Y Intercept Hong Kong Ltd acquired 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 disclosure with the SEC. The firm acquired 58,908 shares of the specialty chemicals company's stock, valued at approximately $996,000.
Other institutional investors have also recently made changes to their positions in the company. FMR LLC increased its stake in shares of Chemours by 3.5% in the 3rd quarter. FMR LLC now owns 18,142,202 shares of the specialty chemicals company's stock valued at $368,650,000 after purchasing an additional 618,361 shares in the last quarter. Geode Capital Management LLC grew its holdings in Chemours by 1.2% in the third quarter. Geode Capital Management LLC now owns 2,491,748 shares of the specialty chemicals company's stock valued at $50,646,000 after purchasing an additional 28,803 shares during the period. Appian Way Asset Management LP purchased a new stake in shares of Chemours in the third quarter valued at approximately $34,151,000. Vision One Management Partners LP acquired a new position in shares of Chemours during the 3rd quarter worth approximately $28,252,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Chemours by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,229,052 shares of the specialty chemicals company's stock valued at $24,974,000 after buying an additional 32,590 shares in the last quarter. 76.26% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
CC has been the subject of several recent analyst reports. Truist Financial initiated coverage on shares of Chemours in a report on Tuesday, January 28th. They issued a "buy" rating and a $27.00 price target for the company. Mizuho reduced their price target on shares of Chemours from $22.00 to $21.00 and set a "neutral" rating for the company in a research report on Tuesday, January 7th. BMO Capital Markets lowered their price objective on Chemours from $34.00 to $27.00 and set an "outperform" rating on the stock in a report on Wednesday, February 19th. Royal Bank of Canada reiterated an "outperform" rating and set a $25.00 price objective on shares of Chemours in a research note on Thursday, December 12th. Finally, 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. 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, the stock presently has a consensus rating of "Hold" and a consensus price target of $23.11.
Check Out Our Latest Stock Report on Chemours
Chemours Trading Down 7.2 %
Chemours stock traded down $1.08 during trading on Monday, reaching $13.87. 2,347,605 shares of the company were exchanged, compared to its average volume of 1,539,162. The company has a debt-to-equity ratio of 6.70, a current ratio of 1.68 and a quick ratio of 0.92. The stock's 50 day simple moving average is $17.86 and its two-hundred day simple moving average is $18.83. The company has a market capitalization of $2.07 billion, a P/E ratio of 24.33 and a beta of 1.81. The Chemours Company has a 52-week low of $13.87 and a 52-week high of $29.21.
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 for the quarter, beating 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 firm had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.37 billion. On average, equities research 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 declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.21%. Chemours's dividend payout ratio is currently 175.44%.
Chemours Company Profile
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Free Report)
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.
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