The Chemours Company (NYSE:CC) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. lifted its stake in shares of The Chemours Company (NYSE:CC) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,223,961 shares of the specialty chemicals company’s stock after buying an additional 94,885 shares during the quarter. Vanguard Group Inc. owned approximately 10.19% of Chemours worth $257,285,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Strategic Financial Concepts LLC purchased a new stake in Chemours during the fourth quarter worth approximately $357,000. Vision One Management Partners LP purchased a new stake in shares of Chemours during the 3rd quarter worth approximately $28,252,000. Two Sigma Advisers LP boosted its holdings in shares of Chemours by 9.4% in the 3rd quarter. Two Sigma Advisers LP now owns 503,100 shares of the specialty chemicals company’s stock valued at $10,223,000 after buying an additional 43,200 shares in the last quarter. Entropy Technologies LP purchased a new position in shares of Chemours in the 4th quarter valued at $266,000. Finally, Twelve Points Wealth Management LLC raised its stake in Chemours by 42.8% during the 4th quarter. Twelve Points Wealth Management LLC now owns 78,325 shares of the specialty chemicals company’s stock worth $1,324,000 after acquiring an additional 23,490 shares in the last quarter. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Chemours Stock Performance

Shares of CC opened at $10.61 on Friday. The stock has a market capitalization of $1.58 billion, a P/E ratio of 18.61 and a beta of 1.84. 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 Chemours Company has a 1 year low of $10.12 and a 1 year high of $29.21. The company’s fifty day moving average is $15.67 and its two-hundred day moving average is $18.01.

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. On average, sell-side analysts predict that The Chemours Company will post 2.03 earnings per share for the current year.

Chemours Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.25 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.43%. Chemours’s dividend payout ratio (DPR) is presently 175.44%.

Analyst Upgrades and Downgrades

CC has been the topic of several research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $25.00 price objective on shares of Chemours in a report on Thursday, December 12th. Mizuho upgraded Chemours from a “neutral” rating to an “outperform” rating and set a $19.00 price target on the stock in a research note on Thursday, March 27th. Morgan Stanley reduced their price objective 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. The Goldman Sachs Group lowered their target price on shares of Chemours from $24.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Finally, 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 for the company. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Chemours has an average rating of “Moderate Buy” and an average price target of $22.56.

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.