The Chemours Company (NYSE:CC) Shares Purchased by Tower Research Capital LLC TRC

Aug 06, 2023

Tower Research Capital LLC TRC raised its stake in shares of The Chemours Company (NYSE:CC - Free Report) by 98.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,847 shares of the specialty chemicals company's stock after buying an additional 6,369 shares during the quarter. Tower Research Capital LLC TRC's holdings in Chemours were worth $384,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Creative Planning grew its holdings in Chemours by 2.9% during the 4th quarter. Creative Planning now owns 13,601 shares of the specialty chemicals company's stock valued at $416,000 after buying an additional 379 shares during the last quarter. Brown Advisory Inc. boosted its holdings in shares of Chemours by 3.0% during the first quarter. Brown Advisory Inc. now owns 14,177 shares of the specialty chemicals company's stock worth $424,000 after purchasing an additional 411 shares during the last quarter. Baird Financial Group Inc. boosted its holdings in shares of Chemours by 4.3% during the first quarter. Baird Financial Group Inc. now owns 10,390 shares of the specialty chemicals company's stock worth $327,000 after purchasing an additional 426 shares during the last quarter. Commerce Bank boosted its holdings in shares of Chemours by 4.5% during the first quarter. Commerce Bank now owns 10,817 shares of the specialty chemicals company's stock worth $324,000 after purchasing an additional 466 shares during the last quarter. Finally, ProShare Advisors LLC boosted its holdings in shares of Chemours by 3.2% during the fourth quarter. ProShare Advisors LLC now owns 15,986 shares of the specialty chemicals company's stock worth $489,000 after purchasing an additional 492 shares during the last quarter. Institutional investors and hedge funds own 70.80% of the company's stock.

Shares of CC opened at $32.01 on Thursday. The stock's 50-day moving average is $35.86 and its two-hundred day moving average is $32.63. The stock has a market cap of $4.74 billion, a PE ratio of -47.07, a P/E/G ratio of 1.24 and a beta of 1.96. The Chemours Company has a 12 month low of $23.58 and a 12 month high of $39.05. The company has a debt-to-equity ratio of 4.45, a current ratio of 1.54 and a quick ratio of 0.88.

Chemours (NYSE:CC - Get Free Report) last issued its quarterly earnings data on Friday, July 28th. The specialty chemicals company reported $1.10 EPS for the quarter, topping analysts' consensus estimates of $1.09 by $0.01. The company had revenue of $1.64 billion for the quarter, compared to analysts' expectations of $1.75 billion. Chemours had a positive return on equity of 46.14% and a negative net margin of 1.40%. During the same quarter in the previous year, the firm posted $1.89 earnings per share. Equities analysts forecast that The Chemours Company will post 3.38 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date is Monday, August 14th. Chemours's dividend payout ratio is presently -147.06%.

Several research firms have recently issued reports on CC. UBS Group raised their price objective on Chemours from $41.00 to $43.00 in a report on Tuesday, June 13th. Royal Bank of Canada raised their price objective on Chemours from $37.00 to $40.00 and gave the stock a "sector perform" rating in a report on Monday, July 31st. Bank of America cut Chemours from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $41.00 to $37.00 in a report on Thursday, June 22nd. BMO Capital Markets reduced their target price on Chemours from $64.00 to $53.00 and set an "outperform" rating on the stock in a report on Wednesday, August 2nd. Finally, StockNews.com initiated coverage on Chemours in a report on Thursday, August 17th. They issued a "hold" rating on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $38.22.

Get Our Latest Research Report on CC

In other Chemours news, SVP Matthew S. Abbott sold 8,912 shares of the company's stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $34.20, for a total value of $304,790.40. Following the transaction, the senior vice president now directly owns 29,869 shares of the company's stock, valued at approximately $1,021,519.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Mark Newman purchased 7,661 shares of the company's stock in a transaction that occurred on Friday, June 9th. The shares were acquired at an average cost of $34.63 per share, with a total value of $265,300.43. Following the transaction, the chief executive officer now owns 266,955 shares in the company, valued at approximately $9,244,651.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Matthew S. Abbott sold 8,912 shares of the company's stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $34.20, for a total value of $304,790.40. Following the sale, the senior vice president now directly owns 29,869 shares in the company, valued at $1,021,519.80. The disclosure for this sale can be found here. 1.63% of the stock is currently owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Before you consider Chemours, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Chemours wasn't on the list.

While Chemours currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Which stocks are likely to thrive in today's challenging market? Click the link below and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.

Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools:

View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.

Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat's trending stocks report.

Identify stocks that meet your criteria using seven unique stock screeners. See what's happening in the market right now with MarketBeat's real-time news feed. Export data to Excel for your own analysis.