Moore Capital Management LP Has $10.89 Million Stock Position in The Chemours Company (NYSE:CC)

Moore Capital Management LP lowered its stake in The Chemours Company (NYSE:CC) by 38.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 644,188 shares of the specialty chemicals company’s stock after selling 406,485 shares during the period. Moore Capital Management LP’s holdings in Chemours were worth $10,887,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC increased its position in shares of Chemours by 99.7% during the fourth quarter. GAMMA Investing LLC now owns 1,532 shares of the specialty chemicals company’s stock worth $26,000 after buying an additional 765 shares during the period. Quadrant Capital Group LLC raised its position in Chemours by 100.4% in the 4th quarter. Quadrant Capital Group LLC now owns 2,234 shares of the specialty chemicals company’s stock valued at $38,000 after buying an additional 1,119 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in Chemours in the 4th quarter valued at about $48,000. Itau Unibanco Holding S.A. grew its stake in Chemours by 39.3% in the 4th quarter. Itau Unibanco Holding S.A. now owns 3,554 shares of the specialty chemicals company’s stock valued at $60,000 after purchasing an additional 1,003 shares during the period. Finally, KBC Group NV raised its position in Chemours by 38.2% in the fourth quarter. KBC Group NV now owns 6,176 shares of the specialty chemicals company’s stock worth $104,000 after acquiring an additional 1,708 shares during the period. Institutional investors own 76.26% of the company’s stock.

Chemours Trading Down 1.1%

NYSE CC opened at $11.12 on Monday. The company has a fifty day moving average of $12.55 and a 200 day moving average of $16.51. The company has a debt-to-equity ratio of 6.70, a current ratio of 1.68 and a quick ratio of 0.92. The Chemours Company has a 1 year low of $9.33 and a 1 year high of $29.21. The company has a market capitalization of $1.66 billion, a PE ratio of 19.51 and a beta of 1.76.

Chemours (NYSE:CC) last posted its quarterly earnings results on Tuesday, May 6th. The specialty chemicals company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.06). The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Chemours had a net margin of 1.51% and a return on equity of 26.54%. The business’s quarterly revenue was up .4% on a year-over-year basis. During the same period last year, the company earned $0.32 EPS. Research analysts forecast that The Chemours Company will post 2.03 earnings per share for the current year.

Chemours Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.99%. The ex-dividend date of this dividend was Friday, February 28th. Chemours’s dividend payout ratio (DPR) is 500.00%.

Analyst Upgrades and Downgrades

CC has been the subject of several analyst reports. UBS Group cut their target price on Chemours from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. BMO Capital Markets reduced their price objective on Chemours from $34.00 to $27.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Royal Bank of Canada lowered their price objective on shares of Chemours from $17.00 to $14.00 and set an “outperform” rating for the company in a research note on Thursday. Barclays reduced their price objective on shares of Chemours from $19.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 1st. Finally, Mizuho set a $15.00 price target on Chemours in a research note on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $19.11.

Chemours Profile

The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. It operates through three segments: Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure brand for delivering whiteness, brightness, opacity, durability, efficiency, and protection in various of applications, such as architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride, laminate papers used for furniture and building materials, coated paper, and coated paperboard used for packaging.