Point72 Hong Kong Ltd Acquires New Shares in The Chemours Company (NYSE:CC)

Point72 Hong Kong Ltd acquired a new stake in shares of The Chemours Company (NYSE:CC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 8,682 shares of the specialty chemicals company’s stock, valued at approximately $147,000.

Other institutional investors have also recently bought and sold shares of the company. Quadrant Capital Group LLC boosted its position in Chemours by 100.4% during the fourth quarter. Quadrant Capital Group LLC now owns 2,234 shares of the specialty chemicals company’s stock valued at $38,000 after purchasing an additional 1,119 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Chemours in the fourth quarter worth about $48,000. Itau Unibanco Holding S.A. lifted its position in shares of Chemours by 39.3% in the fourth quarter. Itau Unibanco Holding S.A. now owns 3,554 shares of the specialty chemicals company’s stock worth $60,000 after buying an additional 1,003 shares during the last quarter. KBC Group NV lifted its position in shares of Chemours by 38.2% in the fourth quarter. KBC Group NV now owns 6,176 shares of the specialty chemicals company’s stock worth $104,000 after buying an additional 1,708 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its position in shares of Chemours by 54.8% in the fourth quarter. Sterling Capital Management LLC now owns 8,453 shares of the specialty chemicals company’s stock worth $143,000 after buying an additional 2,991 shares during the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on CC shares. Morgan Stanley reduced their price target on Chemours from $22.00 to $15.00 and set an “equal weight” rating for the company in a research report on Monday, May 12th. Mizuho set a $15.00 price target on Chemours in a research report on Tuesday, April 15th. Barclays reduced their price target on Chemours from $19.00 to $16.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 1st. Royal Bank of Canada reduced their price target on Chemours from $17.00 to $14.00 and set an “outperform” rating for the company in a research report on Thursday, May 8th. Finally, BMO Capital Markets decreased their target price on Chemours from $34.00 to $27.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $17.56.

Chemours Trading Up 1.1%

Shares of CC stock opened at $11.16 on Friday. The Chemours Company has a 12-month low of $9.33 and a 12-month high of $29.17. The company has a market capitalization of $1.67 billion, a P/E ratio of 19.58 and a beta of 1.76. The firm has a 50-day moving average price of $12.31 and a 200 day moving average price of $16.30. The company has a quick ratio of 0.92, a current ratio of 1.68 and a debt-to-equity ratio of 6.70.

Chemours (NYSE:CC) last released its quarterly earnings results on Tuesday, May 6th. The specialty chemicals company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). Chemours had a net margin of 1.51% and a return on equity of 26.54%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period in the prior year, the business earned $0.32 earnings per share. The company’s revenue for the quarter was up .4% on a year-over-year basis. Research analysts forecast that The Chemours Company will post 2.03 earnings per share for the current fiscal year.

Chemours Dividend Announcement

The firm also recently declared a dividend, which will be paid on Monday, June 16th. Investors of record on Monday, May 19th will be issued a dividend of $0.0875 per share. The ex-dividend date is Friday, May 16th. This represents a yield of 3.17%. Chemours’s dividend payout ratio is 175.00%.

Chemours Profile

The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. It operates through three segments: Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure brand for delivering whiteness, brightness, opacity, durability, efficiency, and protection in various of applications, such as architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride, laminate papers used for furniture and building materials, coated paper, and coated paperboard used for packaging.