Hudson Bay Capital Management LP Buys New Holdings in The Chemours Company $CC

Hudson Bay Capital Management LP acquired a new stake in shares of The Chemours Company (NYSE:CC) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 121,537 shares of the specialty chemicals company’s stock, valued at approximately $1,925,000. Hudson Bay Capital Management LP owned about 0.08% of Chemours at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of CC. Entropy Technologies LP raised its position in shares of Chemours by 478.3% during the 2nd quarter. Entropy Technologies LP now owns 62,075 shares of the specialty chemicals company’s stock valued at $711,000 after buying an additional 51,341 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Chemours in the third quarter worth about $2,124,000. Vision One Management Partners LP increased its stake in Chemours by 10.4% during the second quarter. Vision One Management Partners LP now owns 1,720,189 shares of the specialty chemicals company’s stock worth $19,696,000 after acquiring an additional 161,691 shares during the last quarter. Geode Capital Management LLC raised its position in Chemours by 41.4% during the second quarter. Geode Capital Management LLC now owns 3,484,416 shares of the specialty chemicals company’s stock valued at $39,901,000 after purchasing an additional 1,020,933 shares during the period. Finally, WINTON GROUP Ltd raised its position in Chemours by 103.5% during the third quarter. WINTON GROUP Ltd now owns 114,100 shares of the specialty chemicals company’s stock valued at $1,807,000 after purchasing an additional 58,039 shares during the period. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Chemours Price Performance

Shares of CC stock opened at $17.71 on Monday. The stock has a 50 day moving average price of $17.45 and a 200 day moving average price of $14.95. The Chemours Company has a 52-week low of $9.13 and a 52-week high of $21.85. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.85 and a current ratio of 1.78. The firm has a market capitalization of $2.66 billion, a P/E ratio of -7.14 and a beta of 1.60.

Chemours (NYSE:CC) last announced its quarterly earnings data on Thursday, February 19th. The specialty chemicals company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.01 by $0.04. Chemours had a positive return on equity of 41.75% and a negative net margin of 6.41%.The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the company posted $0.09 EPS. Chemours’s quarterly revenue was down 2.2% on a year-over-year basis. As a group, sell-side analysts predict that The Chemours Company will post 2.03 earnings per share for the current year.

Chemours Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were paid a $0.0875 dividend. This represents a $0.35 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Friday, February 27th. Chemours’s dividend payout ratio (DPR) is currently -14.11%.

Analyst Ratings Changes

A number of equities analysts have recently commented on CC shares. Mizuho lifted their target price on Chemours from $17.00 to $21.00 and gave the stock an “outperform” rating in a report on Thursday, March 5th. UBS Group increased their price target on Chemours from $18.00 to $23.00 and gave the company a “buy” rating in a report on Monday, February 23rd. Morgan Stanley raised their price target on Chemours from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Monday, February 23rd. BMO Capital Markets cut their price objective on shares of Chemours from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Monday, February 23rd. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Chemours in a research note on Wednesday, January 21st. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Chemours has a consensus rating of “Hold” and a consensus price target of $18.40.

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.