Versor Investments LP Makes New $314,000 Investment in The Chemours Company $CC

Versor Investments LP bought a new position in The Chemours Company (NYSE:CC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 26,600 shares of the specialty chemicals company’s stock, valued at approximately $314,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Amalgamated Bank increased its position in Chemours by 1.7% in the third quarter. Amalgamated Bank now owns 43,528 shares of the specialty chemicals company’s stock worth $689,000 after buying an additional 740 shares during the period. PFG Investments LLC increased its position in Chemours by 7.6% in the fourth quarter. PFG Investments LLC now owns 12,494 shares of the specialty chemicals company’s stock worth $147,000 after buying an additional 883 shares during the period. State of Alaska Department of Revenue increased its holdings in shares of Chemours by 1.2% during the fourth quarter. State of Alaska Department of Revenue now owns 76,257 shares of the specialty chemicals company’s stock valued at $899,000 after purchasing an additional 932 shares during the period. Man Group plc increased its holdings in shares of Chemours by 0.4% during the second quarter. Man Group plc now owns 271,108 shares of the specialty chemicals company’s stock valued at $3,104,000 after purchasing an additional 979 shares during the period. Finally, CWM LLC increased its holdings in shares of Chemours by 32.4% during the third quarter. CWM LLC now owns 5,682 shares of the specialty chemicals company’s stock valued at $90,000 after purchasing an additional 1,392 shares during the period. 76.26% of the stock is owned by institutional investors and hedge funds.

Chemours Stock Down 6.9%

Shares of NYSE:CC opened at $23.15 on Friday. The firm has a 50 day simple moving average of $21.96 and a 200 day simple moving average of $17.04. The Chemours Company has a 52 week low of $9.13 and a 52 week 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 company has a market cap of $3.48 billion, a PE ratio of -8.77 and a beta of 1.47.

Chemours (NYSE:CC) last announced its earnings results on Tuesday, May 5th. The specialty chemicals company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.10. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.40 billion. Chemours had a negative net margin of 6.82% and a positive return on equity of 52.49%. The company’s revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.13 EPS. As a group, research analysts expect that The Chemours Company will post 1.31 earnings per share for the current year.

Chemours Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Sunday, May 17th will be issued a dividend of $0.0875 per share. The ex-dividend date is Friday, May 15th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 1.5%. Chemours’s payout ratio is currently -13.26%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Jefferies Financial Group reissued a “hold” rating and set a $17.00 price target on shares of Chemours in a report on Monday, February 23rd. Mizuho set a $30.00 price target on Chemours in a report on Wednesday, May 6th. The Goldman Sachs Group raised their price target on Chemours from $14.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, February 25th. Morgan Stanley raised their price target on Chemours from $17.00 to $21.00 and gave the company an “equal weight” rating in a report on Monday. Finally, JPMorgan Chase & Co. raised their price target on Chemours from $13.00 to $17.00 and gave the company a “neutral” rating in a report on Monday, February 23rd. Six investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $23.09.

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.