Y Intercept Hong Kong Ltd Takes Position in The Chemours Company $CC

Y Intercept Hong Kong Ltd acquired a new position in shares of The Chemours Company (NYSE:CC) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 134,096 shares of the specialty chemicals company’s stock, valued at approximately $2,124,000. Y Intercept Hong Kong Ltd owned approximately 0.09% of Chemours as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CC. Entropy Technologies LP lifted its position in Chemours by 478.3% during the 2nd quarter. Entropy Technologies LP now owns 62,075 shares of the specialty chemicals company’s stock worth $711,000 after acquiring an additional 51,341 shares during the period. Vision One Management Partners LP lifted its holdings in shares of Chemours by 10.4% during the second quarter. Vision One Management Partners LP now owns 1,720,189 shares of the specialty chemicals company’s stock worth $19,696,000 after purchasing an additional 161,691 shares during the period. Bryce Point Capital LLC purchased a new stake in Chemours in the second quarter valued at approximately $955,000. Geode Capital Management LLC increased its holdings in Chemours by 41.4% in the 2nd quarter. Geode Capital Management LLC now owns 3,484,416 shares of the specialty chemicals company’s stock worth $39,901,000 after buying an additional 1,020,933 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Chemours by 8.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,054,620 shares of the specialty chemicals company’s stock worth $12,075,000 after buying an additional 85,529 shares during the last quarter. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Chemours Trading Down 3.3%

CC stock opened at $15.11 on Thursday. The company’s 50-day simple moving average is $13.15 and its 200-day simple moving average is $13.82. The company has a quick ratio of 0.88, a current ratio of 1.71 and a debt-to-equity ratio of 13.66. The Chemours Company has a 52-week low of $9.13 and a 52-week high of $19.43. The firm has a market cap of $2.26 billion, a P/E ratio of -6.81 and a beta of 1.61.

Chemours (NYSE:CC) last released its quarterly earnings results on Thursday, November 6th. The specialty chemicals company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.04). Chemours had a positive return on equity of 35.27% and a negative net margin of 5.70%.The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the company posted $0.40 EPS. The business’s revenue for the quarter was down .9% compared to the same quarter last year. As a group, equities analysts forecast that The Chemours Company will post 2.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CC shares. UBS Group dropped their price objective on shares of Chemours from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $20.00 price target on shares of Chemours in a report on Monday, January 19th. JPMorgan Chase & Co. reduced their price objective on Chemours from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, December 3rd. Mizuho decreased their price objective on Chemours from $19.00 to $18.00 and set an “outperform” rating for the company in a report on Thursday, October 16th. Finally, Zacks Research lowered Chemours from a “hold” rating to a “strong sell” rating in a report on Friday, October 17th. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Chemours presently has an average rating of “Hold” and an average price target of $16.67.

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.