Assenagon Asset Management S.A. Purchases Shares of 110,931 The Chemours Company (NYSE:CC)

Assenagon Asset Management S.A. acquired a new position in shares of The Chemours Company (NYSE:CC) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 110,931 shares of the specialty chemicals company’s stock, valued at approximately $2,504,000. Assenagon Asset Management S.A. owned about 0.07% of Chemours at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Spire Wealth Management increased its position in Chemours by 32.2% during the 1st quarter. Spire Wealth Management now owns 1,684 shares of the specialty chemicals company’s stock valued at $44,000 after purchasing an additional 410 shares during the period. Burney Co. raised its stake in Chemours by 0.3% during the first quarter. Burney Co. now owns 197,046 shares of the specialty chemicals company’s stock worth $5,174,000 after buying an additional 601 shares during the last quarter. Treasurer of the State of North Carolina raised its stake in Chemours by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 65,924 shares of the specialty chemicals company’s stock worth $2,079,000 after buying an additional 640 shares during the last quarter. Lavaca Capital LLC lifted its holdings in Chemours by 2.7% in the first quarter. Lavaca Capital LLC now owns 24,658 shares of the specialty chemicals company’s stock valued at $648,000 after buying an additional 641 shares during the period. Finally, Hexagon Capital Partners LLC bought a new stake in Chemours during the fourth quarter valued at $25,000. 76.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CC. UBS Group dropped their price objective on Chemours from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Barclays dropped their price target on Chemours from $30.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 6th. Mizuho assumed coverage on shares of Chemours in a research report on Friday, June 7th. They set a “neutral” rating and a $25.00 price objective for the company. BMO Capital Markets lowered their price objective on shares of Chemours from $35.00 to $30.00 and set an “outperform” rating for the company in a research note on Tuesday, August 6th. Finally, JPMorgan Chase & Co. cut their target price on shares of Chemours from $25.00 to $18.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $27.63.

Chemours Stock Performance

Shares of CC stock opened at $18.21 on Wednesday. The company has a current ratio of 1.61, a quick ratio of 0.99 and a debt-to-equity ratio of 5.26. The firm has a fifty day simple moving average of $22.28 and a two-hundred day simple moving average of $25.32. The Chemours Company has a 12 month low of $15.10 and a 12 month high of $35.15. The firm has a market capitalization of $2.71 billion, a PE ratio of -8.39 and a beta of 1.80.

Chemours (NYSE:CC) last posted its earnings results on Thursday, August 1st. The specialty chemicals company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.19). Chemours had a return on equity of 32.93% and a net margin of 2.16%. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the previous year, the firm earned $1.10 earnings per share. The company’s revenue was down 6.4% on a year-over-year basis. Analysts forecast that The Chemours Company will post 1.81 EPS for the current fiscal year.

Chemours Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 15th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 5.49%. The ex-dividend date of this dividend is Thursday, August 15th. Chemours’s dividend payout ratio (DPR) is presently -46.08%.

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.