Intech Investment Management LLC Increases Position in The Chemours Company (NYSE:CC)

Intech Investment Management LLC raised its holdings in shares of The Chemours Company (NYSE:CC) by 639.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 135,790 shares of the specialty chemicals company’s stock after purchasing an additional 117,415 shares during the quarter. Intech Investment Management LLC’s holdings in Chemours were worth $2,295,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of CC. Victory Capital Management Inc. boosted its position in shares of 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 during the period. Oppenheimer & Co. Inc. purchased a new position in shares of Chemours during the third quarter valued at approximately $285,000. KBC Group NV boosted its holdings in shares of Chemours by 19.5% in the third quarter. KBC Group NV now owns 4,468 shares of the specialty chemicals company’s stock valued at $91,000 after purchasing an additional 728 shares during the period. Quest Partners LLC boosted its holdings in shares of Chemours by 7,206.4% in the third quarter. Quest Partners LLC now owns 7,964 shares of the specialty chemicals company’s stock valued at $162,000 after purchasing an additional 7,855 shares during the period. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Chemours in the third quarter valued at approximately $75,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Analysts Set New Price Targets

CC has been the subject of a number of research reports. Mizuho lowered their price target on Chemours from $22.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. BMO Capital Markets lowered their price target on Chemours from $34.00 to $27.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. The Goldman Sachs Group lowered their price target on Chemours from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Barclays lowered their price target on Chemours from $23.00 to $19.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. Finally, Morgan Stanley lowered their price target on Chemours from $25.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $23.11.

Chemours Stock Down 0.6 %

Chemours stock opened at $14.67 on Friday. The business has a fifty day moving average of $16.96 and a two-hundred day moving average of $18.36. 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 firm has a market cap of $2.19 billion, a P/E ratio of 25.73 and a beta of 2.00. The Chemours Company has a twelve month low of $13.09 and a twelve month high of $29.21.

Chemours (NYSE:CC) last issued its quarterly earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.37 billion. Chemours had a return on equity of 26.54% and a net margin of 1.51%. On average, analysts forecast that The Chemours Company will post 2.03 earnings per share for the current fiscal year.

Chemours Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.82%. The ex-dividend date was Friday, February 28th. Chemours’s payout ratio 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.