Proficio Capital Partners LLC Takes $334,000 Position in The Chemours Company (NYSE:CC)

Proficio Capital Partners LLC 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 filing with the Securities & Exchange Commission. The firm bought 19,790 shares of the specialty chemicals company's stock, valued at approximately $334,000.

Other hedge funds have also added to or reduced their stakes in the company. Victory Capital Management Inc. increased its position in Chemours by 6.8% during the fourth quarter. Victory Capital Management Inc. now owns 110,311 shares of the specialty chemicals company's stock worth $1,864,000 after acquiring an additional 7,052 shares during the period. Charles Schwab Investment Management Inc. increased 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 purchasing an additional 73,220 shares during the period. LGT Fund Management Co Ltd. increased its holdings in shares of Chemours by 12.3% during the fourth quarter. LGT Fund Management Co Ltd. now owns 215,481 shares of the specialty chemicals company's stock worth $3,642,000 after purchasing an additional 23,553 shares during the period. Heritage Investors Management Corp raised its position in shares of Chemours by 1.1% in the fourth quarter. Heritage Investors Management Corp now owns 105,322 shares of the specialty chemicals company's stock valued at $1,780,000 after buying an additional 1,174 shares in the last quarter. Finally, Amalgamated Bank boosted its stake in shares of Chemours by 4.6% in the fourth quarter. Amalgamated Bank now owns 72,714 shares of the specialty chemicals company's stock valued at $1,229,000 after buying an additional 3,188 shares during the period. 76.26% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of research firms have recently weighed in on CC. BMO Capital Markets cut their target price on Chemours from $34.00 to $27.00 and set an "outperform" rating for the company in a research report on Wednesday, February 19th. Morgan Stanley cut their price objective on shares of Chemours from $25.00 to $22.00 and set an "equal weight" rating for the company in a research report on Monday, January 13th. Truist Financial started coverage on shares of Chemours in a report on Tuesday, January 28th. They issued a "buy" rating and a $27.00 target price on the stock. The Goldman Sachs Group cut their price target on shares of Chemours from $24.00 to $21.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $25.00 price objective on shares of Chemours in a research note on Thursday, December 12th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.89.

Chemours Price Performance

NYSE:CC traded down $0.57 on Friday, hitting $13.73. The company had a trading volume of 2,347,561 shares, compared to its average volume of 1,727,933. The firm has a 50 day moving average of $16.41 and a two-hundred day moving average of $18.20. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 24.08 and a beta of 2.00. The Chemours Company has a 52 week low of $13.09 and a 52 week high of $29.21. The company has a current ratio of 1.68, a quick ratio of 0.92 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 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%. On average, research analysts anticipate that The Chemours Company will post 2.03 earnings per share for the current year.

Chemours Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 7.29%. The ex-dividend date was Friday, February 28th. Chemours's dividend payout ratio is presently 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.