Norden Group LLC Buys New Position in The Chemours Company (NYSE:CC)

Norden Group LLC purchased a new position in The Chemours Company (NYSE:CC) during the 1st quarter, HoldingsChannel reports. The firm purchased 7,668 shares of the specialty chemicals company’s stock, valued at approximately $201,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. American Century Companies Inc. boosted its stake in shares of Chemours by 0.7% during the 3rd quarter. American Century Companies Inc. now owns 1,459,463 shares of the specialty chemicals company’s stock worth $40,938,000 after acquiring an additional 10,075 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in shares of Chemours by 89.7% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 52,103 shares of the specialty chemicals company’s stock valued at $1,462,000 after purchasing an additional 24,638 shares during the period. Anchor Investment Management LLC purchased a new position in Chemours in the 4th quarter worth about $56,000. Raymond James Financial Services Advisors Inc. raised its holdings in Chemours by 12.2% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 29,431 shares of the specialty chemicals company’s stock worth $928,000 after buying an additional 3,206 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new stake in Chemours during the fourth quarter valued at about $4,711,000. 76.26% of the stock is owned by institutional investors and hedge funds.

Chemours Stock Up 1.0 %

CC opened at $24.51 on Monday. The company has a market capitalization of $3.65 billion, a PE ratio of -11.29 and a beta of 1.80. The business has a 50-day moving average of $25.09 and a 200-day moving average of $27.09. The Chemours Company has a fifty-two week low of $15.10 and a fifty-two week high of $39.05. The company has a debt-to-equity ratio of 5.26, a current ratio of 1.61 and a quick ratio of 0.99.

Chemours (NYSE:CC) last posted its earnings results on Tuesday, April 30th. The specialty chemicals company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.07. Chemours had a negative net margin of 5.51% and a positive return on equity of 46.67%. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the previous year, the company earned $0.98 earnings per share. The company’s revenue was down 12.1% compared to the same quarter last year. Equities research analysts forecast that The Chemours Company will post 1.88 EPS for the current fiscal year.

Chemours Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Wednesday, May 15th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.08%. The ex-dividend date was Tuesday, May 14th. Chemours’s dividend payout ratio is currently -46.08%.

Analyst Upgrades and Downgrades

CC has been the subject of several research analyst reports. UBS Group upgraded shares of Chemours from a “neutral” rating to a “buy” rating and upped their price target for the company from $28.00 to $30.00 in a research report on Tuesday, July 9th. Barclays dropped their price target on Chemours from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 2nd. Mizuho began coverage on Chemours in a research report on Friday, June 7th. They set a “neutral” rating and a $25.00 price objective for the company. Finally, BMO Capital Markets upgraded Chemours from an “underperform” rating to an “outperform” rating and upped their target price for the company from $19.00 to $34.00 in a report on Tuesday, April 9th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $30.38.

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.