The Chemours Company $CC Shares Acquired by Aristeia Capital L.L.C.

Aristeia Capital L.L.C. grew its stake in The Chemours Company (NYSE:CC) by 199.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 59,941 shares of the specialty chemicals company’s stock after acquiring an additional 39,957 shares during the quarter. Aristeia Capital L.L.C.’s holdings in Chemours were worth $707,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CC. Baird Financial Group Inc. acquired a new stake in shares of Chemours in the 1st quarter worth $148,000. Royal Bank of Canada grew its holdings in shares of Chemours by 6.8% during the 1st quarter. Royal Bank of Canada now owns 585,702 shares of the specialty chemicals company’s stock worth $7,926,000 after purchasing an additional 37,382 shares during the period. AQR Capital Management LLC purchased a new position in shares of Chemours during the 1st quarter worth $161,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Chemours by 149.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,243 shares of the specialty chemicals company’s stock worth $593,000 after purchasing an additional 25,899 shares during the period. Finally, Empowered Funds LLC purchased a new position in shares of Chemours during the 1st quarter worth $403,000. 76.26% of the stock is owned by institutional investors and hedge funds.

Chemours Stock Performance

Shares of Chemours stock opened at $21.99 on Thursday. The business has a 50-day moving average of $23.08 and a 200 day moving average of $18.62. The Chemours Company has a 12 month low of $10.14 and a 12 month high of $28.67. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of -8.33 and a beta of 1.39. The company has a debt-to-equity ratio of 18.98, a current ratio of 1.82 and a quick ratio of 0.87.

Chemours (NYSE:CC) last announced 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 company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period last year, the business posted $0.13 EPS. Chemours’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, sell-side analysts forecast that The Chemours Company will post 1.07 earnings per share for the current year.

Chemours Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Sunday, May 17th were paid a $0.0875 dividend. This represents a $0.35 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Friday, May 15th. Chemours’s dividend payout ratio (DPR) is presently -13.26%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CC. BMO Capital Markets lowered their price target on Chemours from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Monday, February 23rd. Alembic Global Advisors reiterated an “overweight” rating and set a $30.00 price target on shares of Chemours in a report on Wednesday, May 13th. Weiss Ratings reiterated a “sell (d)” rating on shares of Chemours in a report on Monday, April 20th. Jefferies Financial Group reiterated a “hold” rating and set a $17.00 price target on shares of Chemours in a report on Monday, February 23rd. Finally, Zacks Research upgraded Chemours from a “strong sell” rating to a “hold” rating in a report on Friday, April 24th. Six analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $24.60.

Chemours 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.