Hsbc Holdings PLC Makes New $4.68 Million Investment in The Chemours Company $CC

Hsbc Holdings PLC bought a new stake in shares of The Chemours Company (NYSE:CC) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 230,056 shares of the specialty chemicals company’s stock, valued at approximately $4,680,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of Chemours during the 2nd quarter worth about $477,769,000. Cooper Creek Partners Management LLC bought a new position in shares of Chemours in the 3rd quarter valued at approximately $63,103,000. Wolf Hill Capital Management LP bought a new position in shares of Chemours in the 2nd quarter valued at approximately $59,698,056. Bank of New York Mellon Corp acquired a new stake in Chemours in the 2nd quarter worth approximately $33,353,000. Finally, Scopia Capital Management LP lifted its holdings in Chemours by 71.7% in the 2nd quarter. Scopia Capital Management LP now owns 3,355,261 shares of the specialty chemicals company’s stock worth $38,418,000 after purchasing an additional 1,401,539 shares during the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.

Insider Activity

In related news, insider Calderon Gerardo Familiar acquired 1,935 shares of the business’s stock in a transaction dated Wednesday, August 12th. The stock was acquired at an average price of $15.53 per share, with a total value of $30,050.55. Following the completion of the transaction, the insider owned 58,547 shares of the company’s stock, valued at approximately $909,234.91. This represents a 3.42% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Shane Hostetter bought 3,350 shares of Chemours stock in a transaction that occurred on Thursday, August 6th. The stock was bought at an average price of $14.94 per share, with a total value of $50,049.00. Following the purchase, the chief financial officer owned 102,698 shares of the company’s stock, valued at $1,534,308.12. This trade represents a 3.37% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders purchased 8,663 shares of company stock valued at $130,601. Insiders own 0.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on CC. UBS Group reiterated a “neutral” rating and set a $18.00 price target (down from $29.00) on shares of Chemours in a report on Monday, August 10th. Weiss Ratings cut shares of Chemours from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, August 6th. Mizuho set a $22.00 price objective on shares of Chemours in a report on Wednesday, August 5th. Morgan Stanley set a $18.00 target price on shares of Chemours in a research note on Monday, August 10th. Finally, Truist Financial dropped their target price on shares of Chemours from $30.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $20.10.

Chemours Stock Down 1.5%

CC opened at $15.64 on Friday. The business has a 50 day moving average of $17.39 and a 200-day moving average of $19.97. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of -8.19 and a beta of 1.43. The company has a current ratio of 1.66, a quick ratio of 0.88 and a debt-to-equity ratio of 18.98. The Chemours Company has a 1-year low of $10.44 and a 1-year high of $28.67.

Chemours (NYSE:CC) last announced its earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.07). The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.65 billion. Chemours had a positive return on equity of 60.64% and a negative net margin of 5.00%.The company’s revenue was down 1.5% compared to the same quarter last year. During the same period last year, the firm posted ($2.54) EPS. As a group, sell-side analysts anticipate that The Chemours Company will post 0.87 earnings per share for the current year.

Chemours Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be issued a dividend of $0.0875 per share. The ex-dividend date is Friday, August 14th. This represents a $0.35 annualized dividend and a dividend yield of 2.2%. Chemours’s payout ratio is presently -18.32%.

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.