The Chemours Company $CC Shares Acquired by Bruce & Co. Inc.

Bruce & Co. Inc. boosted its holdings in The Chemours Company (NYSE:CC) by 25.0% in the second quarter, HoldingsChannel.com reports. The firm owned 250,000 shares of the specialty chemicals company’s stock after acquiring an additional 50,000 shares during the period. Chemours accounts for approximately 0.9% of Bruce & Co. Inc.’s investment portfolio, making the stock its 22nd biggest holding. Bruce & Co. Inc.’s holdings in Chemours were worth $2,862,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. MTM Investment Management LLC bought a new position in shares of Chemours in the 2nd quarter worth about $27,000. GAMMA Investing LLC raised its stake in Chemours by 130.7% during the second quarter. GAMMA Investing LLC now owns 3,175 shares of the specialty chemicals company’s stock worth $36,000 after acquiring an additional 1,799 shares during the period. Evelyn Partners Asset Management Ltd bought a new position in Chemours in the second quarter worth about $37,000. FNY Investment Advisers LLC lifted its holdings in Chemours by 100.0% in the second quarter. FNY Investment Advisers LLC now owns 4,000 shares of the specialty chemicals company’s stock worth $45,000 after acquiring an additional 2,000 shares during the last quarter. Finally, CWM LLC boosted its stake in Chemours by 34.7% in the second quarter. CWM LLC now owns 4,290 shares of the specialty chemicals company’s stock valued at $49,000 after acquiring an additional 1,104 shares during the period. 76.26% of the stock is owned by institutional investors and hedge funds.

Chemours Stock Performance

Shares of CC opened at $12.94 on Friday. The firm has a market capitalization of $1.94 billion, a PE ratio of -5.83 and a beta of 1.59. The company has a quick ratio of 0.88, a current ratio of 1.71 and a debt-to-equity ratio of 13.66. The firm has a 50-day moving average price of $12.88 and a 200 day moving average price of $13.33. The Chemours Company has a 52-week low of $9.13 and a 52-week high of $20.12.

Chemours (NYSE:CC) last issued its quarterly earnings results on Thursday, November 6th. The specialty chemicals company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.04). Chemours had a positive return on equity of 35.27% and a negative net margin of 5.70%.The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the company posted $0.40 earnings per share. The company’s revenue was down .9% on a year-over-year basis. On average, sell-side analysts anticipate that The Chemours Company will post 2.03 earnings per share for the current fiscal year.

Chemours Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 14th will be paid a dividend of $0.0875 per share. This represents a $0.35 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Friday, November 14th. Chemours’s dividend payout ratio (DPR) is presently -15.77%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CC. JPMorgan Chase & Co. dropped their price target on Chemours from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 3rd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Chemours in a research report on Wednesday, October 8th. Mizuho cut their target price on Chemours from $19.00 to $18.00 and set an “outperform” rating on the stock in a research note on Thursday, October 16th. Royal Bank Of Canada lowered their price target on shares of Chemours from $19.00 to $17.00 and set an “outperform” rating for the company in a research report on Monday, November 10th. Finally, UBS Group cut their price objective on shares of Chemours from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, November 11th. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $17.00.

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.