Healthcare of Ontario Pension Plan Trust Fund Buys 485,670 Shares of The Chemours Company $CC

Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of The Chemours Company (NYSE:CC) by 5,551.8% during the 1st quarter, Holdings Channel reports. The institutional investor owned 494,418 shares of the specialty chemicals company’s stock after buying an additional 485,670 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Chemours were worth $10,892,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Baird Financial Group Inc. acquired a new stake in shares of Chemours in the first quarter valued at about $148,000. Royal Bank of Canada lifted its stake in shares of Chemours by 6.8% in the first quarter. Royal Bank of Canada now owns 585,702 shares of the specialty chemicals company’s stock worth $7,926,000 after acquiring an additional 37,382 shares during the period. AQR Capital Management LLC acquired a new position in shares of Chemours in the first quarter worth approximately $161,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Chemours by 149.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,243 shares of the specialty chemicals company’s stock valued at $593,000 after acquiring an additional 25,899 shares during the last quarter. Finally, Empowered Funds LLC bought a new stake in Chemours in the first quarter valued at approximately $403,000. Institutional investors own 76.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CC shares. Morgan Stanley raised their price target on shares of Chemours from $17.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Mizuho reduced their price objective on shares of Chemours from $30.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 1st. Zacks Research upgraded shares of Chemours from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 21st. UBS Group lifted their target price on shares of Chemours from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Finally, Truist Financial boosted their target price on shares of Chemours from $27.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $24.10.

Chemours Trading Up 0.4%

Shares of CC stock opened at $17.05 on Wednesday. The Chemours Company has a fifty-two week low of $10.44 and a fifty-two 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 stock has a 50 day simple moving average of $20.14 and a two-hundred day simple moving average of $19.98. The company has a market cap of $2.56 billion, a P/E ratio of -6.46 and a beta of 1.41.

Chemours (NYSE:CC) last posted its quarterly earnings results on Tuesday, May 5th. The specialty chemicals company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.10. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Chemours had a positive return on equity of 52.49% and a negative net margin of 6.82%.The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.13 EPS. Research analysts forecast that The Chemours Company will post 1.18 earnings per share for the current year.

Chemours Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Sunday, May 17th were given a dividend of $0.0875 per share. This represents a $0.35 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Friday, May 15th. Chemours’s payout ratio is presently -13.26%.

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.