Legal & General Group Plc Makes New $28.40 Million Investment in The Chemours Company $CC

Legal & General Group Plc bought a new position in shares of The Chemours Company (NYSE:CC) in the second quarter, Holdings Channel.com reports. The fund bought 1,384,024 shares of the specialty chemicals company’s stock, valued at approximately $28,400,000.

A number of other hedge funds have also modified their holdings of the business. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Chemours in the second quarter worth about $34,000. Atlas Capital Advisors Inc. purchased a new stake in Chemours during the 4th quarter valued at about $26,000. Aster Capital Management DIFC Ltd purchased a new stake in Chemours during the 4th quarter valued at about $28,000. Allworth Financial LP acquired a new stake in Chemours in the 2nd quarter valued at about $51,000. Finally, Covestor Ltd raised its holdings in 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 acquiring an additional 1,748 shares during the last quarter. 76.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Morgan Stanley set a $18.00 target price on shares of Chemours in a research note on Monday, August 10th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $17.00 price target on shares of Chemours in a report on Thursday, August 13th. Royal Bank Of Canada reduced their price objective on Chemours from $26.00 to $22.00 and set an “outperform” rating on the stock in a research report on Thursday, August 6th. JPMorgan Chase & Co. lowered their price objective on Chemours from $22.00 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday, August 13th. Finally, Zacks Research cut Chemours from a “strong-buy” rating to a “strong sell” rating in a report on Tuesday, August 11th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $20.10.

Insider Activity

In other Chemours news, CEO Denise Dignam purchased 3,378 shares of the stock in a transaction dated Tuesday, August 11th. The stock was acquired at an average cost of $14.95 per share, for a total transaction of $50,501.10. Following the acquisition, the chief executive officer owned 339,916 shares in the company, valued at $5,081,744.20. This trade represents a 1.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Calderon Gerardo Familiar acquired 1,935 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The shares were acquired at an average cost of $15.53 per share, with a total value of $30,050.55. Following the completion of the transaction, the insider directly owned 58,547 shares in the company, valued at approximately $909,234.91. The trade was a 3.42% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 8,663 shares of company stock valued at $130,601 in the last quarter. Insiders own 0.85% of the company’s stock.

Chemours Stock Down 1.5%

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

Chemours (NYSE:CC) last released its quarterly earnings data on Tuesday, August 4th. The specialty chemicals company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.07). The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.65 billion. Chemours had a negative net margin of 5.00% and a positive return on equity of 60.64%. The company’s revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($2.54) earnings per share. On average, equities research analysts predict that The Chemours Company will post 0.87 earnings per share for the current year.

Chemours Announces Dividend

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

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.