210,762 Shares in The Chemours Company (NYSE:CC) Bought by Dark Forest Capital Management LP

Dark Forest Capital Management LP purchased a new position in The Chemours Company (NYSE:CC - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 210,762 shares of the specialty chemicals company's stock, valued at approximately $3,562,000. Chemours accounts for approximately 0.5% of Dark Forest Capital Management LP's investment portfolio, making the stock its 13th biggest position. Dark Forest Capital Management LP owned about 0.14% of Chemours as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new stake in Chemours in the 4th quarter valued at $30,702,000. Bank of Montreal Can lifted its stake in shares of Chemours by 1,496.4% in the fourth quarter. Bank of Montreal Can now owns 953,240 shares of the specialty chemicals company's stock valued at $16,110,000 after buying an additional 893,530 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Chemours by 141.5% during the fourth quarter. Invesco Ltd. now owns 1,020,001 shares of the specialty chemicals company's stock valued at $17,238,000 after buying an additional 597,638 shares during the last quarter. Covalis Capital LLP acquired a new stake in shares of Chemours in the 4th quarter worth about $8,768,000. Finally, Peregrine Capital Management LLC acquired a new stake in shares of Chemours in the 4th quarter worth about $5,731,000. Institutional investors and hedge funds own 76.26% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Morgan Stanley decreased their price objective on Chemours from $25.00 to $22.00 and set an "equal weight" rating for the company in a report on Monday, January 13th. The Goldman Sachs Group lowered their price target on Chemours from $24.00 to $21.00 and set a "neutral" rating for the company in a research report on Tuesday, January 7th. Barclays cut their price objective on shares of Chemours from $19.00 to $16.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 1st. Truist Financial lowered their target price on shares of Chemours from $27.00 to $22.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Mizuho set a $15.00 price target on shares of Chemours in a report on Tuesday, April 15th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $21.56.

Chemours Stock Performance

Shares of CC stock opened at $12.05 on Wednesday. The Chemours Company has a 52 week low of $9.33 and a 52 week high of $29.21. The firm's 50-day simple moving average is $13.59 and its two-hundred day simple moving average is $17.21. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of 21.15 and a beta of 1.84. The company has a debt-to-equity ratio of 6.70, a quick ratio of 0.92 and a current ratio of 1.68.

Chemours (NYSE:CC - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The specialty chemicals company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.10 by $0.01. Chemours had a return on equity of 26.54% and a net margin of 1.51%. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.37 billion. As a group, equities analysts forecast that The Chemours Company will post 2.03 earnings per share for the current year.

Chemours Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.00 annualized dividend and a dividend yield of 8.30%. Chemours's payout ratio is 175.44%.

About Chemours

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.

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