Annis Gardner Whiting Capital Advisors LLC Invests $3.75 Million in The Chemours Company $CC

Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of The Chemours Company (NYSE:CC) during the first quarter, according to its most recent disclosure with the SEC. The fund acquired 170,000 shares of the specialty chemicals company’s stock, valued at approximately $3,745,000. Chemours makes up about 0.6% of Annis Gardner Whiting Capital Advisors LLC’s holdings, making the stock its 22nd largest position. Annis Gardner Whiting Capital Advisors LLC owned 0.11% of Chemours at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Cooper Creek Partners Management LLC bought a new position in shares of Chemours in the third quarter worth approximately $63,103,000. Scopia Capital Management LP boosted its holdings in Chemours by 71.7% in the 2nd quarter. Scopia Capital Management LP now owns 3,355,261 shares of the specialty chemicals company’s stock worth $38,418,000 after buying an additional 1,401,539 shares during the period. State Street Corp increased its stake in Chemours by 22.7% in the 2nd quarter. State Street Corp now owns 6,114,328 shares of the specialty chemicals company’s stock worth $70,009,000 after buying an additional 1,131,682 shares in the last quarter. Sona Asset Management US LLC increased its stake in Chemours by 176.9% in the 4th quarter. Sona Asset Management US LLC now owns 1,651,275 shares of the specialty chemicals company’s stock worth $19,469,000 after buying an additional 1,055,000 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Chemours by 36.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,701,294 shares of the specialty chemicals company’s stock valued at $43,638,000 after acquiring an additional 996,012 shares during the period. 76.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CC has been the subject of several recent analyst reports. Truist Financial upped their price target on Chemours from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Royal Bank Of Canada boosted their target price on shares of Chemours from $26.00 to $29.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Zacks Research upgraded shares of Chemours from a “strong sell” rating to a “hold” rating in a research report on Friday, April 24th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Chemours in a research note on Monday, April 20th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Chemours from $17.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, May 21st. Six equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Chemours presently has a consensus rating of “Hold” and a consensus price target of $24.10.

Chemours Stock Performance

NYSE:CC opened at $17.56 on Friday. The firm has a market capitalization of $2.64 billion, a PE ratio of -6.65 and a beta of 1.41. The stock’s fifty day moving average is $21.05 and its 200 day moving average is $19.67. The Chemours Company has a fifty-two week low of $10.44 and a fifty-two week high of $28.67. The company has a debt-to-equity ratio of 18.98, a quick ratio of 0.87 and a current ratio of 1.82.

Chemours (NYSE:CC) last posted its quarterly earnings data on Tuesday, May 5th. The specialty chemicals company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.10. Chemours had a negative net margin of 6.82% and a positive return on equity of 52.49%. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period in the previous year, the firm earned $0.13 earnings per share. Chemours’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, sell-side analysts anticipate that The Chemours Company will post 1.16 earnings per share for the current year.

Chemours Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Sunday, May 17th were given a $0.0875 dividend. This represents a $0.35 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Friday, May 15th. Chemours’s dividend payout ratio is -13.26%.

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.