The Chemours Company (NYSE:CC) Shares Acquired by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. lifted its stake in The Chemours Company (NYSE:CC) by 90.9% in the 4th quarter, Holdings Channel reports. The firm owned 935,031 shares of the specialty chemicals company’s stock after purchasing an additional 445,335 shares during the quarter. Balyasny Asset Management L.P.’s holdings in Chemours were worth $15,802,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Bayesian Capital Management LP purchased a new stake in shares of Chemours during the 4th quarter worth approximately $887,000. BNP Paribas Financial Markets raised its holdings in Chemours by 11.2% during the fourth quarter. BNP Paribas Financial Markets now owns 14,688 shares of the specialty chemicals company’s stock worth $248,000 after purchasing an additional 1,481 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Chemours by 23.8% during the fourth quarter. Ameriprise Financial Inc. now owns 4,373,172 shares of the specialty chemicals company’s stock worth $73,907,000 after purchasing an additional 839,849 shares in the last quarter. Algert Global LLC purchased a new position in shares of Chemours in the fourth quarter valued at $3,147,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in shares of Chemours during the 4th quarter worth $301,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Chemours Stock Down 9.2 %

Shares of NYSE:CC opened at $10.99 on Thursday. The company has a current ratio of 1.68, a quick ratio of 0.92 and a debt-to-equity ratio of 6.70. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of 19.28 and a beta of 1.76. The stock’s 50-day moving average price is $12.65 and its two-hundred day moving average price is $16.64. The Chemours Company has a 12-month low of $9.33 and a 12-month high of $29.21.

Chemours (NYSE:CC) last released its earnings results on Tuesday, May 6th. The specialty chemicals company reported $0.13 earnings per share (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 analyst estimates of $1.36 billion. During the same period in the prior year, the business posted $0.32 earnings per share. Chemours’s revenue was up .4% on a year-over-year basis. On average, research analysts forecast that The Chemours Company will post 2.03 EPS for the current year.

Chemours Announces Dividend

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

Analyst Upgrades and Downgrades

CC has been the subject of several recent research reports. Truist Financial dropped their target price on shares of Chemours from $27.00 to $22.00 and set a “buy” rating for the company in a report on Monday, April 14th. Morgan Stanley cut their price objective on Chemours from $25.00 to $22.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Barclays lowered their target price on Chemours from $19.00 to $16.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 1st. Mizuho set a $15.00 price target on Chemours in a report on Tuesday, April 15th. Finally, UBS Group decreased their price objective on Chemours from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $20.33.

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.