Advisors Asset Management Inc. Has $3.98 Million Position in The Chemours Company (NYSE:CC)

Advisors Asset Management Inc. lifted its stake in The Chemours Company (NYSE:CC - Free Report) by 146.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 235,238 shares of the specialty chemicals company's stock after purchasing an additional 139,836 shares during the period. Advisors Asset Management Inc. owned 0.16% of Chemours worth $3,976,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Appian Way Asset Management LP acquired a new position in shares of Chemours in the 3rd quarter valued at $34,151,000. Vision One Management Partners LP bought a new position in Chemours during the third quarter worth about $28,252,000. Scopia Capital Management LP acquired a new position in Chemours in the third quarter valued at about $13,623,000. FMR LLC increased its holdings in shares of Chemours by 3.5% in the third quarter. FMR LLC now owns 18,142,202 shares of the specialty chemicals company's stock worth $368,650,000 after acquiring an additional 618,361 shares in the last quarter. Finally, Peregrine Capital Management LLC acquired a new stake in shares of Chemours during the fourth quarter worth about $5,731,000. 76.26% of the stock is owned by institutional investors and hedge funds.

Chemours Stock Down 2.0 %

Shares of NYSE CC traded down $0.29 during trading hours on Tuesday, hitting $14.16. The company had a trading volume of 1,792,261 shares, compared to its average volume of 1,674,038. The stock has a market capitalization of $2.12 billion, a P/E ratio of 24.84 and a beta of 2.00. The Chemours Company has a 1-year low of $13.09 and a 1-year high of $29.21. The firm's 50 day moving average is $16.81 and its 200-day moving average is $18.30. The company has a quick ratio of 0.92, a current ratio of 1.68 and a debt-to-equity ratio of 6.70.

Remove Ads

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. Chemours had a return on equity of 26.54% and a net margin of 1.51%. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.37 billion. On average, analysts expect that The Chemours Company will post 2.03 earnings per share for the current fiscal year.

Chemours Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 7.06%. The ex-dividend date of this dividend was Friday, February 28th. Chemours's dividend payout ratio is 175.44%.

Analysts Set New Price Targets

A number of analysts recently issued reports on CC shares. Royal Bank of Canada reissued an "outperform" rating and set a $25.00 target price on shares of Chemours in a research note on Thursday, December 12th. Morgan Stanley dropped their price objective on shares of Chemours from $25.00 to $22.00 and set an "equal weight" rating on the stock in a report on Monday, January 13th. Truist Financial assumed coverage on Chemours in a report on Tuesday, January 28th. They set a "buy" rating and a $27.00 target price for the company. The Goldman Sachs Group cut their price target on Chemours from $24.00 to $21.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. Finally, Barclays dropped their target price on Chemours from $23.00 to $19.00 and set an "equal weight" rating on the stock in a research report on Monday, February 24th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $23.11.

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.