KLP Kapitalforvaltning AS Takes $515,000 Position in The Chemours Company (NYSE:CC)

KLP Kapitalforvaltning AS purchased a new stake in The Chemours Company (NYSE:CC - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 30,500 shares of the specialty chemicals company's stock, valued at approximately $515,000.

A number of other institutional investors have also made changes to their positions in the business. GAMMA Investing LLC raised its stake in Chemours by 99.7% during the 4th quarter. GAMMA Investing LLC now owns 1,532 shares of the specialty chemicals company's stock valued at $26,000 after purchasing an additional 765 shares during the last quarter. KBC Group NV increased its holdings in shares of Chemours by 38.2% during the 4th quarter. KBC Group NV now owns 6,176 shares of the specialty chemicals company's stock worth $104,000 after purchasing an additional 1,708 shares during the period. EMC Capital Management raised its position in shares of Chemours by 74.6% during the fourth quarter. EMC Capital Management now owns 9,534 shares of the specialty chemicals company's stock valued at $161,000 after buying an additional 4,073 shares during the last quarter. Matrix Trust Co lifted its stake in shares of Chemours by 715.7% in the fourth quarter. Matrix Trust Co now owns 9,952 shares of the specialty chemicals company's stock valued at $168,000 after buying an additional 8,732 shares during the period. Finally, Larson Financial Group LLC acquired a new stake in Chemours during the fourth quarter worth about $205,000. 76.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the company. The Goldman Sachs Group cut their price target on Chemours from $24.00 to $21.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Barclays cut their target price on Chemours from $19.00 to $16.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 1st. Mizuho upgraded shares of Chemours from a "neutral" rating to an "outperform" rating and set a $19.00 price target on the stock in a research note on Thursday, March 27th. Truist Financial started coverage on shares of Chemours in a research note on Tuesday, January 28th. They issued a "buy" rating and a $27.00 price objective for the company. Finally, BMO Capital Markets decreased their target price on shares of Chemours from $34.00 to $27.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $22.56.

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Chemours Price Performance

Shares of NYSE CC traded down $0.95 during midday trading on Tuesday, reaching $9.59. 4,376,204 shares of the company traded hands, compared to its average volume of 1,791,920. The Chemours Company has a 12 month low of $9.47 and a 12 month 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 stock's 50-day simple moving average is $15.12 and its 200-day simple moving average is $17.82. The firm has a market cap of $1.43 billion, a PE ratio of 16.82 and a beta of 1.84.

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 the consensus estimate of $0.10 by $0.01. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.37 billion. Chemours had a net margin of 1.51% and a return on equity of 26.54%. As a group, equities analysts anticipate 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 $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 10.43%. The ex-dividend date was Friday, February 28th. Chemours's payout ratio is currently 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.