Cinctive Capital Management LP Lowers Position in The Chemours Company $CC

Cinctive Capital Management LP decreased its stake in shares of The Chemours Company (NYSE:CC) by 77.6% in the third quarter, Holdings Channel.com reports. The fund owned 74,457 shares of the specialty chemicals company’s stock after selling 258,396 shares during the period. Cinctive Capital Management LP’s holdings in Chemours were worth $1,179,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CC. MTM Investment Management LLC bought a new stake in Chemours in the 2nd quarter valued at $27,000. Evelyn Partners Asset Management Ltd purchased a new stake in Chemours in the 2nd quarter worth $37,000. Hantz Financial Services Inc. boosted its holdings in shares of Chemours by 334.2% during the 3rd quarter. Hantz Financial Services Inc. now owns 4,329 shares of the specialty chemicals company’s stock valued at $69,000 after purchasing an additional 3,332 shares during the last quarter. CWM LLC boosted its holdings in shares of Chemours by 32.4% during the 3rd quarter. CWM LLC now owns 5,682 shares of the specialty chemicals company’s stock valued at $90,000 after purchasing an additional 1,392 shares during the last quarter. Finally, Itau Unibanco Holding S.A. grew its position in shares of Chemours by 102.3% during the second quarter. Itau Unibanco Holding S.A. now owns 7,149 shares of the specialty chemicals company’s stock valued at $82,000 after purchasing an additional 3,615 shares in the last quarter. 76.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CC shares. JPMorgan Chase & Co. lifted their target price on Chemours from $13.00 to $17.00 and gave the stock a “neutral” rating in a report on Monday, February 23rd. BMO Capital Markets cut their price target on Chemours from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Monday, February 23rd. UBS Group lifted their price objective on Chemours from $18.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, February 23rd. Mizuho upped their price objective on Chemours from $17.00 to $21.00 and gave the stock an “outperform” rating in a report on Thursday, March 5th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $18.00 target price on shares of Chemours in a research report on Friday, January 16th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $18.40.

Chemours Stock Up 0.4%

Shares of NYSE CC opened at $17.65 on Tuesday. The firm’s 50-day moving average price is $17.05 and its 200-day moving average price is $14.85. The company has a current ratio of 1.78, a quick ratio of 0.85 and a debt-to-equity ratio of 16.33. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of -7.11 and a beta of 1.60. The Chemours Company has a 12-month low of $9.13 and a 12-month high of $21.85.

Chemours (NYSE:CC) last announced its earnings results on Thursday, February 19th. The specialty chemicals company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. Chemours had a positive return on equity of 41.75% and a negative net margin of 6.41%.The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the previous year, the business earned $0.09 EPS. The company’s quarterly revenue was down 2.2% on a year-over-year basis. On average, equities research analysts anticipate that The Chemours Company will post 2.03 EPS for the current fiscal year.

Chemours Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were paid a $0.0875 dividend. This represents a $0.35 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Friday, February 27th. Chemours’s dividend payout ratio (DPR) is currently -14.11%.

About Chemours

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.