Brasada Capital Management LP Buys New Stake in The Chemours Company $CC

Brasada Capital Management LP purchased a new stake in The Chemours Company (NYSE:CC) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 183,367 shares of the specialty chemicals company’s stock, valued at approximately $3,763,000.

Other hedge funds also recently added to or reduced their stakes in the company. Atlas Capital Advisors Inc. purchased a new stake in shares of Chemours during the 4th quarter worth about $26,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Chemours in the 4th quarter valued at about $28,000. Covestor Ltd raised its holdings in Chemours by 204.7% in the 4th quarter. Covestor Ltd now owns 2,602 shares of the specialty chemicals company’s stock worth $31,000 after purchasing an additional 1,748 shares during the period. Eurizon Capital SGR S.p.A. acquired a new position in Chemours in the 4th quarter worth about $31,000. Finally, Rothschild Investment LLC boosted its position in Chemours by 87.0% during the fourth quarter. Rothschild Investment LLC now owns 2,698 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 1,255 shares in the last quarter. 76.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CC. UBS Group reaffirmed a “neutral” rating and issued a $18.00 price target (down from $29.00) on shares of Chemours in a research note on Monday, August 10th. Royal Bank Of Canada reduced their price objective on Chemours from $26.00 to $22.00 and set an “outperform” rating for the company in a research note on Thursday, August 6th. Alembic Global Advisors restated an “overweight” rating and issued a $30.00 price objective on shares of Chemours in a report on Wednesday, May 13th. Weiss Ratings cut shares of Chemours from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, August 6th. Finally, Mizuho set a $22.00 target price on shares of Chemours in a report on Wednesday, August 5th. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $20.10.

Chemours Stock Performance

Shares of Chemours stock opened at $15.85 on Friday. The Chemours Company has a 52 week low of $10.44 and a 52 week high of $28.67. The business’s fifty day simple moving average is $17.52 and its 200-day simple moving average is $20.00. The firm has a market cap of $2.39 billion, a PE ratio of -8.30 and a beta of 1.43. The company has a quick ratio of 0.88, a current ratio of 1.66 and a debt-to-equity ratio of 18.98.

Chemours (NYSE:CC) last released its quarterly earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.07). The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Chemours had a positive return on equity of 60.64% and a negative net margin of 5.00%.The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($2.54) earnings per share. Equities analysts forecast that The Chemours Company will post 0.87 earnings per share for the current year.

Chemours Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.0875 per share. This represents a $0.35 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Friday, August 14th. Chemours’s dividend payout ratio (DPR) is -18.32%.

Insider Buying and Selling at Chemours

In related news, insider Calderon Gerardo Familiar purchased 1,935 shares of the company’s stock in a transaction on Wednesday, August 12th. The stock was acquired at an average cost of $15.53 per share, for a total transaction of $30,050.55. Following the completion of the transaction, the insider directly owned 58,547 shares in the company, valued at approximately $909,234.91. The trade was a 3.42% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Shane Hostetter purchased 3,350 shares of Chemours stock in a transaction dated Thursday, August 6th. The stock was bought at an average cost of $14.94 per share, for a total transaction of $50,049.00. Following the completion of the purchase, the chief financial officer directly owned 102,698 shares in the company, valued at approximately $1,534,308.12. This trade represents a 3.37% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased a total of 8,663 shares of company stock worth $130,601 over the last three months. Insiders own 0.85% of the company’s stock.

Chemours Profile

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.