Lavaca Capital LLC Increases Holdings in The Chemours Company (NYSE:CC)

Lavaca Capital LLC lifted its holdings in The Chemours Company (NYSE:CC) by 2.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,658 shares of the specialty chemicals company’s stock after purchasing an additional 641 shares during the quarter. Lavaca Capital LLC’s holdings in Chemours were worth $648,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Hexagon Capital Partners LLC bought a new position in shares of Chemours in the fourth quarter worth about $25,000. North Star Investment Management Corp. raised its position in Chemours by 1,510.0% during the first quarter. North Star Investment Management Corp. now owns 1,288 shares of the specialty chemicals company’s stock valued at $34,000 after purchasing an additional 1,208 shares during the period. Morton Brown Family Wealth LLC purchased a new stake in shares of Chemours in the fourth quarter worth approximately $35,000. Sunbelt Securities Inc. raised its holdings in shares of Chemours by 1,969.7% in the first quarter. Sunbelt Securities Inc. now owns 1,366 shares of the specialty chemicals company’s stock worth $36,000 after buying an additional 1,300 shares during the period. Finally, Neo Ivy Capital Management purchased a new stake in shares of Chemours in the fourth quarter worth approximately $40,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Chemours Stock Down 1.9 %

NYSE CC traded down $0.47 during midday trading on Monday, hitting $23.85. 762,443 shares of the company traded hands, compared to its average volume of 1,584,339. The company has a debt-to-equity ratio of 5.26, a current ratio of 1.61 and a quick ratio of 0.99. The company has a market cap of $3.55 billion, a PE ratio of -10.99 and a beta of 1.80. The company’s 50-day simple moving average is $24.14 and its 200-day simple moving average is $26.55. The Chemours Company has a 52 week low of $15.10 and a 52 week high of $37.83.

Chemours (NYSE:CC) last announced its earnings results on Tuesday, April 30th. The specialty chemicals company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.07. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.35 billion. Chemours had a positive return on equity of 46.67% and a negative net margin of 5.51%. The business’s revenue for the quarter was down 12.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.98 EPS. As a group, equities research analysts forecast that The Chemours Company will post 1.81 earnings per share for the current year.

Chemours Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 15th will be given a $0.25 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.19%. Chemours’s payout ratio is -46.08%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. UBS Group upgraded Chemours from a “neutral” rating to a “buy” rating and increased their price target for the stock from $28.00 to $30.00 in a report on Tuesday, July 9th. Mizuho assumed coverage on Chemours in a report on Friday, June 7th. They issued a “neutral” rating and a $25.00 price target on the stock. BMO Capital Markets upgraded Chemours from an “underperform” rating to an “outperform” rating and increased their price target for the stock from $19.00 to $34.00 in a report on Tuesday, April 9th. Finally, Barclays reduced their price target on Chemours from $32.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 2nd. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $30.38.

Chemours 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.