Monaco Asset Management SAM Purchases 672,200 Shares of The Chemours Company $CC

Monaco Asset Management SAM increased its position in The Chemours Company (NYSE:CC) by 2,240.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 702,200 shares of the specialty chemicals company’s stock after buying an additional 672,200 shares during the period. Chemours comprises approximately 1.4% of Monaco Asset Management SAM’s holdings, making the stock its 15th largest position. Monaco Asset Management SAM owned 0.47% of Chemours worth $8,279,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CC. Norges Bank bought a new position in shares of Chemours during the 4th quarter valued at about $627,000. Eurizon Capital SGR S.p.A. bought a new position in shares of Chemours during the 4th quarter valued at about $31,000. Rothschild Investment LLC boosted its holdings in shares of Chemours by 87.0% during the 4th quarter. Rothschild Investment LLC now owns 2,698 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 1,255 shares during the last quarter. Intech Investment Management LLC boosted its holdings in shares of Chemours by 12.8% during the 4th quarter. Intech Investment Management LLC now owns 53,632 shares of the specialty chemicals company’s stock valued at $632,000 after purchasing an additional 6,078 shares during the last quarter. Finally, Penn Capital Management Company LLC boosted its holdings in shares of Chemours by 113.0% during the 4th quarter. Penn Capital Management Company LLC now owns 1,386,819 shares of the specialty chemicals company’s stock valued at $16,366,000 after purchasing an additional 735,668 shares during the last quarter. Institutional investors own 76.26% of the company’s stock.

Chemours Stock Up 0.0%

Shares of NYSE CC opened at $22.17 on Monday. The firm’s 50-day moving average price is $22.83 and its 200-day moving average price is $17.72. The company has a current ratio of 1.82, a quick ratio of 0.87 and a debt-to-equity ratio of 18.98. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of -8.40 and a beta of 1.40. The Chemours Company has a 12-month low of $9.13 and a 12-month high of $28.67.

Chemours (NYSE:CC) last announced its earnings results on Tuesday, May 5th. The specialty chemicals company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.10. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Chemours had a negative net margin of 6.82% and a positive return on equity of 52.49%. The business’s revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.13 EPS. On average, equities research analysts anticipate that The Chemours Company will post 1.27 EPS for the current fiscal year.

Chemours Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Sunday, May 17th will be given a dividend of $0.0875 per share. This represents a $0.35 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, May 15th. Chemours’s dividend payout ratio is currently -13.26%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CC shares. The Goldman Sachs Group increased their price objective on shares of Chemours from $14.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, February 25th. Royal Bank Of Canada increased their price objective on shares of Chemours from $26.00 to $29.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Morgan Stanley increased their price objective on shares of Chemours from $17.00 to $21.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Jefferies Financial Group reissued a “hold” rating and set a $17.00 price objective on shares of Chemours in a report on Monday, February 23rd. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Chemours in a research report on Monday, April 20th. Six investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Chemours presently has an average rating of “Hold” and an average price target of $24.60.

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.