Dover Advisors LLC Purchases Shares of 39,291 The Chemours Company $CC

Dover Advisors LLC purchased a new stake in The Chemours Company (NYSE:CC) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 39,291 shares of the specialty chemicals company’s stock, valued at approximately $463,000.

Other hedge funds also recently made changes to their positions in the company. WINTON GROUP Ltd boosted its holdings in shares of Chemours by 103.5% in the 3rd quarter. WINTON GROUP Ltd now owns 114,100 shares of the specialty chemicals company’s stock valued at $1,807,000 after purchasing an additional 58,039 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Chemours by 478.4% in the 4th quarter. SG Americas Securities LLC now owns 236,236 shares of the specialty chemicals company’s stock valued at $2,785,000 after purchasing an additional 195,393 shares during the last quarter. Hudson Bay Capital Management LP acquired a new position in shares of Chemours in the 3rd quarter valued at $1,925,000. Wolf Hill Capital Management LP acquired a new position in shares of Chemours in the 3rd quarter valued at $17,025,000. Finally, American Century Companies Inc. boosted its holdings in shares of Chemours by 26.0% in the 3rd quarter. American Century Companies Inc. now owns 2,378,591 shares of the specialty chemicals company’s stock valued at $37,677,000 after purchasing an additional 490,988 shares during the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CC shares. The Goldman Sachs Group lifted their price target on shares of Chemours from $14.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, February 25th. Alembic Global Advisors reissued an “overweight” rating and issued a $30.00 target price on shares of Chemours in a research note on Wednesday, May 13th. Royal Bank Of Canada raised their target price on shares of Chemours from $26.00 to $29.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Jefferies Financial Group reissued a “hold” rating and issued a $17.00 target price on shares of Chemours in a research note on Monday, February 23rd. Finally, Morgan Stanley raised their target price on shares of Chemours from $17.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. Six equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $24.60.

Chemours Stock Performance

Shares of CC stock opened at $23.16 on Wednesday. The company’s fifty day simple moving average is $22.90 and its 200-day simple moving average is $17.79. The Chemours Company has a 52 week low of $9.20 and a 52 week high of $28.67. The company has a current ratio of 1.82, a quick ratio of 0.87 and a debt-to-equity ratio of 18.98. The company has a market cap of $3.48 billion, a PE ratio of -8.77 and a beta of 1.39.

Chemours (NYSE:CC) last released its quarterly earnings results on Tuesday, May 5th. The specialty chemicals company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.10. Chemours had a negative net margin of 6.82% and a positive return on equity of 52.49%. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the firm posted $0.13 EPS. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. As a group, equities research analysts anticipate that The Chemours Company will post 1.27 EPS for the current year.

Chemours Announces Dividend

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

About Chemours

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.