Massachusetts Financial Services Co. MA Acquires 66,962 Shares of The Chemours Company (NYSE:CC)

Massachusetts Financial Services Co. MA lifted its stake in The Chemours Company (NYSE:CC - Free Report) by 4.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,593,070 shares of the specialty chemicals company's stock after acquiring an additional 66,962 shares during the period. Massachusetts Financial Services Co. MA owned 1.07% of Chemours worth $26,923,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Chemours by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 15,223,961 shares of the specialty chemicals company's stock valued at $257,285,000 after acquiring an additional 94,885 shares during the period. Geode Capital Management LLC lifted its position in shares of Chemours by 1.2% during the 3rd 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 last quarter. Norges Bank bought a new stake in Chemours during the 4th quarter valued at approximately $30,702,000. American Century Companies Inc. increased its position in Chemours by 7.6% in the 4th quarter. American Century Companies Inc. now owns 1,625,019 shares of the specialty chemicals company's stock worth $27,463,000 after buying an additional 115,436 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Chemours by 6.0% during the fourth 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 last quarter. 76.26% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

CC has been the topic of several research analyst reports. Truist Financial assumed coverage on shares of Chemours in a research note on Tuesday, January 28th. They issued a "buy" rating and a $27.00 price objective on the stock. Barclays decreased their price target on shares of Chemours from $19.00 to $16.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 1st. 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. The Goldman Sachs Group decreased 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. Finally, Morgan Stanley cut their price target on Chemours from $25.00 to $22.00 and set an "equal weight" rating for the company in a report on Monday, January 13th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $22.56.

Chemours Price Performance

NYSE CC traded up $0.47 during trading on Friday, reaching $11.28. 2,251,986 shares of the company traded hands, compared to its average volume of 1,817,331. The Chemours Company has a 1-year low of $9.33 and a 1-year high of $29.21. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 19.78 and a beta of 1.84. The stock's 50 day moving average price is $14.54 and its two-hundred day moving average price is $17.62. The company has a debt-to-equity ratio of 6.70, a quick ratio of 0.92 and a current ratio of 1.68.

Chemours (NYSE:CC - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.11 EPS for the quarter, beating 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 business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.37 billion. As a group, analysts anticipate that The Chemours Company will post 2.03 EPS for the current year.

Chemours Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.87%. The ex-dividend date of this dividend was Friday, February 28th. Chemours's dividend payout ratio (DPR) is currently 175.44%.

About Chemours

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.