Wolf Hill Capital Management LP Purchases New Stake in The Chemours Company $CC

Wolf Hill Capital Management LP acquired a new position in shares of The Chemours Company (NYSE:CC) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,909,262 shares of the specialty chemicals company’s stock, valued at approximately $59,698,056,000. Chemours makes up 5.0% of Wolf Hill Capital Management LP’s portfolio, making the stock its 8th largest holding.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Algert Global LLC acquired a new position in Chemours in the second quarter worth about $4,568,000. Sanctuary Advisors LLC bought a new position in Chemours during the 2nd quarter worth approximately $323,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Chemours in the 2nd quarter worth approximately $18,119,000. Pinnacle Holdings LLC bought a new stake in shares of Chemours in the 2nd quarter valued at approximately $1,628,000. Finally, Haverford Trust Co acquired a new stake in shares of Chemours during the 2nd quarter valued at approximately $552,000. Institutional investors own 76.26% of the company’s stock.

Insider Transactions at Chemours

In other Chemours news, CEO Denise Dignam purchased 3,378 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was bought at an average price of $14.95 per share, with a total value of $50,501.10. Following the completion of the purchase, the chief executive officer owned 339,916 shares in the company, valued at $5,081,744.20. This trade represents a 1.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Calderon Gerardo Familiar acquired 1,935 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The shares were bought at an average price of $15.53 per share, for a total transaction of $30,050.55. Following the completion of the purchase, the insider owned 58,547 shares of the company’s stock, valued at approximately $909,234.91. This represents a 3.42% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders acquired 8,663 shares of company stock valued at $130,601. 0.85% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CC. Truist Financial decreased their price objective on shares of Chemours from $30.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Alembic Global Advisors reaffirmed an “overweight” rating and issued a $30.00 price target on shares of Chemours in a report on Wednesday, May 13th. Mizuho set a $22.00 price objective on shares of Chemours in a research note on Wednesday, August 5th. Weiss Ratings downgraded Chemours from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, August 6th. Finally, JPMorgan Chase & Co. lowered their target price on Chemours from $22.00 to $15.00 and set a “neutral” rating for the company in a report on Thursday, August 13th. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Chemours presently has an average rating of “Hold” and a consensus price target of $20.10.

Chemours Price Performance

NYSE CC opened at $15.40 on Tuesday. The company has a 50-day moving average price of $17.87 and a two-hundred day moving average price of $20.04. The Chemours Company has a 52 week low of $10.44 and a 52 week high of $28.67. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of -8.06 and a beta of 1.43. The company has a current ratio of 1.66, a quick ratio of 0.88 and a debt-to-equity ratio of 18.98.

Chemours (NYSE:CC) last issued its quarterly earnings data 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). Chemours had a positive return on equity of 60.64% and a negative net margin of 5.00%.The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the firm posted ($2.54) earnings per share. The business’s quarterly revenue was down 1.5% on a year-over-year basis. Analysts forecast that The Chemours Company will post 0.87 EPS for the current year.

Chemours Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be given a dividend of $0.0875 per share. This represents a $0.35 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Friday, August 14th. Chemours’s payout ratio is -18.32%.

Chemours 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.