Covalis Capital LLP Makes New Investment in The Chemours Company (NYSE:CC)

Covalis Capital LLP bought a new position in shares of The Chemours Company (NYSE:CC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 518,840 shares of the specialty chemicals company's stock, valued at approximately $8,768,000. Chemours accounts for 1.3% of Covalis Capital LLP's portfolio, making the stock its 28th largest holding. Covalis Capital LLP owned 0.35% of Chemours at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CC. HighTower Advisors LLC raised its holdings in Chemours by 10.1% during the 3rd quarter. HighTower Advisors LLC now owns 15,020 shares of the specialty chemicals company's stock valued at $300,000 after buying an additional 1,384 shares during the period. Barclays PLC boosted its holdings in Chemours by 28.4% during the 3rd quarter. Barclays PLC now owns 107,549 shares of the specialty chemicals company's stock valued at $2,185,000 after acquiring an additional 23,766 shares during the period. Geode Capital Management LLC increased its stake in Chemours by 1.2% in the third quarter. Geode Capital Management LLC now owns 2,491,748 shares of the specialty chemicals company's stock worth $50,646,000 after purchasing an additional 28,803 shares during the period. M&T Bank Corp boosted its stake in shares of Chemours by 4.1% during the third quarter. M&T Bank Corp now owns 510,343 shares of the specialty chemicals company's stock valued at $10,370,000 after purchasing an additional 20,122 shares during the period. Finally, GAMMA Investing LLC increased its stake in Chemours by 99.7% in the 4th quarter. GAMMA Investing LLC now owns 1,532 shares of the specialty chemicals company's stock worth $26,000 after buying an additional 765 shares during the period. 76.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CC. Barclays reduced their price target on shares of Chemours from $19.00 to $16.00 and set an "equal weight" rating for the company in a report on Tuesday, April 1st. BMO Capital Markets cut their price target on shares of Chemours from $34.00 to $27.00 and set an "outperform" rating on the stock in a report on Wednesday, February 19th. The Goldman Sachs Group reduced their target price on Chemours from $24.00 to $21.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 7th. Truist Financial dropped their target price on shares of Chemours from $27.00 to $22.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Morgan Stanley reduced their target price on Chemours from $25.00 to $22.00 and set an "equal weight" rating for the company in a research note on Monday, January 13th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $21.56.

Chemours Trading Up 3.1 %

Shares of Chemours stock opened at $11.37 on Friday. The Chemours Company has a fifty-two week low of $9.33 and a fifty-two week high of $29.21. The company has a debt-to-equity ratio of 6.70, a quick ratio of 0.92 and a current ratio of 1.68. The company has a market cap of $1.70 billion, a P/E ratio of 19.94 and a beta of 1.84. The firm has a 50-day simple moving average of $13.83 and a two-hundred day simple moving average of $17.33.

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

Chemours Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.80%. The ex-dividend date was Friday, February 28th. Chemours's payout ratio is 175.44%.

Chemours Company 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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