State of Wyoming Makes New Investment in The Chemours Company (NYSE:CC)

State of Wyoming acquired a new position in shares of The Chemours Company (NYSE:CC) in the 4th quarter, Holdings Channel.com reports. The fund acquired 12,321 shares of the specialty chemicals company’s stock, valued at approximately $208,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. SIR Capital Management L.P. boosted its stake in Chemours by 18.1% during the fourth quarter. SIR Capital Management L.P. now owns 1,078,566 shares of the specialty chemicals company’s stock worth $18,228,000 after buying an additional 165,002 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Chemours during the fourth quarter worth $91,000. Point72 Asset Management L.P. boosted its stake in Chemours by 878.7% during the fourth quarter. Point72 Asset Management L.P. now owns 334,070 shares of the specialty chemicals company’s stock worth $5,646,000 after buying an additional 376,970 shares during the period. Point72 Hong Kong Ltd purchased a new position in Chemours during the fourth quarter worth $147,000. Finally, Polar Asset Management Partners Inc. purchased a new position in Chemours during the fourth quarter worth $2,392,000. 76.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the stock. UBS Group dropped their price objective on shares of Chemours from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Truist Financial lowered their target price on shares of Chemours from $27.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Mizuho set a $15.00 target price on shares of Chemours in a research note on Tuesday, April 15th. Royal Bank of Canada lowered their target price on shares of Chemours from $17.00 to $14.00 and set an “outperform” rating for the company in a research note on Thursday, May 8th. Finally, Barclays lowered their target price on shares of Chemours from $19.00 to $16.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $17.56.

Chemours Stock Performance

CC stock opened at $10.30 on Friday. The company has a debt-to-equity ratio of 6.70, a current ratio of 1.68 and a quick ratio of 0.92. The business has a 50-day moving average price of $11.97 and a 200 day moving average price of $15.98. The company has a market capitalization of $1.54 billion, a P/E ratio of 18.06 and a beta of 1.76. The Chemours Company has a 1-year low of $9.33 and a 1-year high of $26.98.

Chemours (NYSE:CC) last released its quarterly earnings data on Tuesday, May 6th. The specialty chemicals company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.06). The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Chemours had a net margin of 1.51% and a return on equity of 26.54%. The business’s revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 earnings per share. As a group, equities research analysts forecast that The Chemours Company will post 2.03 EPS for the current fiscal year.

Chemours Dividend Announcement

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

Insider Activity at Chemours

In other news, CFO Shane Hostetter bought 4,450 shares of Chemours stock in a transaction on Monday, May 19th. The stock was acquired at an average cost of $11.28 per share, for a total transaction of $50,196.00. Following the completion of the acquisition, the chief financial officer now owns 59,694 shares of the company’s stock, valued at $673,348.32. This trade represents a 8.06% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.47% of the stock is currently owned by corporate insiders.

About Chemours

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.