Connor Clark & Lunn Investment Management Ltd. Acquires New Position in The Chemours Company $CC

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in The Chemours Company (NYSE:CC) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 882,998 shares of the specialty chemicals company’s stock, valued at approximately $18,119,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.59% of Chemours as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of CC. Baird Financial Group Inc. acquired a new position in Chemours during the 1st quarter valued at approximately $148,000. Royal Bank of Canada lifted its stake in shares of Chemours by 6.8% during the first quarter. Royal Bank of Canada now owns 585,702 shares of the specialty chemicals company’s stock worth $7,926,000 after buying an additional 37,382 shares during the period. AQR Capital Management LLC acquired a new stake in shares of Chemours during the first quarter worth $161,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Chemours by 149.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,243 shares of the specialty chemicals company’s stock worth $593,000 after buying an additional 25,899 shares during the period. Finally, Empowered Funds LLC purchased a new stake in shares of Chemours during the first quarter valued at $403,000. 76.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Shane Hostetter acquired 3,350 shares of Chemours stock in a transaction on Thursday, August 6th. The stock was acquired at an average price of $14.94 per share, for a total transaction of $50,049.00. Following the purchase, the chief financial officer owned 102,698 shares of the company’s stock, valued at approximately $1,534,308.12. This represents a 3.37% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Denise Dignam acquired 3,378 shares of Chemours stock in a transaction on Tuesday, August 11th. The shares were bought at an average price of $14.95 per share, with a total value of $50,501.10. Following the purchase, the chief executive officer directly owned 339,916 shares in the company, valued at approximately $5,081,744.20. The trade was a 1.00% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders have purchased 8,663 shares of company stock valued at $130,601. Company insiders own 0.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. UBS Group reissued a “neutral” rating and issued a $18.00 target price (down from $29.00) on shares of Chemours in a research report on Monday, August 10th. Weiss Ratings cut Chemours from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, August 6th. Royal Bank Of Canada dropped their price target on Chemours from $26.00 to $22.00 and set an “outperform” rating on the stock in a research note on Thursday, August 6th. Alembic Global Advisors reissued an “overweight” rating and issued a $30.00 price objective on shares of Chemours in a report on Wednesday, May 13th. Finally, Morgan Stanley set a $18.00 price objective on Chemours in a report on Monday, August 10th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $20.10.

Chemours Stock Performance

Shares of NYSE CC opened at $15.80 on Wednesday. The company has a 50 day simple moving average of $17.76 and a two-hundred day simple moving average of $20.02. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of -8.27 and a beta of 1.43. 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 12 month low of $10.44 and a 12 month high of $28.67.

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

Chemours Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be issued a $0.0875 dividend. This represents a $0.35 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Friday, August 14th. Chemours’s dividend payout ratio is presently -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.