SummerHaven Investment Management LLC Invests $956,000 in The Chemours Company $CC

SummerHaven Investment Management LLC bought a new position in shares of The Chemours Company (NYSE:CC) in the third quarter, Holdings Channel.com reports. The institutional investor bought 60,382 shares of the specialty chemicals company’s stock, valued at approximately $956,000.

Other large investors have also recently bought and sold shares of the company. MTM Investment Management LLC purchased a new position in Chemours during the 2nd quarter worth approximately $27,000. GAMMA Investing LLC raised its holdings in shares of Chemours by 130.7% during the second quarter. GAMMA Investing LLC now owns 3,175 shares of the specialty chemicals company’s stock worth $36,000 after purchasing an additional 1,799 shares during the last quarter. Evelyn Partners Asset Management Ltd purchased a new position in shares of Chemours during the second quarter worth $37,000. FNY Investment Advisers LLC lifted its position in Chemours by 100.0% during the second quarter. FNY Investment Advisers LLC now owns 4,000 shares of the specialty chemicals company’s stock valued at $45,000 after purchasing an additional 2,000 shares during the period. Finally, CWM LLC boosted its holdings in Chemours by 34.7% in the second quarter. CWM LLC now owns 4,290 shares of the specialty chemicals company’s stock valued at $49,000 after purchasing an additional 1,104 shares during the last quarter. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Chemours in a research note on Wednesday, January 21st. JPMorgan Chase & Co. dropped their target price on Chemours from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, December 3rd. Mizuho reduced their price target on Chemours from $19.00 to $18.00 and set an “outperform” rating for the company in a research report on Thursday, October 16th. Truist Financial upped their price objective on Chemours from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, January 21st. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $20.00 price objective on shares of Chemours in a research note on Monday, January 19th. Five research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Chemours currently has a consensus rating of “Hold” and a consensus price target of $16.67.

Chemours Stock Performance

Shares of CC stock opened at $15.66 on Wednesday. The company has a current ratio of 1.71, a quick ratio of 0.88 and a debt-to-equity ratio of 13.66. The Chemours Company has a 12-month low of $9.13 and a 12-month high of $19.75. The business’s 50 day moving average is $13.06 and its two-hundred day moving average is $13.82. The company has a market capitalization of $2.35 billion, a P/E ratio of -7.05 and a beta of 1.61.

Chemours (NYSE:CC) last announced its earnings results on Thursday, November 6th. The specialty chemicals company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.04). Chemours had a positive return on equity of 35.27% and a negative net margin of 5.70%.The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the company earned $0.40 earnings per share. The company’s quarterly revenue was down .9% compared to the same quarter last year. Analysts expect that The Chemours Company will post 2.03 EPS for the current fiscal year.

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.