142,900 Shares in The Chemours Company $CC Bought by Thomist Capital Management LP

Thomist Capital Management LP bought a new stake in The Chemours Company (NYSE:CC) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 142,900 shares of the specialty chemicals company’s stock, valued at approximately $2,932,000. Chemours comprises about 0.9% of Thomist Capital Management LP’s portfolio, making the stock its 27th biggest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Chemours in the 2nd quarter valued at about $477,769,000. Cooper Creek Partners Management LLC acquired a new position in Chemours during the third quarter valued at approximately $63,103,000. Wolf Hill Capital Management LP purchased a new stake in Chemours during the second quarter worth approximately $59,698,056,000. Bank of New York Mellon Corp purchased a new stake in Chemours during the second quarter worth approximately $33,353,000. Finally, Scopia Capital Management LP increased its position in shares of Chemours by 71.7% in the second quarter. Scopia Capital Management LP now owns 3,355,261 shares of the specialty chemicals company’s stock worth $38,418,000 after acquiring an additional 1,401,539 shares in the last quarter. 76.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CC shares. BMO Capital Markets decreased their price target on shares of Chemours from $26.00 to $18.00 and set an “outperform” rating for the company in a research report on Thursday, August 13th. The Goldman Sachs Group reissued a “neutral” rating and issued a $17.00 price objective on shares of Chemours in a research report on Thursday, August 13th. Morgan Stanley set a $18.00 price objective on Chemours in a research note on Monday, August 10th. Royal Bank Of Canada decreased their target price on Chemours from $26.00 to $22.00 and set an “outperform” rating for the company in a research report 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 research note on Thursday, August 13th. 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $20.10.

Chemours Stock Down 3.6%

Shares of Chemours stock opened at $15.40 on Tuesday. The Chemours Company has a 1-year low of $10.44 and a 1-year high of $28.67. The company has a market capitalization of $2.32 billion, a PE ratio of -8.06 and a beta of 1.43. The company has a debt-to-equity ratio of 18.98, a current ratio of 1.66 and a quick ratio of 0.88. The business has a 50-day moving average of $17.87 and a 200-day moving average of $20.04.

Chemours (NYSE:CC) last released its quarterly earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.07). The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.65 billion. Chemours had a positive return on equity of 60.64% and a negative net margin of 5.00%.The company’s revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($2.54) EPS. As a group, equities analysts forecast that The Chemours Company will post 0.87 EPS for the current fiscal year.

Chemours Announces Dividend

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

Insider Buying and Selling at Chemours

In other Chemours news, insider Calderon Gerardo Familiar bought 1,935 shares of Chemours stock in a transaction dated Wednesday, August 12th. The stock was bought at an average cost of $15.53 per share, for a total transaction of $30,050.55. Following the purchase, the insider owned 58,547 shares in the company, valued at $909,234.91. This represents a 3.42% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Denise Dignam purchased 3,378 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were bought at an average cost of $14.95 per share, with a total value of $50,501.10. Following the transaction, the chief executive officer directly owned 339,916 shares of the company’s stock, valued at approximately $5,081,744.20. This represents a 1.00% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 8,663 shares of company stock valued at $130,601 in the last three months. Corporate insiders own 0.85% of the company’s stock.

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.