Legal & General Group Plc Buys 259,860 Shares of The Chemours Company (NYSE:CC)

Legal & General Group Plc lifted its stake in The Chemours Company (NYSE:CC - Free Report) by 26.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,247,096 shares of the specialty chemicals company's stock after acquiring an additional 259,860 shares during the quarter. Legal & General Group Plc owned approximately 0.83% of Chemours worth $21,076,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of 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 in the last quarter. Quadrant Capital Group LLC raised its holdings in Chemours by 100.4% in the 4th quarter. Quadrant Capital Group LLC now owns 2,234 shares of the specialty chemicals company's stock worth $38,000 after acquiring an additional 1,119 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in Chemours during the fourth quarter valued at about $48,000. KBC Group NV increased its stake in shares of Chemours by 38.2% in the fourth 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. Finally, EMC Capital Management lifted its position in shares of Chemours by 74.6% during the 4th quarter. EMC Capital Management now owns 9,534 shares of the specialty chemicals company's stock worth $161,000 after purchasing an additional 4,073 shares during the last quarter. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

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Chemours Price Performance

Shares of NYSE:CC traded down $0.40 on Tuesday, hitting $11.13. The stock had a trading volume of 1,744,948 shares, compared to its average volume of 1,825,919. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 19.52 and a beta of 1.84. 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 firm's 50 day moving average price is $14.25 and its 200-day moving average price is $17.49. The Chemours Company has a twelve month low of $9.33 and a twelve month high of $29.21.

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

Chemours Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 8.99%. The ex-dividend date of this dividend was Friday, February 28th. Chemours's dividend payout ratio is currently 175.44%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Morgan Stanley dropped their price target on Chemours from $25.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Monday, January 13th. The Goldman Sachs Group dropped their target price on shares of Chemours from $24.00 to $21.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 7th. 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. Mizuho set a $15.00 price objective on shares of Chemours in a report on Tuesday. Finally, BMO Capital Markets cut their price objective on shares of Chemours from $34.00 to $27.00 and set an "outperform" rating for the company in a research report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $21.56.

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.