Victory Capital Management Inc. Acquires 7,052 Shares of The Chemours Company (NYSE:CC)

Victory Capital Management Inc. increased its holdings in shares of The Chemours Company (NYSE:CC) by 6.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 110,311 shares of the specialty chemicals company’s stock after purchasing an additional 7,052 shares during the quarter. Victory Capital Management Inc. owned 0.07% of Chemours worth $1,864,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. GAMMA Investing LLC boosted its holdings in Chemours by 99.7% in the fourth quarter. GAMMA Investing LLC now owns 1,532 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 765 shares during the last quarter. Truvestments Capital LLC bought a new position in shares of Chemours during the 3rd quarter valued at $35,000. Brooklyn Investment Group purchased a new position in shares of Chemours in the 3rd quarter worth $37,000. Prospera Private Wealth LLC purchased a new position in shares of Chemours in the 3rd quarter worth $75,000. Finally, KBC Group NV grew its holdings in shares of Chemours by 19.5% in the third quarter. KBC Group NV now owns 4,468 shares of the specialty chemicals company’s stock worth $91,000 after acquiring an additional 728 shares during the period. 76.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Morgan Stanley lowered their target price on Chemours from $25.00 to $22.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. The Goldman Sachs Group lowered their price objective on shares of Chemours from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Royal Bank of Canada restated an “outperform” rating and set a $25.00 target price on shares of Chemours in a research report on Thursday, December 12th. Truist Financial started coverage on shares of Chemours in a research report on Tuesday, January 28th. They issued a “buy” rating and a $27.00 price target on the stock. Finally, BMO Capital Markets cut their price objective on shares of Chemours from $34.00 to $27.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Chemours presently has a consensus rating of “Hold” and an average price target of $23.11.

Chemours Price Performance

Shares of Chemours stock opened at $14.59 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 1.68 and a debt-to-equity ratio of 6.70. The Chemours Company has a 52 week low of $13.09 and a 52 week high of $29.21. The stock’s 50-day simple moving average is $17.17 and its 200-day simple moving average is $18.45. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of 25.60 and a beta of 2.00.

Chemours (NYSE:CC) last announced its quarterly earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.11 earnings per share for the quarter, topping 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 company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.37 billion. As a group, 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 paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 6.85%. The ex-dividend date of this dividend was Friday, February 28th. Chemours’s payout ratio is 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.