Y Intercept Hong Kong Ltd reduced its holdings in The Chemours Company (NYSE:CC – Free Report) by 72.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,592 shares of the specialty chemicals company’s stock after selling 146,771 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Chemours were worth $1,225,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Atlas Capital Advisors Inc. acquired a new position in Chemours during the fourth quarter valued at $26,000. Aster Capital Management DIFC Ltd purchased a new stake in Chemours in the fourth quarter valued at $28,000. Covestor Ltd grew its position in Chemours by 204.7% during the 4th quarter. Covestor Ltd now owns 2,602 shares of the specialty chemicals company’s stock worth $31,000 after purchasing an additional 1,748 shares during the period. Eurizon Capital SGR S.p.A. purchased a new position in shares of Chemours during the 4th quarter valued at about $31,000. Finally, Rothschild Investment LLC raised its stake in shares of Chemours by 87.0% during the 4th quarter. Rothschild Investment LLC now owns 2,698 shares of the specialty chemicals company’s stock valued at $32,000 after buying an additional 1,255 shares during the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.
Chemours Price Performance
Shares of Chemours stock traded up $0.42 on Friday, hitting $17.81. The company’s stock had a trading volume of 1,952,003 shares, compared to its average volume of 2,611,242. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of -6.75 and a beta of 1.41. 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 quick ratio of 0.87 and a current ratio of 1.82. The firm has a fifty day moving average price of $21.73 and a 200-day moving average price of $19.46.
Chemours Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Sunday, May 17th were paid a $0.0875 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.35 dividend on an annualized basis and a yield of 2.0%. Chemours’s dividend payout ratio (DPR) is currently -13.26%.
Analyst Ratings Changes
A number of analysts have recently commented on CC shares. Morgan Stanley upped their target price on Chemours from $17.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Alembic Global Advisors reiterated an “overweight” rating and set a $30.00 price target on shares of Chemours in a research report on Wednesday, May 13th. Mizuho decreased their price target on Chemours from $30.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday, July 1st. Weiss Ratings restated a “sell (d)” rating on shares of Chemours in a research report on Monday, April 20th. Finally, Royal Bank Of Canada raised their price objective on shares of Chemours from $26.00 to $29.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Six investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Chemours currently has an average rating of “Hold” and an average price target of $24.10.
Check Out Our Latest Report on CC
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.
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