Wolf Hill Capital Management LP Purchases New Holdings in The Chemours Company $CC

Wolf Hill Capital Management LP purchased a new stake in The Chemours Company (NYSE:CC) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 2,909,262 shares of the specialty chemicals company’s stock, valued at approximately $59,698,056. Chemours accounts for 0.0% of Wolf Hill Capital Management LP’s holdings, making the stock its 8th largest position. Wolf Hill Capital Management LP owned about 1.93% of Chemours as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of CC. Atlas Capital Advisors Inc. bought a new stake in shares of Chemours during the 4th quarter worth about $26,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Chemours in the 4th quarter worth $28,000. Covestor Ltd grew its holdings in shares of Chemours by 204.7% in the fourth quarter. Covestor Ltd now owns 2,602 shares of the specialty chemicals company’s stock valued at $31,000 after purchasing an additional 1,748 shares in the last quarter. Eurizon Capital SGR S.p.A. purchased a new stake in Chemours in the fourth quarter worth about $31,000. Finally, Rothschild Investment LLC raised its holdings in shares of Chemours by 87.0% during the fourth quarter. Rothschild Investment LLC now owns 2,698 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 1,255 shares during the last quarter. 76.26% of the stock is owned by institutional investors.

Insider Transactions at Chemours

In other Chemours news, insider Calderon Gerardo Familiar acquired 1,935 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were acquired at an average cost of $15.53 per share, with a total value of $30,050.55. Following the completion of the acquisition, the insider directly owned 58,547 shares in the company, valued at $909,234.91. This trade represents a 3.42% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Shane Hostetter acquired 3,350 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The stock was purchased at an average price of $14.94 per share, with a total value of $50,049.00. Following the completion of the acquisition, the chief financial officer owned 102,698 shares in the company, valued at $1,534,308.12. The trade was a 3.37% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased 8,663 shares of company stock valued at $130,601 in the last 90 days. 0.85% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CC shares. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $17.00 price objective on shares of Chemours in a report on Thursday, August 13th. BMO Capital Markets decreased their price target on Chemours from $26.00 to $18.00 and set an “outperform” rating on the stock in a research note on Thursday, August 13th. Weiss Ratings lowered shares of Chemours from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, August 6th. UBS Group reiterated a “neutral” rating and set a $18.00 target price (down from $29.00) on shares of Chemours in a research report on Monday, August 10th. Finally, Royal Bank Of Canada cut their price target on shares of Chemours from $26.00 to $22.00 and set an “outperform” rating for the company in a report on Thursday, August 6th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $20.10.

Chemours Price Performance

Shares of NYSE CC traded down $0.23 during midday trading on Friday, hitting $15.65. 731,122 shares of the company’s stock were exchanged, compared to its average volume of 3,007,436. The Chemours Company has a 12-month low of $10.44 and a 12-month high of $28.67. The company has a market cap of $2.36 billion, a price-to-earnings ratio of -8.19 and a beta of 1.43. The business’s fifty day moving average price is $17.52 and its two-hundred day moving average price is $20.00. The company has a current ratio of 1.66, a quick ratio of 0.88 and a debt-to-equity ratio of 18.98.

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

Chemours Dividend Announcement

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 issued a $0.0875 dividend. The ex-dividend date is Friday, August 14th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 2.2%. Chemours’s dividend payout ratio (DPR) is -18.32%.

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.