The Manufacturers Life Insurance Company Takes Position in The Chemours Company $CC

The Manufacturers Life Insurance Company bought a new stake in The Chemours Company (NYSE:CC) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 74,191 shares of the specialty chemicals company’s stock, valued at approximately $1,522,000.

A number of other hedge funds have also recently added to or reduced their stakes in CC. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Chemours in the first quarter worth about $3,745,000. Old West Investment Management LLC acquired a new stake in shares of Chemours during the 2nd quarter valued at about $7,152,000. BlackRock Inc. acquired a new stake in shares of Chemours during the 2nd quarter valued at about $477,769,000. Deutsche Bank AG purchased a new position in shares of Chemours in the 2nd quarter valued at about $3,291,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Chemours in the 2nd quarter valued at about $1,467,000. 76.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Chemours

In other news, insider Calderon Gerardo Familiar acquired 1,935 shares of the firm’s stock in a transaction on Wednesday, August 12th. The shares were bought at an average price of $15.53 per share, for a total transaction of $30,050.55. Following the acquisition, 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 acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Denise Dignam acquired 3,378 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was purchased at an average price of $14.95 per share, for a total transaction of $50,501.10. Following the acquisition, the chief executive officer directly owned 339,916 shares in the company, valued at $5,081,744.20. This represents a 1.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders bought 8,663 shares of company stock valued at $130,601. 0.85% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CC shares. Mizuho set a $22.00 price target on Chemours in a research report on Wednesday, August 5th. Truist Financial cut their price objective on Chemours from $30.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Royal Bank Of Canada reduced their target price on Chemours from $26.00 to $22.00 and set an “outperform” rating for the company in a research note on Thursday, August 6th. The Goldman Sachs Group reiterated a “neutral” rating and set a $17.00 target price on shares of Chemours in a research report on Thursday, August 13th. Finally, Morgan Stanley set a $18.00 price target on shares of Chemours in a research note on Monday, August 10th. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $20.10.

Chemours Trading Down 1.1%

Shares of Chemours stock opened at $15.51 on Friday. The company has a current ratio of 1.66, a quick ratio of 0.88 and a debt-to-equity ratio of 18.98. The Chemours Company has a twelve month low of $10.44 and a twelve month high of $28.67. The firm has a market capitalization of $2.33 billion, a PE ratio of -8.12 and a beta of 1.42. The firm’s 50-day moving average price is $16.96 and its 200 day moving average price is $19.84.

Chemours (NYSE:CC) last announced its earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.07). The firm had revenue of $1.59 billion for 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 revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($2.54) EPS. On average, sell-side analysts predict that The Chemours Company will post 0.87 EPS for the current fiscal year.

Chemours Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be paid a $0.0875 dividend. This represents a $0.35 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Friday, August 14th. Chemours’s dividend payout ratio is currently -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.