TCG Advisors LP Acquires New Holdings in Chemours Co (NYSE:CC)

TCG Advisors LP acquired a new position in Chemours Co (NYSE:CC) in the 1st quarter, HoldingsChannel reports. The institutional investor acquired 1,199 shares of the specialty chemicals company’s stock, valued at approximately $45,000.

A number of other hedge funds also recently bought and sold shares of CC. Trexquant Investment LP purchased a new stake in Chemours during the first quarter valued at about $729,000. Northern Trust Corp lifted its stake in Chemours by 6.0% during the first quarter. Northern Trust Corp now owns 1,768,722 shares of the specialty chemicals company’s stock valued at $65,725,000 after buying an additional 99,976 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in Chemours by 12.5% during the first quarter. Commonwealth Equity Services LLC now owns 42,312 shares of the specialty chemicals company’s stock valued at $1,572,000 after buying an additional 4,699 shares in the last quarter. Teza Capital Management LLC purchased a new stake in Chemours during the first quarter valued at about $701,000. Finally, State of Wisconsin Investment Board lifted its stake in Chemours by 14.5% during the first quarter. State of Wisconsin Investment Board now owns 364,743 shares of the specialty chemicals company’s stock valued at $13,554,000 after buying an additional 46,229 shares in the last quarter. 80.12% of the stock is owned by institutional investors and hedge funds.

A number of analysts have commented on the stock. ValuEngine raised shares of Chemours from a “sell” rating to a “hold” rating in a research note on Wednesday, March 20th. SunTrust Banks raised shares of Chemours from a “hold” rating to a “buy” rating and upped their price objective for the company from $40.00 to $52.00 in a research note on Monday, April 15th. Zacks Investment Research raised shares of Chemours from a “sell” rating to a “hold” rating in a research note on Monday, March 18th. Susquehanna Bancshares reaffirmed a “neutral” rating and set a $37.00 price objective on shares of Chemours in a research note on Tuesday, February 19th. Finally, Citigroup reaffirmed a “buy” rating and set a $43.00 price objective on shares of Chemours in a research note on Wednesday, February 20th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $43.80.

In other Chemours news, CEO Mark P. Vergnano bought 44,000 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were bought at an average price of $23.17 per share, for a total transaction of $1,019,480.00. Following the acquisition, the chief executive officer now directly owns 116,600 shares of the company’s stock, valued at $2,701,622. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Susan M. Kelliher bought 6,500 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was acquired at an average price of $23.06 per share, for a total transaction of $149,890.00. The disclosure for this purchase can be found here. Insiders bought a total of 55,500 shares of company stock worth $1,289,670 in the last quarter. 2.34% of the stock is owned by corporate insiders.

Shares of CC traded down $0.29 during trading hours on Wednesday, reaching $23.56. The company’s stock had a trading volume of 21,600 shares, compared to its average volume of 2,087,910. The company has a market capitalization of $3.97 billion, a price-to-earnings ratio of 4.15, a P/E/G ratio of 0.35 and a beta of 2.56. Chemours Co has a 1-year low of $21.06 and a 1-year high of $51.29. The company has a debt-to-equity ratio of 5.18, a current ratio of 1.81 and a quick ratio of 1.04.

Chemours (NYSE:CC) last issued its earnings results on Thursday, May 2nd. The specialty chemicals company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.30). The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.52 billion. Chemours had a net margin of 12.60% and a return on equity of 87.75%. Chemours’s revenue for the quarter was down 20.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.41 EPS. Equities research analysts expect that Chemours Co will post 4.22 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Thursday, May 16th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.24%. Chemours’s dividend payout ratio is 17.64%.

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Chemours Company 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, Fluoroproducts, and Chemical Solutions. The Titanium Technologies segment manufactures and sells titanium dioxide under the Ti-Pure and BaiMax brands for various applications in architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride window profiles, laminate papers used for furniture and building materials, and coated papers and paperboards used for packaging.

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Institutional Ownership by Quarter for Chemours (NYSE:CC)

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