ProShare Advisors LLC Makes New Investment in The Chemours Company (NYSE:CC)

ProShare Advisors LLC bought a new stake in The Chemours Company (NYSE:CC) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 10,602 shares of the specialty chemicals company’s stock, valued at approximately $179,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Corient Private Wealth LLC lifted its holdings in shares of Chemours by 4.7% in the 4th quarter. Corient Private Wealth LLC now owns 13,428 shares of the specialty chemicals company’s stock valued at $227,000 after purchasing an additional 604 shares during the last quarter. HUB Investment Partners LLC raised its stake in Chemours by 1.4% during the 4th quarter. HUB Investment Partners LLC now owns 58,250 shares of the specialty chemicals company’s stock valued at $984,000 after acquiring an additional 821 shares during the last quarter. Itau Unibanco Holding S.A. raised its stake in Chemours by 39.3% during the 4th quarter. Itau Unibanco Holding S.A. now owns 3,554 shares of the specialty chemicals company’s stock valued at $60,000 after acquiring an additional 1,003 shares during the last quarter. ARGA Investment Management LP raised its stake in Chemours by 0.7% during the 4th quarter. ARGA Investment Management LP now owns 148,614 shares of the specialty chemicals company’s stock valued at $2,512,000 after acquiring an additional 1,032 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its stake in Chemours by 100.4% during the 4th quarter. Quadrant Capital Group LLC now owns 2,234 shares of the specialty chemicals company’s stock valued at $38,000 after acquiring an additional 1,119 shares during the last quarter. 76.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Shane Hostetter bought 4,450 shares of Chemours stock in a transaction that occurred on Monday, May 19th. The shares were purchased at an average price of $11.28 per share, with a total value of $50,196.00. Following the purchase, the chief financial officer now owns 59,694 shares in the company, valued at $673,348.32. This represents a 8.06% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.34% of the company’s stock.

Chemours Stock Performance

NYSE CC opened at $10.15 on Monday. The company has a current ratio of 1.68, a quick ratio of 0.92 and a debt-to-equity ratio of 6.70. The business’s 50 day moving average is $11.55 and its two-hundred day moving average is $15.63. The Chemours Company has a 12-month low of $9.33 and a 12-month high of $25.80. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 17.81 and a beta of 1.76.

Chemours (NYSE:CC) last released its quarterly earnings results on Tuesday, May 6th. The specialty chemicals company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. Chemours had a return on equity of 26.54% and a net margin of 1.51%. The business’s revenue was up .4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 EPS. Research analysts expect that The Chemours Company will post 2.03 EPS for the current year.

Chemours Dividend Announcement

The company also recently declared a dividend, which will be paid on Monday, June 16th. Investors of record on Monday, May 19th will be issued a $0.0875 dividend. This represents a dividend yield of 3.17%. The ex-dividend date is Friday, May 16th. Chemours’s dividend payout ratio is currently 175.00%.

Analysts Set New Price Targets

CC has been the subject of several analyst reports. Wall Street Zen downgraded Chemours from a “hold” rating to a “sell” rating in a research note on Wednesday, May 21st. Mizuho set a $15.00 price objective on Chemours in a research note on Tuesday, April 15th. BMO Capital Markets reduced their price objective on Chemours from $34.00 to $27.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Morgan Stanley reduced their price objective on Chemours from $22.00 to $15.00 and set an “equal weight” rating for the company in a research note on Monday, May 12th. Finally, UBS Group dropped their target price on Chemours from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $17.22.

Chemours 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.