Algert Global LLC Makes New Investment in The Chemours Company (NYSE:CC)

Algert Global LLC purchased a new stake in shares of The Chemours Company (NYSE:CC) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 186,190 shares of the specialty chemicals company’s stock, valued at approximately $3,147,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in CC. GAMMA Investing LLC lifted its holdings in 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 during the period. Quadrant Capital Group LLC boosted its holdings in Chemours by 100.4% in the fourth quarter. Quadrant Capital Group LLC now owns 2,234 shares of the specialty chemicals company’s stock valued at $38,000 after acquiring an additional 1,119 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in Chemours during the 4th quarter valued at approximately $48,000. Itau Unibanco Holding S.A. raised its holdings in Chemours by 39.3% during the 4th quarter. Itau Unibanco Holding S.A. now owns 3,554 shares of the specialty chemicals company’s stock worth $60,000 after purchasing an additional 1,003 shares during the last quarter. Finally, KBC Group NV boosted its stake in shares of Chemours by 38.2% in the 4th quarter. KBC Group NV now owns 6,176 shares of the specialty chemicals company’s stock valued at $104,000 after purchasing an additional 1,708 shares during the last quarter. 76.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on CC shares. Mizuho set a $15.00 price target on shares of Chemours in a research report on Tuesday, April 15th. 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 report on Wednesday, February 19th. Morgan Stanley cut their price target on Chemours from $25.00 to $22.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Truist Financial dropped their target price on shares of Chemours from $27.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Finally, Barclays reduced their price target on shares of Chemours from $19.00 to $16.00 and set an “equal weight” rating for the company in a report on Tuesday, April 1st. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.33.

Chemours Stock Performance

Shares of CC stock opened at $10.99 on Thursday. The stock has a fifty day moving average of $12.65 and a 200 day moving average of $16.64. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 19.28 and a beta of 1.76. 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 $9.33 and a 52 week high of $29.21.

Chemours (NYSE:CC) last released its earnings results on Tuesday, May 6th. The specialty chemicals company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.06). Chemours had a return on equity of 26.54% and a net margin of 1.51%. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period last year, the firm posted $0.32 earnings per share. The company’s revenue was up .4% compared to the same quarter last year. As a group, research analysts expect that The Chemours Company will post 2.03 earnings per share for the current year.

Chemours Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.00 annualized dividend and a dividend yield of 9.10%. Chemours’s dividend payout ratio (DPR) is 500.00%.

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.