Jupiter Topco LLC Invests $1.44 Million in The Chemours Company $CC

Jupiter Topco LLC acquired a new stake in The Chemours Company (NYSE:CC) in the 2nd quarter, Holdings Channel reports. The firm acquired 70,089 shares of the specialty chemicals company’s stock, valued at approximately $1,438,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hsbc Holdings PLC bought a new position in Chemours in the second quarter worth approximately $4,680,000. Legal & General Group Plc acquired a new stake in shares of Chemours in the 2nd quarter worth about $28,400,000. The Manufacturers Life Insurance Company bought a new position in Chemours in the 2nd quarter valued at about $1,522,000. Thomist Capital Management LP acquired a new position in Chemours during the 2nd quarter valued at about $2,932,000. Finally, Wolf Hill Capital Management LP acquired a new position in Chemours during the 2nd quarter valued at about $59,698,056. 76.26% of the stock is owned by institutional investors.

Insider Buying and Selling at Chemours

In other news, CFO Shane Hostetter acquired 3,350 shares of Chemours stock in a transaction on Thursday, August 6th. The stock was acquired at an average cost of $14.94 per share, with a total value of $50,049.00. Following the completion of the acquisition, the chief financial officer owned 102,698 shares in the company, valued at approximately $1,534,308.12. This trade represents a 3.37% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Denise Dignam acquired 3,378 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was purchased at an average cost of $14.95 per share, with a total value of $50,501.10. Following the acquisition, the chief executive officer owned 339,916 shares in the company, valued at $5,081,744.20. The trade was a 1.00% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 8,663 shares of company stock worth $130,601 over the last three months. 0.85% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently commented on CC. BMO Capital Markets lowered their price objective on Chemours from $26.00 to $18.00 and set an “outperform” rating for the company in a research note on Thursday, August 13th. Morgan Stanley set a $18.00 target price on Chemours in a research report on Monday, August 10th. Truist Financial decreased their price target on 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 reissued an “overweight” rating and issued a $30.00 price target on shares of Chemours in a research report on Wednesday, May 13th. Finally, Mizuho set a $22.00 target price on shares of Chemours in a report on Wednesday, August 5th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.10.

Chemours Trading Down 1.3%

Shares of Chemours stock opened at $15.28 on Friday. The firm has a market cap of $2.30 billion, a PE ratio of -8.00 and a beta of 1.42. The Chemours Company has a 1 year low of $10.44 and a 1 year high of $28.67. 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 stock has a fifty day moving average price of $16.85 and a 200-day moving average price of $19.81.

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

Chemours Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be paid a $0.0875 dividend. 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 presently -18.32%.

Chemours Company 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.