Edgestream Partners L.P. Has $6.50 Million Stock Holdings in The Chemours Company $CC

Edgestream Partners L.P. grew its stake in shares of The Chemours Company (NYSE:CC) by 1,126.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 294,881 shares of the specialty chemicals company’s stock after purchasing an additional 270,836 shares during the period. Edgestream Partners L.P. owned approximately 0.20% of Chemours worth $6,496,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in CC. Cooper Creek Partners Management LLC acquired a new position in Chemours during the 3rd quarter worth approximately $63,103,000. Scopia Capital Management LP grew its stake in Chemours by 71.7% in the second quarter. Scopia Capital Management LP now owns 3,355,261 shares of the specialty chemicals company’s stock valued at $38,418,000 after acquiring an additional 1,401,539 shares during the period. State Street Corp grew its stake in Chemours by 22.7% in the second quarter. State Street Corp now owns 6,114,328 shares of the specialty chemicals company’s stock valued at $70,009,000 after acquiring an additional 1,131,682 shares during the period. Sona Asset Management US LLC grew its stake in Chemours by 176.9% in the fourth quarter. Sona Asset Management US LLC now owns 1,651,275 shares of the specialty chemicals company’s stock valued at $19,469,000 after acquiring an additional 1,055,000 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Chemours by 36.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,701,294 shares of the specialty chemicals company’s stock valued at $43,638,000 after acquiring an additional 996,012 shares in the last quarter. Institutional investors own 76.26% of the company’s stock.

Chemours Stock Up 3.6%

Shares of NYSE:CC opened at $17.09 on Friday. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of -6.47 and a beta of 1.41. The company has a quick ratio of 0.87, a current ratio of 1.82 and a debt-to-equity ratio of 18.98. The Chemours Company has a 12-month low of $10.44 and a 12-month high of $28.67. The business’s 50 day moving average is $19.93 and its 200 day moving average is $20.01.

Chemours (NYSE:CC) last released its quarterly earnings results on Tuesday, May 5th. The specialty chemicals company reported $0.05 EPS 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 business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period in the prior year, the firm posted $0.13 EPS. Chemours’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, sell-side analysts forecast that The Chemours Company will post 1.18 earnings per share for the current fiscal year.

Chemours Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Sunday, May 17th were issued a $0.0875 dividend. The ex-dividend date was Friday, May 15th. This represents a $0.35 annualized dividend and a dividend yield of 2.0%. Chemours’s dividend payout ratio is currently -13.26%.

Wall Street Analysts Forecast Growth

CC has been the topic of a number of recent research reports. Morgan Stanley increased their target price on Chemours from $17.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Weiss Ratings restated a “sell (d)” rating on shares of Chemours in a report on Friday, July 17th. Alembic Global Advisors restated an “overweight” rating and set a $30.00 price objective on shares of Chemours in a report on Wednesday, May 13th. UBS Group raised their price objective on shares of Chemours from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Finally, Royal Bank Of Canada lifted 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. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Chemours has a consensus rating of “Moderate Buy” and a consensus 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.