RBF Capital LLC Sells 139,612 Shares of The Chemours Company $CC

RBF Capital LLC cut its stake in The Chemours Company (NYSE:CC) by 53.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 122,000 shares of the specialty chemicals company’s stock after selling 139,612 shares during the period. RBF Capital LLC’s holdings in Chemours were worth $2,688,000 at the end of the most recent reporting period.

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

Chemours Price Performance

Chemours stock opened at $16.45 on Thursday. The company has a debt-to-equity ratio of 18.98, a quick ratio of 0.87 and a current ratio of 1.82. The firm has a market cap of $2.47 billion, a P/E ratio of -6.23 and a beta of 1.41. The business’s fifty day moving average is $20.02 and its two-hundred day moving average is $19.99. The Chemours Company has a 52 week low of $10.44 and a 52 week 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 for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.10. Chemours had a positive return on equity of 52.49% and a negative net margin of 6.82%.The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the company posted $0.13 earnings per share. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. Equities research analysts forecast that The Chemours Company will post 1.18 earnings per share for the current fiscal year.

Chemours Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Sunday, May 17th were given a $0.0875 dividend. This represents a $0.35 annualized dividend and a yield of 2.1%. The ex-dividend date was Friday, May 15th. Chemours’s dividend payout ratio (DPR) is presently -13.26%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CC shares. Morgan Stanley upped their target price on shares of Chemours from $17.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. JPMorgan Chase & Co. lifted their price target on shares of Chemours from $17.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, May 21st. Royal Bank Of Canada boosted their price target on shares of Chemours from $26.00 to $29.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Truist Financial upped their price objective on shares of Chemours from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Finally, Mizuho dropped their price objective on shares of Chemours from $30.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.10.

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.