American Century Companies Inc. Purchases 115,436 Shares of The Chemours Company (NYSE:CC)

American Century Companies Inc. increased its stake in shares of The Chemours Company (NYSE:CC - Free Report) by 7.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,625,019 shares of the specialty chemicals company's stock after purchasing an additional 115,436 shares during the quarter. American Century Companies Inc. owned 1.09% of Chemours worth $27,463,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Appian Way Asset Management LP acquired a new stake in Chemours in the third quarter valued at approximately $34,151,000. Vision One Management Partners LP acquired a new stake in Chemours during the third quarter worth about $28,252,000. Scopia Capital Management LP acquired a new position in shares of Chemours in the 3rd quarter valued at $13,623,000. FMR LLC raised its position in shares of Chemours by 3.5% in the third quarter. FMR LLC now owns 18,142,202 shares of the specialty chemicals company's stock worth $368,650,000 after acquiring an additional 618,361 shares during the period. Finally, Peregrine Capital Management LLC acquired a new stake in Chemours in the 4th quarter valued at $5,731,000. Institutional investors own 76.26% of the company's stock.

Chemours Stock Performance

Shares of Chemours stock traded up $0.12 during midday trading on Wednesday, hitting $13.08. The company had a trading volume of 4,548,007 shares, compared to its average volume of 1,736,742. The business's 50 day simple moving average is $16.02 and its two-hundred day simple moving average is $18.11. The Chemours Company has a 1-year low of $12.65 and a 1-year high of $29.21. The company has a debt-to-equity ratio of 6.70, a current ratio of 1.68 and a quick ratio of 0.92. The stock has a market cap of $1.95 billion, a PE ratio of 22.95 and a beta of 1.84.

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

Chemours Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.65%. Chemours's dividend payout ratio (DPR) is presently 175.44%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CC. Morgan Stanley cut their price target on Chemours from $25.00 to $22.00 and set an "equal weight" rating for the company in a report on Monday, January 13th. Truist Financial initiated coverage on Chemours in a research note on Tuesday, January 28th. They issued a "buy" rating and a $27.00 price objective for the company. The Goldman Sachs Group decreased their price objective on Chemours from $24.00 to $21.00 and set a "neutral" rating for the company in a research note on Tuesday, January 7th. BMO Capital Markets dropped their price target on shares of Chemours from $34.00 to $27.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 19th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $25.00 price target on shares of Chemours in a research note on Thursday, December 12th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $22.56.

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.