Massachusetts Financial Services Co. MA Acquires 66,962 Shares of The Chemours Company (NYSE:CC)

Massachusetts Financial Services Co. MA raised its holdings in The Chemours Company (NYSE:CC) by 4.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,593,070 shares of the specialty chemicals company’s stock after purchasing an additional 66,962 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.07% of Chemours worth $26,923,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. GAMMA Investing LLC raised its position in shares of Chemours by 99.7% in the fourth quarter. GAMMA Investing LLC now owns 1,532 shares of the specialty chemicals company’s stock valued at $26,000 after buying an additional 765 shares in the last quarter. KBC Group NV raised its holdings in 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 acquiring an additional 1,708 shares in the last quarter. EMC Capital Management lifted its position in shares of Chemours by 74.6% during the 4th quarter. EMC Capital Management now owns 9,534 shares of the specialty chemicals company’s stock valued at $161,000 after acquiring an additional 4,073 shares during the period. Matrix Trust Co grew its holdings in shares of Chemours by 715.7% during the 4th quarter. Matrix Trust Co now owns 9,952 shares of the specialty chemicals company’s stock worth $168,000 after purchasing an additional 8,732 shares in the last quarter. Finally, Larson Financial Group LLC bought a new position in shares of Chemours in the fourth quarter worth $205,000. Institutional investors and hedge funds own 76.26% of the company’s stock.

Wall Street Analysts Forecast Growth

CC has been the subject of several recent analyst reports. BMO Capital Markets cut their price objective on shares of Chemours from $34.00 to $27.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Truist Financial assumed coverage on shares of Chemours in a research report on Tuesday, January 28th. They set a “buy” rating and a $27.00 price target on the stock. Mizuho upgraded shares of Chemours from a “neutral” rating to an “outperform” rating and set a $19.00 price objective for the company in a research report on Thursday, March 27th. Barclays reduced 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. 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. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Chemours presently has an average rating of “Moderate Buy” and a consensus target price of $22.56.

Chemours Price Performance

Chemours stock opened at $10.61 on Monday. The stock has a 50-day moving average price of $15.67 and a two-hundred day moving average price of $18.01. The Chemours Company has a 12 month low of $10.12 and a 12 month high of $29.21. The company has a market capitalization of $1.58 billion, a PE ratio of 18.61 and a beta of 1.84. 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 posted its earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.11 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 business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.37 billion. Analysts expect that The Chemours Company will post 2.03 EPS for the current year.

Chemours Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 9.43%. The ex-dividend date was Friday, February 28th. Chemours’s dividend payout ratio is currently 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.