours Stock Up 0.8%

NYSE CC opened at $14.70 on Wednesday. The firm has a market cap of $2.21 billion, a PE ratio of -7.70 and a beta of 1.42. The Chemours Company has a one year low of $10.44 and a one year high of $28.67. The stock’s 50 day simple moving average is $16.24 and its 200 day simple moving average is $19.60. The company has a debt-to-equity ratio of 18.98, a current ratio of 1.66 and a quick ratio of 0.88.

Chemours (NYSE:CC) last released its quarterly earnings results 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 business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the business earned ($2.54) earnings per share. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. As a group, sell-side analysts forecast that The Chemours Company will post 0.87 earnings per share for the current fiscal year.

Chemours Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th were paid a $0.0875 dividend. The ex-dividend date was Friday, August 14th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 2.4%. Chemours’s dividend payout ratio (DPR) is -18.32%.

Wall Street Analysts Forecast Growth

CC has been the topic of several recent analyst reports. Truist Financial decreased their price target on Chemours from $30.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. BMO Capital Markets cut their price objective on Chemours from $26.00 to $18.00 and set an “outperform” rating for the company in a report on Thursday, August 13th. Mizuho set a $22.00 target price on shares of Chemours in a research note on Wednesday, August 5th. 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. Finally, UBS Group reaffirmed a “neutral” rating and issued a $18.00 target price (down from $29.00) on shares of Chemours in a report on Monday, August 10th. Five research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $20.10.

Chemours Profile

The Chemours Company (NYSE: CC) is a global chemistry company headquartered in Wilmington, Delaware. Formed in 2015 through a spin-off from DuPont, Chemours develops and manufactures chemical products used in industries including transportation, electronics, energy, construction, and consumer goods.

The company operates through businesses focused on thermal and specialized solutions, titanium technologies, and advanced performance materials. Its products include refrigerants and heat-transfer fluids, titanium dioxide pigments used to provide whiteness and opacity in coatings, plastics, and paper, as well as fluoropolymers, specialty fluids, and other performance materials used in demanding industrial applications.

Chemours serves customers in North America, Latin America, Europe, the Asia-Pacific region, and other international markets through manufacturing facilities, research and development operations, and commercial activities around the world.