FNY Investment Advisers LLC Acquires Shares of 2,000 The Chemours Company (NYSE:CC)

FNY Investment Advisers LLC acquired a new stake in The Chemours Company (NYSE:CC) during the first quarter, Holdings Channel reports. The fund acquired 2,000 shares of the specialty chemicals company’s stock, valued at approximately $27,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CC. UMB Bank n.a. lifted its holdings in Chemours by 73.9% in the 1st quarter. UMB Bank n.a. now owns 2,231 shares of the specialty chemicals company’s stock valued at $30,000 after purchasing an additional 948 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in Chemours by 170.7% in the 1st quarter. Farther Finance Advisors LLC now owns 2,290 shares of the specialty chemicals company’s stock valued at $30,000 after purchasing an additional 1,444 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in Chemours by 100.4% in the 4th quarter. Quadrant Capital Group LLC now owns 2,234 shares of the specialty chemicals company’s stock valued at $38,000 after purchasing an additional 1,119 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Chemours in the 4th quarter valued at $48,000. Finally, Itau Unibanco Holding S.A. lifted its holdings in Chemours by 39.3% in the 4th quarter. Itau Unibanco Holding S.A. now owns 3,554 shares of the specialty chemicals company’s stock valued at $60,000 after purchasing an additional 1,003 shares in the last quarter. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Analyst Ratings Changes

CC has been the topic of a number of research reports. The Goldman Sachs Group decreased their price objective on Chemours from $21.00 to $14.00 and set a “neutral” rating on the stock in a report on Wednesday, May 14th. Barclays cut their target price on Chemours from $16.00 to $13.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 28th. Morgan Stanley cut their target price on Chemours from $22.00 to $15.00 and set an “equal weight” rating for the company in a research note on Monday, May 12th. Wall Street Zen downgraded Chemours from a “hold” rating to a “sell” rating in a research note on Wednesday, May 21st. Finally, UBS Group cut their target price on Chemours from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $17.22.

Chemours Stock Down 1.5%

Shares of NYSE:CC opened at $10.78 on Wednesday. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of 53.88 and a beta of 1.64. The Chemours Company has a 12-month low of $9.13 and a 12-month high of $25.54. The business has a 50-day moving average price of $11.25 and a 200 day moving average price of $14.84. The company has a current ratio of 1.75, a quick ratio of 0.83 and a debt-to-equity ratio of 7.01.

Chemours (NYSE:CC) last issued its quarterly earnings data on Tuesday, May 6th. The specialty chemicals company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.06). The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Chemours had a net margin of 0.54% and a return on equity of 23.82%. The firm’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter last year, the firm posted $0.32 earnings per share. Sell-side analysts expect that The Chemours Company will post 2.03 EPS for the current year.

Chemours Dividend Announcement

The business also recently disclosed a dividend, which was paid on Monday, June 16th. Investors of record on Monday, May 19th were issued a $0.0875 dividend. The ex-dividend date was Friday, May 16th. This represents a yield of 3.17%. Chemours’s dividend payout ratio (DPR) is currently 175.00%.

Insider Activity at Chemours

In other news, CFO Shane Hostetter bought 4,450 shares of the company’s stock in a transaction on Monday, May 19th. The stock was bought at an average cost of $11.28 per share, with a total value of $50,196.00. Following the transaction, the chief financial officer now directly owns 59,694 shares in the company, valued at $673,348.32. The trade was a 8.06% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Damian Gumpel bought 13,400 shares of the company’s stock in a transaction on Monday, June 2nd. The stock was purchased at an average cost of $9.22 per share, with a total value of $123,548.00. Following the completion of the transaction, the insider now owns 123,879 shares in the company, valued at $1,142,164.38. This represents a 12.13% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 25,672 shares of company stock worth $251,573. Company insiders own 0.34% of the company’s stock.

Chemours Profile

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.