Y Intercept Hong Kong Ltd Takes $2.12 Million Position in The Chemours Company $CC

Y Intercept Hong Kong Ltd purchased a new stake in The Chemours Company (NYSE:CC) during the third quarter, according to its most recent disclosure with the SEC. The firm purchased 134,096 shares of the specialty chemicals company’s stock, valued at approximately $2,124,000.

A number of other hedge funds have also made changes to their positions in the company. Entropy Technologies LP increased its position in shares of Chemours by 478.3% during the second quarter. Entropy Technologies LP now owns 62,075 shares of the specialty chemicals company’s stock worth $711,000 after purchasing an additional 51,341 shares in the last quarter. Vision One Management Partners LP lifted its holdings in Chemours by 10.4% in the 2nd quarter. Vision One Management Partners LP now owns 1,720,189 shares of the specialty chemicals company’s stock valued at $19,696,000 after purchasing an additional 161,691 shares in the last quarter. Bryce Point Capital LLC acquired a new stake in Chemours during the 2nd quarter worth $955,000. Geode Capital Management LLC grew its holdings in shares of Chemours by 41.4% during the second quarter. Geode Capital Management LLC now owns 3,484,416 shares of the specialty chemicals company’s stock worth $39,901,000 after buying an additional 1,020,933 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Chemours by 8.8% in the second quarter. Bank of New York Mellon Corp now owns 1,054,620 shares of the specialty chemicals company’s stock valued at $12,075,000 after buying an additional 85,529 shares during the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.

Chemours Trading Down 3.3%

Shares of Chemours stock opened at $15.11 on Thursday. The stock has a 50 day moving average of $13.15 and a 200 day moving average of $13.82. The company has a debt-to-equity ratio of 13.66, a quick ratio of 0.88 and a current ratio of 1.71. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of -6.81 and a beta of 1.61. The Chemours Company has a fifty-two week low of $9.13 and a fifty-two week high of $19.43.

Chemours (NYSE:CC) last released its quarterly earnings results on Thursday, November 6th. The specialty chemicals company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.04). The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Chemours had a positive return on equity of 35.27% and a negative net margin of 5.70%.The business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.40 earnings per share. As a group, research analysts predict that The Chemours Company will post 2.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. UBS Group dropped their price objective on shares of Chemours from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, November 11th. Truist Financial boosted their target price on Chemours from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, January 21st. Zacks Research cut Chemours from a “hold” rating to a “strong sell” rating in a report on Friday, October 17th. Mizuho reduced their price objective on Chemours from $19.00 to $18.00 and set an “outperform” rating on the stock in a research report on Thursday, October 16th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $18.00 target price on shares of Chemours in a report on Friday, January 16th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Chemours presently has a consensus rating of “Hold” and an average price target of $16.67.

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.