Brasada Capital Management LP Acquires New Holdings in The Chemours Company $CC

Brasada Capital Management LP acquired a new position in The Chemours Company (NYSE:CC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 183,367 shares of the specialty chemicals company’s stock, valued at approximately $3,763,000. Brasada Capital Management LP owned approximately 0.12% of Chemours as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CC. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Chemours in the 2nd quarter valued at $34,000. Atlas Capital Advisors Inc. bought a new position in shares of Chemours in the 4th quarter worth $26,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Chemours during the 4th quarter worth $28,000. Allworth Financial LP bought a new stake in Chemours during the second quarter valued at about $51,000. Finally, Covestor Ltd boosted its position in Chemours by 204.7% during 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. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Insider Activity

In other news, CFO Shane Hostetter bought 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 directly owned 102,698 shares of the company’s stock, valued at $1,534,308.12. This trade represents a 3.37% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Calderon Gerardo Familiar bought 1,935 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The shares were purchased at an average cost of $15.53 per share, with a total value of $30,050.55. Following the acquisition, the insider directly owned 58,547 shares of the company’s stock, valued at approximately $909,234.91. This trade represents a 3.42% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have bought 8,663 shares of company stock valued at $130,601. Company insiders own 0.85% of the company’s stock.

Chemours Trading Up 0.5%

NYSE:CC opened at $15.85 on Friday. The Chemours Company has a 12 month low of $10.44 and a 12 month high of $28.67. The firm has a fifty day simple moving average of $17.52 and a 200-day simple moving average of $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. The company has a market capitalization of $2.39 billion, a P/E ratio of -8.30 and a beta of 1.43.

Chemours (NYSE:CC) last released its earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.07). The firm had revenue of $1.59 billion during 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% on a year-over-year basis. During the same period in the previous year, the company earned ($2.54) earnings per share. On average, equities research analysts anticipate that The Chemours Company will post 0.87 earnings per share for the current year.

Chemours Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.0875 per share. This represents a $0.35 annualized dividend and a yield of 2.2%. The ex-dividend date is Friday, August 14th. Chemours’s payout ratio is presently -18.32%.

Analyst Upgrades and Downgrades

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

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.