Proficio Capital Partners LLC Invests $334,000 in The Chemours Company (NYSE:CC)

Proficio Capital Partners LLC bought a new stake in shares of The Chemours Company (NYSE:CC) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 19,790 shares of the specialty chemicals company’s stock, valued at approximately $334,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its position 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 buying an additional 765 shares in the last quarter. Truvestments Capital LLC purchased a new stake in Chemours in the 3rd quarter worth approximately $35,000. Brooklyn Investment Group bought a new stake in Chemours during the 3rd quarter worth approximately $37,000. KBC Group NV lifted its holdings in Chemours by 38.2% during the fourth quarter. KBC Group NV now owns 6,176 shares of the specialty chemicals company’s stock valued at $104,000 after purchasing an additional 1,708 shares in the last quarter. Finally, EMC Capital Management boosted its position in shares of Chemours by 74.6% in the fourth quarter. EMC Capital Management now owns 9,534 shares of the specialty chemicals company’s stock worth $161,000 after purchasing an additional 4,073 shares during the period. 76.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Morgan Stanley lowered their target price on shares of Chemours from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Truist Financial assumed coverage on Chemours in a research report on Tuesday, January 28th. They issued a “buy” rating and a $27.00 price objective on the stock. The Goldman Sachs Group cut their target price on Chemours from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $25.00 price target on shares of Chemours in a report on Thursday, December 12th. Finally, Mizuho cut their price objective on shares of Chemours from $22.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Chemours has a consensus rating of “Hold” and a consensus target price of $23.11.

Chemours Trading Down 2.0 %

CC stock opened at $14.16 on Wednesday. The firm has a fifty day moving average price of $16.72 and a 200 day moving average price of $18.27. The Chemours Company has a fifty-two week low of $13.09 and a fifty-two week high of $29.21. The firm has a market cap of $2.12 billion, a PE ratio of 24.84 and a beta of 2.00. The company has a debt-to-equity ratio of 6.70, a quick ratio of 0.92 and a current ratio of 1.68.

Chemours (NYSE:CC) last issued its quarterly earnings data on Tuesday, February 18th. The specialty chemicals company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Chemours had a net margin of 1.51% and a return on equity of 26.54%. Sell-side 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 disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given 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 7.06%. Chemours’s dividend payout ratio (DPR) is presently 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.