Aristeia Capital L.L.C. Increases Stake in The Chemours Company $CC

Aristeia Capital L.L.C. grew its stake in The Chemours Company (NYSE:CC) by 199.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 59,941 shares of the specialty chemicals company’s stock after buying an additional 39,957 shares during the quarter. Aristeia Capital L.L.C.’s holdings in Chemours were worth $707,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Atlas Capital Advisors Inc. purchased a new position in shares of Chemours in the 4th quarter valued at about $26,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Chemours in the 4th quarter valued at about $28,000. Covestor Ltd boosted its stake in shares of Chemours by 204.7% in the 4th quarter. Covestor Ltd now owns 2,602 shares of the specialty chemicals company’s stock valued at $31,000 after buying an additional 1,748 shares during the period. Eurizon Capital SGR S.p.A. purchased a new position in shares of Chemours in the 4th quarter valued at about $31,000. Finally, Rothschild Investment LLC boosted its stake in shares of Chemours by 87.0% in the 4th quarter. Rothschild Investment LLC now owns 2,698 shares of the specialty chemicals company’s stock valued at $32,000 after buying an additional 1,255 shares during the period. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CC shares. Alembic Global Advisors reissued an “overweight” rating and set a $30.00 target price on shares of Chemours in a research report on Wednesday, May 13th. UBS Group raised their target price on Chemours from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Truist Financial raised their target price on Chemours from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Mizuho set a $30.00 target price on Chemours in a research report on Wednesday, May 6th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $17.00 target price on shares of Chemours in a research report on Monday, February 23rd. Six research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $24.60.

Chemours Trading Up 1.5%

CC opened at $21.99 on Thursday. The firm has a market cap of $3.31 billion, a price-to-earnings ratio of -8.33 and a beta of 1.39. The Chemours Company has a 52 week low of $10.14 and a 52 week high of $28.67. The business’s 50 day moving average is $23.08 and its two-hundred day moving average is $18.62. The company has a quick ratio of 0.87, a current ratio of 1.82 and a debt-to-equity ratio of 18.98.

Chemours (NYSE:CC) last released its quarterly earnings results on Tuesday, May 5th. The specialty chemicals company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.10. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.40 billion. Chemours had a positive return on equity of 52.49% and a negative net margin of 6.82%.The firm’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 earnings per share. On average, research analysts predict that The Chemours Company will post 1.07 EPS for the current year.

Chemours Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Sunday, May 17th were issued a $0.0875 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 1.6%. Chemours’s payout ratio is presently -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.