BNP Paribas Arbitrage SNC Increases Position in The Chemours Company (NYSE:CC)

BNP Paribas Arbitrage SNC boosted its holdings in The Chemours Company (NYSE:CC) by 1,905.1% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 165,538 shares of the specialty chemicals company’s stock after buying an additional 157,282 shares during the period. BNP Paribas Arbitrage SNC owned 0.11% of Chemours worth $6,107,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of CC. EverSource Wealth Advisors LLC grew its position in shares of Chemours by 5,257.1% during the second quarter. EverSource Wealth Advisors LLC now owns 750 shares of the specialty chemicals company’s stock valued at $28,000 after purchasing an additional 736 shares in the last quarter. Ameritas Advisory Services LLC purchased a new stake in Chemours in the first quarter worth about $29,000. Operose Advisors LLC purchased a new stake in Chemours during the first quarter worth $33,000. Spire Wealth Management lifted its position in shares of Chemours by 67.0% during the first quarter. Spire Wealth Management now owns 1,944 shares of the specialty chemicals company’s stock valued at $58,000 after buying an additional 780 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC raised its stake in Chemours by 117.2% in the first quarter. Steward Partners Investment Advisory LLC now owns 2,098 shares of the specialty chemicals company’s stock valued at $63,000 after buying an additional 1,132 shares during the last quarter. Hedge funds and other institutional investors own 76.46% of the company’s stock.

Chemours Price Performance

CC stock opened at $27.03 on Tuesday. The company has a current ratio of 1.68, a quick ratio of 1.08 and a debt-to-equity ratio of 5.21. The company has a market capitalization of $4.01 billion, a P/E ratio of -13.06 and a beta of 2.01. The business has a 50 day simple moving average of $26.84 and a 200-day simple moving average of $31.26. The Chemours Company has a twelve month low of $22.88 and a twelve month high of $39.05.

Chemours (NYSE:CC) last issued its quarterly earnings data on Thursday, October 26th. The specialty chemicals company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.13). Chemours had a positive return on equity of 42.13% and a negative net margin of 5.13%. The business had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.54 billion. As a group, equities analysts anticipate that The Chemours Company will post 2.88 EPS for the current year.

Chemours Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend is Tuesday, November 14th. Chemours’s dividend payout ratio is presently -48.31%.

Analysts Set New Price Targets

CC has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their target price on shares of Chemours from $38.00 to $26.00 and set a “neutral” rating for the company in a research report on Tuesday, November 7th. TheStreet cut Chemours from a “b” rating to a “c+” rating in a report on Friday, July 28th. Barclays lowered their price objective on Chemours from $31.00 to $28.00 and set an “equal weight” rating for the company in a research report on Monday, October 30th. The Goldman Sachs Group lowered their price target on Chemours from $35.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, October 31st. Finally, Royal Bank of Canada decreased their target price on Chemours from $30.00 to $28.00 and set a “sector perform” rating for the company in a report on Monday, October 30th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $31.90.

Chemours Company Profile

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.