The Chemours Company (NYSE:CC) is Khrom Capital Management LLC’s Largest Position

Khrom Capital Management LLC increased its stake in The Chemours Company (NYSE:CC) by 54.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,456,626 shares of the specialty chemicals company’s stock after purchasing an additional 1,220,967 shares during the quarter. Chemours makes up approximately 14.7% of Khrom Capital Management LLC’s portfolio, making the stock its biggest holding. Khrom Capital Management LLC owned 2.32% of Chemours worth $78,016,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of CC. Burney Co. boosted its position in Chemours by 0.3% during the first quarter. Burney Co. now owns 197,046 shares of the specialty chemicals company’s stock worth $5,174,000 after purchasing an additional 601 shares during the period. Treasurer of the State of North Carolina grew its stake in Chemours by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 65,924 shares of the specialty chemicals company’s stock valued at $2,079,000 after buying an additional 640 shares in the last quarter. Lavaca Capital LLC grew its stake in Chemours by 2.7% in the 1st quarter. Lavaca Capital LLC now owns 24,658 shares of the specialty chemicals company’s stock valued at $648,000 after buying an additional 641 shares in the last quarter. Arizona State Retirement System raised its holdings in Chemours by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 41,657 shares of the specialty chemicals company’s stock valued at $940,000 after acquiring an additional 863 shares during the period. Finally, State of Michigan Retirement System lifted its position in shares of Chemours by 2.5% during the first quarter. State of Michigan Retirement System now owns 36,479 shares of the specialty chemicals company’s stock worth $958,000 after acquiring an additional 900 shares in the last quarter. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CC shares. JPMorgan Chase & Co. reduced their price target on Chemours from $25.00 to $18.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. UBS Group reduced their target price on Chemours from $30.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. The Goldman Sachs Group lowered their price target on shares of Chemours from $29.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, September 3rd. BMO Capital Markets reduced their price objective on shares of Chemours from $35.00 to $30.00 and set an “outperform” rating for the company in a research note on Tuesday, August 6th. Finally, Barclays lowered their target price on shares of Chemours from $30.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 6th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Chemours presently has a consensus rating of “Hold” and a consensus price target of $26.75.

Chemours Trading Down 2.8 %

Shares of Chemours stock opened at $18.70 on Monday. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.89 and a quick ratio of 1.01. The Chemours Company has a 1 year low of $15.10 and a 1 year high of $32.70. The firm has a market cap of $2.78 billion, a PE ratio of -8.62 and a beta of 1.74. The company has a 50 day simple moving average of $20.05 and a two-hundred day simple moving average of $23.88.

Chemours (NYSE:CC) last posted its quarterly earnings data on Thursday, August 1st. The specialty chemicals company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.19). The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. Chemours had a return on equity of 33.21% and a net margin of 2.16%. The business’s revenue was down 6.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.10 earnings per share. Analysts expect that The Chemours Company will post 1.33 earnings per share for the current fiscal year.

Chemours Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 15th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.35%. The ex-dividend date was Thursday, August 15th. Chemours’s payout ratio is currently -46.08%.

Chemours Company Profile

The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. It operates through three segments: Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure brand for delivering whiteness, brightness, opacity, durability, efficiency, and protection in various of applications, such as architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride, laminate papers used for furniture and building materials, coated paper, and coated paperboard used for packaging.