Sprott Inc. Cuts Stake in The Chemours Company (NYSE:CC)

Sprott Inc. cut its holdings in shares of The Chemours Company (NYSE:CC) by 12.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,836 shares of the specialty chemicals company’s stock after selling 2,206 shares during the quarter. Sprott Inc.’s holdings in Chemours were worth $268,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Appian Way Asset Management LP purchased a new stake in shares of Chemours during the third quarter worth approximately $34,151,000. Vision One Management Partners LP acquired a new position in Chemours during the 3rd quarter worth approximately $28,252,000. Scopia Capital Management LP purchased a new stake in shares of Chemours in the 3rd quarter valued at approximately $13,623,000. FMR LLC raised its holdings in shares of Chemours by 3.5% in the 3rd quarter. FMR LLC now owns 18,142,202 shares of the specialty chemicals company’s stock valued at $368,650,000 after purchasing an additional 618,361 shares in the last quarter. Finally, Peregrine Capital Management LLC purchased a new stake in shares of Chemours during the 4th quarter worth $5,731,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Chemours Price Performance

Shares of NYSE CC opened at $16.00 on Thursday. The stock has a market cap of $2.39 billion, a P/E ratio of 28.07 and a beta of 1.81. The Chemours Company has a twelve month low of $14.94 and a twelve month high of $29.44. The stock has a 50 day moving average of $17.96 and a two-hundred day moving average of $18.87. The company has a current ratio of 1.68, a quick ratio of 0.92 and a debt-to-equity ratio of 6.70.

Chemours (NYSE:CC) last issued its quarterly earnings data 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. Chemours had a net margin of 1.51% and a return on equity of 26.54%. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.37 billion. On average, research analysts forecast that The Chemours Company will post 2.03 earnings per share for the current year.

Chemours Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a $0.25 dividend. The ex-dividend date is Friday, February 28th. This represents a $1.00 annualized dividend and a dividend yield of 6.25%. Chemours’s dividend payout ratio (DPR) is currently 175.44%.

Analyst Ratings Changes

Several equities analysts recently commented on CC shares. Truist Financial initiated coverage on Chemours in a report on Tuesday, January 28th. They issued a “buy” rating and a $27.00 target price on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $25.00 price objective on shares of Chemours in a report on Thursday, December 12th. Barclays cut their target price on Chemours from $23.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Monday. 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. Finally, 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 report on Tuesday, January 7th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $23.11.

About Chemours

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.