The Chemours Company (NYSE:CC) Shares Purchased by Cinctive Capital Management LP

Cinctive Capital Management LP grew its position in shares of The Chemours Company (NYSE:CC) by 577.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 296,415 shares of the specialty chemicals company’s stock after acquiring an additional 252,640 shares during the quarter. Cinctive Capital Management LP owned about 0.20% of Chemours worth $6,023,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. KBC Group NV grew its holdings in shares of Chemours by 19.5% during the 3rd quarter. KBC Group NV now owns 4,468 shares of the specialty chemicals company’s stock worth $91,000 after purchasing an additional 728 shares during the period. Blue Trust Inc. lifted its position in Chemours by 166.9% during the third quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company’s stock valued at $26,000 after buying an additional 731 shares in the last quarter. Arizona State Retirement System grew its stake in Chemours by 2.1% during the second quarter. Arizona State Retirement System now owns 41,657 shares of the specialty chemicals company’s stock worth $940,000 after buying an additional 863 shares during the period. State of Alaska Department of Revenue increased its position in shares of Chemours by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 17,205 shares of the specialty chemicals company’s stock worth $349,000 after acquiring an additional 1,175 shares in the last quarter. Finally, Signaturefd LLC raised its stake in shares of Chemours by 163.7% in the 3rd quarter. Signaturefd LLC now owns 1,959 shares of the specialty chemicals company’s stock valued at $40,000 after acquiring an additional 1,216 shares during the period. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Chemours Stock Down 0.4 %

CC stock opened at $21.74 on Monday. The company has a current ratio of 1.73, a quick ratio of 0.92 and a debt-to-equity ratio of 6.05. The firm has a 50 day simple moving average of $19.71 and a 200-day simple moving average of $21.29. The company has a market capitalization of $3.25 billion, a P/E ratio of 43.48 and a beta of 1.75. The Chemours Company has a twelve month low of $15.10 and a twelve month high of $32.70.

Chemours (NYSE:CC) last announced its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.08. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.44 billion. Chemours had a net margin of 1.34% and a return on equity of 29.48%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period last year, the business earned $0.64 EPS. On average, equities research analysts predict that The Chemours Company will post 1.35 earnings per share for the current fiscal year.

Chemours Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.60%. The ex-dividend date of this dividend is Friday, November 15th. Chemours’s payout ratio is currently 200.00%.

Insiders Place Their Bets

In other Chemours news, SVP Alvenia Scarborough sold 7,500 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $20.64, for a total transaction of $154,800.00. Following the completion of the sale, the senior vice president now owns 16,645 shares in the company, valued at $343,552.80. The trade was a 31.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.47% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CC shares. JPMorgan Chase & Co. lowered their price target on Chemours from $25.00 to $18.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. Royal Bank of Canada lowered their target price on Chemours from $28.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Barclays boosted their price target on Chemours from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. UBS Group lowered their price objective on shares of Chemours from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Finally, The Goldman Sachs Group reduced their target price on shares of Chemours from $29.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 3rd. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Chemours has an average rating of “Hold” and a consensus target price of $24.88.

About Chemours

The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. It operates through three segments: Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure brand for delivering whiteness, brightness, opacity, durability, efficiency, and protection in various of applications, such as architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride, laminate papers used for furniture and building materials, coated paper, and coated paperboard used for packaging.