Alta Fundamental Advisers LLC Buys 75,000 Shares of The Chemours Company $CC

Alta Fundamental Advisers LLC lifted its stake in shares of The Chemours Company (NYSE:CC) by 9.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 875,000 shares of the specialty chemicals company’s stock after purchasing an additional 75,000 shares during the period. Chemours makes up about 4.7% of Alta Fundamental Advisers LLC’s holdings, making the stock its 8th biggest position. Alta Fundamental Advisers LLC’s holdings in Chemours were worth $10,316,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Dover Advisors LLC purchased a new position in shares of Chemours during the fourth quarter valued at $463,000. Goldman Sachs Group Inc. grew its holdings in shares of Chemours by 36.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,701,294 shares of the specialty chemicals company’s stock valued at $43,638,000 after buying an additional 996,012 shares in the last quarter. Monaco Asset Management SAM grew its holdings in shares of Chemours by 2,240.7% during the fourth quarter. Monaco Asset Management SAM now owns 702,200 shares of the specialty chemicals company’s stock valued at $8,279,000 after buying an additional 672,200 shares in the last quarter. Norges Bank purchased a new position in shares of Chemours during the fourth quarter valued at $627,000. Finally, Eurizon Capital SGR S.p.A. purchased a new position in shares of Chemours during the fourth quarter valued at $31,000. 76.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CC shares. Truist Financial lifted their price target on Chemours from $27.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Weiss Ratings reiterated a “sell (d)” rating on shares of Chemours in a report on Monday, April 20th. Zacks Research upgraded Chemours from a “strong sell” rating to a “hold” rating in a report on Friday, April 24th. UBS Group lifted their price target on Chemours from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, Mizuho set a $30.00 price target on Chemours in a report on Wednesday, May 6th. Six equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $24.60.

Chemours Stock Performance

Shares of NYSE CC opened at $21.69 on Friday. The business’s 50-day moving average price is $23.12 and its two-hundred day moving average price is $18.00. The company has a debt-to-equity ratio of 18.98, a current ratio of 1.82 and a quick ratio of 0.87. The Chemours Company has a one year low of $10.14 and a one year high of $28.67. The company has a market capitalization of $3.26 billion, a P/E ratio of -8.22 and a beta of 1.39.

Chemours (NYSE:CC) last issued its earnings results on Tuesday, May 5th. The specialty chemicals company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.10. Chemours had a positive return on equity of 52.49% and a negative net margin of 6.82%.The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the company posted $0.13 earnings per share. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. Analysts anticipate that The Chemours Company will post 1.27 earnings per share for the current fiscal year.

Chemours Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Sunday, May 17th will be paid a $0.0875 dividend. The ex-dividend date is Friday, May 15th. This represents a $0.35 dividend on an annualized basis and a yield of 1.6%. Chemours’s payout ratio is -13.26%.

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.