Edgestream Partners L.P. Acquires 270,836 Shares of The Chemours Company $CC

Edgestream Partners L.P. boosted its holdings in The Chemours Company (NYSE:CC – Free Report) by 1,126.4% during the 1st quarter, Holdings Channel reports. The firm owned 294,881 shares of the specialty chemicals company’s stock after acquiring an additional 270,836 shares during the period. Edgestream Partners L.P.’s holdings in Chemours were worth $6,496,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in CC. Cooper Creek Partners Management LLC bought a new stake in shares of Chemours during the 3rd quarter worth $63,103,000. Scopia Capital Management LP grew its position in Chemours by 71.7% during the second quarter. Scopia Capital Management LP now owns 3,355,261 shares of the specialty chemicals company’s stock valued at $38,418,000 after buying an additional 1,401,539 shares during the period. State Street Corp increased its holdings in Chemours by 22.7% during the second quarter. State Street Corp now owns 6,114,328 shares of the specialty chemicals company’s stock worth $70,009,000 after buying an additional 1,131,682 shares during the last quarter. Sona Asset Management US LLC increased its holdings in Chemours by 176.9% during the fourth quarter. Sona Asset Management US LLC now owns 1,651,275 shares of the specialty chemicals company’s stock worth $19,469,000 after buying an additional 1,055,000 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Chemours by 36.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,701,294 shares of the specialty chemicals company’s stock worth $43,638,000 after acquiring an additional 996,012 shares during the period. 76.26% of the stock is owned by hedge funds and other institutional investors.

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Chemours Stock Up 3.6%

CC stock opened at $17.09 on Friday. The stock has a 50-day simple moving average of $19.93 and a two-hundred day simple moving average of $20.01. The company has a quick ratio of 0.87, a current ratio of 1.82 and a debt-to-equity ratio of 18.98. The firm has a market capitalization of $2.57 billion, a PE ratio of -6.47 and a beta of 1.41. The Chemours Company has a twelve month low of $10.44 and a twelve month high of $28.67.

Chemours (NYSE:CC – Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The specialty chemicals company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.10. Chemours had a negative net margin of 6.82% and a positive return on equity of 52.49%. The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period last year, the firm earned $0.13 EPS. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, equities analysts predict that The Chemours Company will post 1.18 EPS for the current fiscal year.

Chemours Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Sunday, May 17th were given a dividend of $0.0875 per share. The ex-dividend date was Friday, May 15th. This represents a $0.35 annualized dividend and a yield of 2.0%. Chemours’s payout ratio is presently -13.26%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CC. Mizuho dropped their target price on shares of Chemours from $30.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 1st. Zacks Research upgraded shares of Chemours from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st. Royal Bank Of Canada lifted their price target on shares of Chemours from $26.00 to $29.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. JPMorgan Chase & Co. upped their price objective on Chemours from $17.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, May 21st. Finally, Truist Financial increased their price objective on Chemours from $27.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $24.10.

Get Our Latest Stock Analysis on Chemours

Chemours Profile

(Free Report)

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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