Raymond James Financial Inc. Makes New $2.28 Million Investment in The Chemours Company (NYSE:CC)

Raymond James Financial Inc. acquired a new stake in The Chemours Company (NYSE:CC - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 135,110 shares of the specialty chemicals company's stock, valued at approximately $2,283,000. Raymond James Financial Inc. owned approximately 0.09% of Chemours as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its holdings in Chemours by 99.7% in the 4th quarter. GAMMA Investing LLC now owns 1,532 shares of the specialty chemicals company's stock valued at $26,000 after buying an additional 765 shares during the period. KBC Group NV lifted its stake in Chemours by 38.2% during 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. EMC Capital Management grew its stake in shares of Chemours by 74.6% in the 4th quarter. EMC Capital Management now owns 9,534 shares of the specialty chemicals company's stock valued at $161,000 after purchasing an additional 4,073 shares during the period. Matrix Trust Co raised its holdings in shares of Chemours by 715.7% in the 4th quarter. Matrix Trust Co now owns 9,952 shares of the specialty chemicals company's stock worth $168,000 after buying an additional 8,732 shares in the last quarter. Finally, Entropy Technologies LP acquired a new stake in shares of Chemours in the 4th quarter valued at $266,000. 76.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on CC. Truist Financial initiated coverage on Chemours in a research note on Tuesday, January 28th. They issued a "buy" rating and a $27.00 price objective on the stock. Mizuho raised shares of Chemours from a "neutral" rating to an "outperform" rating and set a $19.00 price target for the company in a research note on Thursday, March 27th. Barclays dropped their target price on shares of Chemours from $19.00 to $16.00 and set an "equal weight" rating for the company in a research report on Tuesday. Morgan Stanley reduced 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. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $25.00 price objective on shares of Chemours in a report on Thursday, December 12th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.56.

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Chemours Stock Up 0.2 %

CC stock traded up $0.03 during trading hours on Wednesday, reaching $12.99. 2,766,700 shares of the stock were exchanged, compared to its average volume of 2,626,363. The company has a market cap of $1.94 billion, a price-to-earnings ratio of 22.79 and a beta of 2.00. The firm's 50-day moving average is $16.15 and its 200-day moving average is $18.15. The Chemours Company has a 12 month low of $12.65 and a 12 month high of $29.21. The company has a debt-to-equity ratio of 6.70, a current ratio of 1.68 and a quick ratio of 0.92.

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

Chemours Dividend Announcement

The business also recently disclosed 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 7.70%. The ex-dividend date of this dividend was Friday, February 28th. Chemours's payout ratio is presently 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.