19,790 Shares in The Chemours Company (NYSE:CC) Purchased by Proficio Capital Partners LLC

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

A number of other institutional investors have also recently added to or reduced their stakes in the stock. State of New Jersey Common Pension Fund D increased its position in Chemours by 39.1% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 101,670 shares of the specialty chemicals company’s stock worth $2,066,000 after purchasing an additional 28,591 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Chemours in the third quarter worth about $1,615,000. Victory Capital Management Inc. raised its stake in Chemours by 206.2% during the third quarter. Victory Capital Management Inc. now owns 103,259 shares of the specialty chemicals company’s stock valued at $2,098,000 after buying an additional 69,531 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Chemours during the third quarter valued at approximately $285,000. Finally, KBC Group NV grew its holdings in Chemours by 19.5% in the 3rd quarter. KBC Group NV now owns 4,468 shares of the specialty chemicals company’s stock worth $91,000 after buying an additional 728 shares in the last quarter. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Chemours Stock Up 1.8 %

Shares of NYSE CC opened at $13.69 on Wednesday. The business’s 50 day moving average is $17.38 and its two-hundred day moving average is $18.59. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of 24.02 and a beta of 2.00. 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.

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. The firm 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%. Research analysts predict that The Chemours Company will post 2.03 EPS for the current year.

Chemours Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.30%. The ex-dividend date is Friday, February 28th. Chemours’s dividend payout ratio is presently 175.44%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CC shares. Morgan Stanley lowered their price target on Chemours from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Barclays lowered their target price on shares of Chemours from $23.00 to $19.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. Mizuho cut their price objective on shares of Chemours from $22.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Royal Bank of Canada restated an “outperform” rating and set a $25.00 price objective on shares of Chemours in a research note on Thursday, December 12th. Finally, Truist Financial assumed coverage on shares of Chemours in a research report on Tuesday, January 28th. They set a “buy” rating and a $27.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Chemours presently has a consensus rating of “Hold” and an average target price of $23.11.

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.