Holocene Advisors LP Raises Stock Position in The Chemours Company (NYSE:CC)

Holocene Advisors LP grew its stake in The Chemours Company (NYSE:CC - Free Report) by 1,058.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 194,465 shares of the specialty chemicals company's stock after acquiring an additional 177,673 shares during the period. Holocene Advisors LP owned 0.13% of Chemours worth $3,952,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Cinctive Capital Management LP raised its holdings in shares of Chemours by 577.1% in the third quarter. Cinctive Capital Management LP now owns 296,415 shares of the specialty chemicals company's stock worth $6,023,000 after buying an additional 252,640 shares during the last quarter. Erste Asset Management GmbH purchased a new position in shares of Chemours in the third quarter worth $728,000. ARGA Investment Management LP raised its holdings in shares of Chemours by 61.0% in the third quarter. ARGA Investment Management LP now owns 147,582 shares of the specialty chemicals company's stock worth $2,999,000 after buying an additional 55,903 shares during the last quarter. Scopia Capital Management LP purchased a new position in shares of Chemours in the third quarter worth $13,623,000. Finally, Appian Way Asset Management LP purchased a new position in shares of Chemours in the third quarter worth $34,151,000. 76.26% of the stock is currently owned by institutional investors.

Chemours Price Performance

Shares of NYSE:CC traded down $0.18 during midday trading on Thursday, hitting $21.10. The company's stock had a trading volume of 1,797,561 shares, compared to its average volume of 1,569,270. The business's 50 day simple moving average is $19.86 and its 200 day simple moving average is $21.14. The company has a debt-to-equity ratio of 6.05, a quick ratio of 0.92 and a current ratio of 1.73. The company has a market cap of $3.15 billion, a P/E ratio of 42.56 and a beta of 1.80. The Chemours Company has a 12-month low of $15.10 and a 12-month high of $32.70.

Chemours (NYSE:CC - Get Free Report) last issued its earnings results on Monday, November 4th. The specialty chemicals company reported $0.40 EPS for the quarter, topping analysts' consensus estimates of $0.32 by $0.08. Chemours had a net margin of 1.34% and a return on equity of 29.48%. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the previous year, the firm earned $0.64 earnings per share. Chemours's quarterly revenue was up .9% compared to the same quarter last year. On average, analysts forecast that The Chemours Company will post 1.35 EPS for the current year.

Chemours Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.74%. The ex-dividend date is Friday, November 15th. Chemours's dividend payout ratio is presently 200.00%.

Insider Buying and Selling at Chemours

In related news, SVP Alvenia Scarborough sold 7,500 shares of Chemours stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $20.64, for a total value of $154,800.00. Following the completion of the transaction, the senior vice president now owns 16,645 shares in the company, valued at approximately $343,552.80. The trade was a 31.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.47% of the company's stock.

Analyst Upgrades and Downgrades

CC has been the subject of a number of research analyst reports. BMO Capital Markets raised their price target on shares of Chemours from $30.00 to $32.00 and gave the stock an "outperform" rating in a report on Monday, October 7th. Morgan Stanley dropped their price target on shares of Chemours from $30.00 to $25.00 and set an "equal weight" rating on the stock in a research report on Tuesday, November 5th. Royal Bank of Canada dropped their price target on shares of Chemours from $28.00 to $25.00 and set an "outperform" rating on the stock in a research report on Wednesday, November 6th. The Goldman Sachs Group dropped their price target on shares of Chemours from $29.00 to $23.00 and set a "neutral" rating on the stock in a research report on Tuesday, September 3rd. Finally, Barclays lifted their target price on shares of Chemours from $21.00 to $23.00 and gave the company an "equal weight" rating in a research report on Tuesday, November 5th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $24.88.

About Chemours

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.