2,909,262 Shares in The Chemours Company $CC Acquired by Wolf Hill Capital Management LP

Wolf Hill Capital Management LP purchased a new position in shares of The Chemours Company (NYSE:CC) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,909,262 shares of the specialty chemicals company’s stock, valued at approximately $59,698,056,000. Chemours accounts for about 5.0% of Wolf Hill Capital Management LP’s investment portfolio, making the stock its 8th largest position. Wolf Hill Capital Management LP owned approximately 1.93% of Chemours at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CC. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Chemours during the 2nd quarter worth $34,000. Atlas Capital Advisors Inc. purchased a new stake in Chemours during the fourth quarter valued at about $26,000. Aster Capital Management DIFC Ltd acquired a new stake in Chemours during the fourth quarter worth about $28,000. Allworth Financial LP acquired a new stake in Chemours during the second quarter worth about $51,000. Finally, 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 purchasing an additional 1,748 shares during the period. Institutional investors and hedge funds own 76.26% of the company’s stock.

Insider Transactions at Chemours

In other news, insider Calderon Gerardo Familiar bought 1,935 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was acquired at an average cost of $15.53 per share, for a total transaction of $30,050.55. Following the completion of the purchase, the insider owned 58,547 shares of the company’s stock, valued at $909,234.91. This trade represents a 3.42% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Denise Dignam purchased 3,378 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were purchased at an average cost of $14.95 per share, with a total value of $50,501.10. Following the completion of the acquisition, the chief executive officer owned 339,916 shares in the company, valued at approximately $5,081,744.20. This represents a 1.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have bought 8,663 shares of company stock valued at $130,601. Corporate insiders own 0.85% of the company’s stock.

Chemours Price Performance

CC stock opened at $15.40 on Tuesday. The firm has a market cap of $2.32 billion, a P/E ratio of -8.06 and a beta of 1.43. 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 Chemours Company has a 1 year low of $10.44 and a 1 year high of $28.67. The stock has a 50-day simple moving average of $17.87 and a 200-day simple moving average of $20.04.

Chemours (NYSE:CC) last released its quarterly earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.42 EPS for the quarter, missing the consensus estimate 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 company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period last year, the firm posted ($2.54) earnings per share. The business’s revenue was down 1.5% on a year-over-year basis. On average, equities analysts predict that The Chemours Company will post 0.87 earnings per share for the current fiscal year.

Chemours Announces Dividend

The company 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 dividend of $0.0875 per share. 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 presently -18.32%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CC shares. Alembic Global Advisors reaffirmed an “overweight” rating and issued a $30.00 price objective on shares of Chemours in a research note on Wednesday, May 13th. Royal Bank Of Canada dropped their target price on shares of Chemours from $26.00 to $22.00 and set an “outperform” rating for the company in a research report on Thursday, August 6th. BMO Capital Markets cut their price target 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. Weiss Ratings cut shares of Chemours from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, August 6th. Finally, UBS Group reiterated a “neutral” rating and set a $18.00 price objective (down from $29.00) on shares of Chemours in a research note on Monday, August 10th. Five investment 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 data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target 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.