By otakuyassine3@gmail.com 
KLP Kapitalforvaltning AS purchased a new position in The Chemours Company (NYSE:CC – Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 30,500 shares of the specialty chemicals company’s stock, valued at approximately $515,000.
Other hedge funds have also recently modified their holdings of the company. Corient Private Wealth LLC boosted its position in shares of Chemours by 4.7% during the 4th quarter. Corient Private Wealth LLC now owns 13,428 shares of the specialty chemicals company’s stock valued at $227,000 after acquiring an additional 604 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Chemours by 99.7% during 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 in the last quarter. HUB Investment Partners LLC lifted its holdings in shares of Chemours by 1.4% in the 4th quarter. HUB Investment Partners LLC now owns 58,250 shares of the specialty chemicals company’s stock valued at $984,000 after acquiring an additional 821 shares during the last quarter. ARGA Investment Management LP grew its position in Chemours by 0.7% in the fourth quarter. ARGA Investment Management LP now owns 148,614 shares of the specialty chemicals company’s stock worth $2,512,000 after acquiring an additional 1,032 shares in the last quarter. Finally, Heritage Investors Management Corp increased its stake in Chemours by 1.1% during the fourth quarter. Heritage Investors Management Corp now owns 105,322 shares of the specialty chemicals company’s stock worth $1,780,000 after acquiring an additional 1,174 shares during the last quarter. Hedge funds and other institutional investors own 76.26% of the company’s stock.
Chemours Price Performance
CC opened at $11.42 on Friday. The company has a current ratio of 1.68, a quick ratio of 0.92 and a debt-to-equity ratio of 6.70. The business’s fifty day simple moving average is $15.85 and its 200-day simple moving average is $18.07. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of 20.03 and a beta of 1.84. The Chemours Company has a 12-month low of $11.34 and a 12-month high of $29.21.
Chemours (NYSE:CC – Get Free Report) last posted its earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.11 EPS 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 for the quarter, compared to the consensus estimate of $1.37 billion. On average, equities research analysts anticipate that The Chemours Company will post 2.03 earnings per share for the current fiscal year.
Chemours Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.00 dividend on an annualized basis and a yield of 8.76%. Chemours’s dividend payout ratio is currently 175.44%.
Wall Street Analyst Weigh In
CC has been the subject of a number of recent research reports. Truist Financial began coverage on Chemours in a research report on Tuesday, January 28th. They set a “buy” rating and a $27.00 target price 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. Morgan Stanley reduced their price objective on shares of Chemours from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $25.00 target price on shares of Chemours in a research note on Thursday, December 12th. Finally, Barclays decreased their price target on Chemours from $19.00 to $16.00 and set an “equal weight” rating for the company in a research note on Tuesday. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.56.
Check Out Our Latest Research Report on CC
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.
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