Raymond James Financial Inc. Acquires Shares of 135,110 The Chemours Company (NYSE:CC)

Raymond James Financial Inc. purchased a new position in The Chemours Company (NYSE:CC) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 135,110 shares of the specialty chemicals company’s stock, valued at approximately $2,283,000. Raymond James Financial Inc. owned about 0.09% of Chemours as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CC. GAMMA Investing LLC grew 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 worth $26,000 after buying an additional 765 shares in the last quarter. KBC Group NV raised its position in Chemours by 38.2% during the 4th quarter. KBC Group NV now owns 6,176 shares of the specialty chemicals company’s stock worth $104,000 after buying an additional 1,708 shares during the last quarter. EMC Capital Management boosted its holdings in Chemours by 74.6% in the fourth quarter. EMC Capital Management now owns 9,534 shares of the specialty chemicals company’s stock valued at $161,000 after purchasing an additional 4,073 shares during the last quarter. Matrix Trust Co raised its position in Chemours by 715.7% during the fourth quarter. Matrix Trust Co now owns 9,952 shares of the specialty chemicals company’s stock valued at $168,000 after acquiring an additional 8,732 shares in the last quarter. Finally, HighTower Advisors LLC boosted its holdings in Chemours by 10.1% during the third quarter. HighTower Advisors LLC now owns 15,020 shares of the specialty chemicals company’s stock worth $300,000 after buying an additional 1,384 shares in the last quarter. 76.26% of the stock is currently owned by institutional investors.

Chemours Stock Performance

Shares of CC stock opened at $13.73 on Monday. The stock’s 50-day moving average price is $16.41 and its 200 day moving average price is $18.21. 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 stock has a market capitalization of $2.05 billion, a PE ratio of 24.08 and a beta of 2.00. The Chemours Company has a 52-week low of $13.09 and a 52-week high of $29.21.

Chemours (NYSE:CC) last posted its quarterly earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.11 earnings per share (EPS) 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 firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.37 billion. As a group, equities research 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 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 7.29%. Chemours’s payout ratio is 175.44%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CC. Mizuho upgraded Chemours from a “neutral” rating to an “outperform” rating and set a $19.00 target price on the stock in a research report on Thursday. The Goldman Sachs Group reduced their price objective on shares of Chemours from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Barclays decreased their target price on Chemours from $23.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Monday, February 24th. BMO Capital Markets lowered their target price on Chemours from $34.00 to $27.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $25.00 price target on shares of Chemours in a research note on Thursday, December 12th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Chemours presently has a consensus rating of “Moderate Buy” and an average price target of $22.89.

Chemours Company 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.