Guggenheim Capital LLC Acquires 21,137 Shares of The Chemours Company (NYSE:CC)

Guggenheim Capital LLC grew its stake in shares of The Chemours Company (NYSE:CC - Free Report) by 90.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,421 shares of the specialty chemicals company's stock after buying an additional 21,137 shares during the quarter. Guggenheim Capital LLC's holdings in Chemours were worth $751,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Chemours by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 15,223,961 shares of the specialty chemicals company's stock valued at $257,285,000 after buying an additional 94,885 shares during the period. Norges Bank bought a new stake in shares of Chemours in the fourth quarter worth about $30,702,000. American Century Companies Inc. increased its holdings in Chemours by 7.6% during the 4th quarter. American Century Companies Inc. now owns 1,625,019 shares of the specialty chemicals company's stock valued at $27,463,000 after purchasing an additional 115,436 shares during the period. Massachusetts Financial Services Co. MA raised its position in Chemours by 4.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,593,070 shares of the specialty chemicals company's stock valued at $26,923,000 after purchasing an additional 66,962 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Chemours by 6.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,302,272 shares of the specialty chemicals company's stock worth $22,008,000 after buying an additional 73,220 shares during the period. Hedge funds and other institutional investors own 76.26% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CC. BMO Capital Markets reduced their target price on Chemours from $34.00 to $27.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 19th. Truist Financial decreased their price objective 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. Morgan Stanley cut their target price on shares of Chemours from $25.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Monday, January 13th. Mizuho set a $15.00 price target on shares of Chemours in a research note on Tuesday, April 15th. Finally, The Goldman Sachs Group cut 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. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $21.56.

Chemours Stock Up 5.1 %

CC stock opened at $12.44 on Friday. The Chemours Company has a twelve month low of $9.33 and a twelve month high of $29.21. The firm has a market cap of $1.86 billion, a PE ratio of 21.82 and a beta of 1.84. The business has a 50 day moving average of $13.41 and a 200 day moving average of $17.12. The company has a quick ratio of 0.92, a current ratio of 1.68 and a debt-to-equity ratio of 6.70.

Chemours (NYSE:CC - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.11 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.37 billion. On average, research analysts forecast that The Chemours Company will post 2.03 EPS for the current fiscal year.

Chemours Announces Dividend

The company also recently declared 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 8.04%. The ex-dividend date of this dividend was Friday, February 28th. Chemours's payout ratio is 175.44%.

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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