Channing Capital Management LLC Makes New $4.70 Million Investment in The Chemours Company (NYSE:CC)

Channing Capital Management LLC acquired a new stake in shares of The Chemours Company (NYSE:CC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 278,144 shares of the specialty chemicals company's stock, valued at approximately $4,701,000. Channing Capital Management LLC owned about 0.19% of Chemours as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Appian Way Asset Management LP bought a new position in Chemours during the third quarter valued at approximately $34,151,000. Vision One Management Partners LP purchased a new stake in shares of Chemours during the 3rd quarter worth approximately $28,252,000. Scopia Capital Management LP bought a new position in shares of Chemours during the 3rd quarter valued at approximately $13,623,000. FMR LLC grew its holdings 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 valued at $368,650,000 after purchasing an additional 618,361 shares in the last quarter. Finally, Peregrine Capital Management LLC bought a new stake in Chemours in the fourth quarter worth $5,731,000. Hedge funds and other institutional investors own 76.26% of the company's stock.

Chemours Trading Up 1.8 %

Shares of CC opened at $13.69 on Wednesday. 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 firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of 24.02 and a beta of 2.00. The company has a 50-day moving average of $17.38 and a 200 day moving average of $18.59. The Chemours Company has a 1-year low of $13.09 and a 1-year high of $29.21.

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Chemours (NYSE:CC - Get Free Report) last announced its quarterly earnings results 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. Chemours had a return on equity of 26.54% and a net margin of 1.51%. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.37 billion. On average, research analysts expect that The Chemours Company will post 2.03 EPS for the current year.

Chemours Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.30%. The ex-dividend date is Friday, February 28th. Chemours's payout ratio is 175.44%.

Analyst Upgrades and Downgrades

Several research firms have commented on CC. Morgan Stanley lowered their price objective on shares of Chemours from $25.00 to $22.00 and set an "equal weight" rating for the company in a research report on Monday, January 13th. Truist Financial assumed coverage on Chemours in a research report on Tuesday, January 28th. They issued a "buy" rating and a $27.00 price target for the company. The Goldman Sachs Group decreased their price objective on Chemours from $24.00 to $21.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 7th. BMO Capital Markets dropped their target price on Chemours from $34.00 to $27.00 and set an "outperform" rating for the company in a report on Wednesday, February 19th. Finally, Mizuho cut their target price on Chemours from $22.00 to $21.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 7th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, Chemours has an average rating of "Hold" and an average target price of $23.11.

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.

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