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

Wolf Hill Capital Management LP acquired a new position in The Chemours Company (NYSE:CC) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,074,837 shares of the specialty chemicals company’s stock, valued at approximately $17,025,000. Chemours accounts for approximately 1.6% of Wolf Hill Capital Management LP’s investment portfolio, making the stock its 21st biggest position. Wolf Hill Capital Management LP owned approximately 0.72% of Chemours as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CC. MTM Investment Management LLC bought a new position in shares of Chemours in the 2nd quarter valued at about $27,000. Evelyn Partners Asset Management Ltd bought a new stake in shares of Chemours during the second quarter worth approximately $37,000. Hantz Financial Services Inc. raised its stake in shares of Chemours by 334.2% during the third quarter. Hantz Financial Services Inc. now owns 4,329 shares of the specialty chemicals company’s stock worth $69,000 after buying an additional 3,332 shares during the last quarter. Itau Unibanco Holding S.A. lifted its holdings in Chemours by 102.3% in 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 buying an additional 3,615 shares during the period. Finally, CWM LLC boosted its stake in Chemours by 32.4% in the third quarter. CWM LLC now owns 5,682 shares of the specialty chemicals company’s stock valued at $90,000 after acquiring an additional 1,392 shares during the last quarter. 76.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on CC shares. JPMorgan Chase & Co. lifted their target price on shares of Chemours from $13.00 to $17.00 and gave the stock a “neutral” rating in a report on Monday, February 23rd. Truist Financial raised their price target on Chemours from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, January 21st. Jefferies Financial Group reaffirmed a “hold” rating and set a $17.00 price objective on shares of Chemours in a research note on Monday, February 23rd. Morgan Stanley upped their price objective on Chemours from $15.00 to $17.00 and gave the company an “equal weight” rating in a report on Monday, February 23rd. Finally, Mizuho increased their target price on Chemours from $17.00 to $21.00 and gave the company an “outperform” rating in a research note on Thursday, March 5th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $18.40.

Chemours Trading Down 0.1%

NYSE:CC traded down $0.02 on Friday, reaching $17.68. The company’s stock had a trading volume of 845,321 shares, compared to its average volume of 3,480,891. The Chemours Company has a 1-year low of $9.13 and a 1-year high of $21.85. The business’s 50-day moving average price is $16.84 and its two-hundred day moving average price is $14.82. The firm has a market cap of $2.65 billion, a PE ratio of -7.14 and a beta of 1.60. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.85 and a current ratio of 1.78.

Chemours (NYSE:CC) last released its quarterly earnings data on Thursday, February 19th. The specialty chemicals company reported $0.05 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the previous year, the business posted $0.09 EPS. Chemours’s revenue for the quarter was down 2.2% on a year-over-year basis. Equities research analysts anticipate that The Chemours Company will post 2.03 earnings per share for the current fiscal year.

Chemours Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be given a dividend of $0.0875 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $0.35 annualized dividend and a dividend yield of 2.0%. Chemours’s dividend payout ratio is currently -14.11%.

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.