160,395 Shares in The Chemours Company $CC Bought by Deutsche Bank AG

Deutsche Bank AG acquired a new position in shares of The Chemours Company (NYSE:CC) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 160,395 shares of the specialty chemicals company’s stock, valued at approximately $3,291,000.

A number of other institutional investors and hedge funds have also bought and sold shares of CC. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Chemours in the 2nd quarter valued at approximately $1,467,000. Old West Investment Management LLC bought a new position in shares of Chemours during the second quarter valued at $7,152,000. Bank of New York Mellon Corp bought a new position in shares of Chemours during the second quarter valued at $33,353,000. State of Wyoming acquired a new position in shares of Chemours during the second quarter worth $67,000. Finally, Bank of America Corp DE lifted its holdings in shares of Chemours by 79.1% during the first quarter. Bank of America Corp DE now owns 1,317,003 shares of the specialty chemicals company’s stock worth $29,014,000 after purchasing an additional 581,621 shares during the period. Institutional investors and hedge funds own 76.26% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Weiss Ratings cut shares of Chemours from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, August 6th. UBS Group reaffirmed a “neutral” rating and set a $18.00 target price (down from $29.00) on shares of Chemours in a report on Monday, August 10th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $17.00 price target on shares of Chemours in a research report on Thursday, August 13th. Truist Financial decreased their price target on Chemours from $30.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Finally, Alembic Global Advisors restated an “overweight” rating and set a $30.00 price objective on shares of Chemours in a research report on Wednesday, May 13th. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $20.10.

Chemours Price Performance

Shares of NYSE CC opened at $15.81 on Thursday. The Chemours Company has a twelve month low of $10.44 and a twelve month high of $28.67. The firm has a fifty day simple moving average of $17.64 and a 200 day simple moving average of $20.02. The company has a market capitalization of $2.38 billion, a PE ratio of -8.28 and a beta of 1.43. The company has a quick ratio of 0.88, a current ratio of 1.66 and a debt-to-equity ratio of 18.98.

Chemours (NYSE:CC) last released its earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.07). The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.65 billion. Chemours had a negative net margin of 5.00% and a positive return on equity of 60.64%. Chemours’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($2.54) EPS. On average, sell-side analysts forecast that The Chemours Company will post 0.87 EPS for the current year.

Chemours Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be paid 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 of this dividend is Friday, August 14th. Chemours’s payout ratio is currently -18.32%.

Insider Activity at Chemours

In other Chemours news, CEO Denise Dignam bought 3,378 shares of the stock in a transaction on Tuesday, August 11th. The stock was acquired at an average cost of $14.95 per share, for a total transaction of $50,501.10. Following the completion of the acquisition, the chief executive officer owned 339,916 shares in the company, valued at $5,081,744.20. This trade represents a 1.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, insider Calderon Gerardo Familiar purchased 1,935 shares of the company’s stock in a transaction on 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 approximately $909,234.91. This trade represents a 3.42% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 8,663 shares of company stock worth $130,601 in the last 90 days. 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.