Swiss National Bank Acquires 2,800 Shares of The Chemours Company (NYSE:CC)

Swiss National Bank grew its holdings in shares of The Chemours Company (NYSE:CC) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 293,500 shares of the specialty chemicals company’s stock after buying an additional 2,800 shares during the period. Swiss National Bank owned 0.20% of Chemours worth $4,960,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Appian Way Asset Management LP purchased a new position in Chemours during the 3rd quarter valued at $34,151,000. Vision One Management Partners LP purchased a new position in shares of Chemours during the third quarter valued at about $28,252,000. Scopia Capital Management LP bought a new position in Chemours in the third quarter worth about $13,623,000. FMR LLC lifted its holdings in 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 buying an additional 618,361 shares during the period. Finally, Peregrine Capital Management LLC bought a new stake in Chemours during the 4th quarter valued at approximately $5,731,000. Institutional investors own 76.26% of the company’s stock.

Analyst Upgrades and Downgrades

CC has been the subject of a number of research analyst reports. Morgan Stanley lowered their target price on Chemours from $25.00 to $22.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. BMO Capital Markets dropped their target price on shares of 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 issued a $25.00 price target on shares of Chemours in a research note on Thursday, December 12th. Truist Financial assumed coverage on shares of Chemours in a research note on Tuesday, January 28th. They set a “buy” rating and a $27.00 price objective on the stock. Finally, The Goldman Sachs Group decreased their target price on shares of Chemours from $24.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Chemours has an average rating of “Hold” and a consensus price target of $23.11.

Chemours Price Performance

NYSE CC opened at $14.47 on Tuesday. The Chemours Company has a one year low of $13.09 and a one year high of $29.21. The stock has a 50-day moving average of $16.81 and a 200 day moving average of $18.30. The company has a debt-to-equity ratio of 6.70, a quick ratio of 0.92 and a current ratio of 1.68. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of 25.39 and a beta of 2.00.

Chemours (NYSE:CC) last released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $1.37 billion. On average, sell-side analysts forecast that The Chemours Company will post 2.03 EPS for the current year.

Chemours Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.25 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.00 annualized dividend and a yield of 6.91%. Chemours’s payout ratio is 175.44%.

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.