Covestor Ltd Has $38,000 Stock Position in The Chemours Company (NYSE:CC)

Covestor Ltd reduced its holdings in The Chemours Company (NYSE:CC) by 48.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,237 shares of the specialty chemicals company’s stock after selling 2,144 shares during the period. Covestor Ltd’s holdings in Chemours were worth $38,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CC. Vanguard Group Inc. lifted its position in shares of Chemours by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 15,223,961 shares of the specialty chemicals company’s stock worth $257,285,000 after purchasing an additional 94,885 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Chemours by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,491,748 shares of the specialty chemicals company’s stock valued at $50,646,000 after buying an additional 28,803 shares during the period. Norges Bank purchased a new position in shares of Chemours during the 4th quarter valued at $30,702,000. American Century Companies Inc. increased its stake in shares of Chemours by 7.6% in the fourth quarter. American Century Companies Inc. now owns 1,625,019 shares of the specialty chemicals company’s stock worth $27,463,000 after acquiring an additional 115,436 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Chemours by 4.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,593,070 shares of the specialty chemicals company’s stock worth $26,923,000 after acquiring an additional 66,962 shares in the last quarter. 76.26% of the stock is currently owned by institutional investors and hedge funds.

Chemours Stock Performance

NYSE:CC opened at $11.13 on Wednesday. The firm has a market capitalization of $1.66 billion, a PE ratio of 19.52 and a beta of 1.84. The Chemours Company has a 1 year low of $9.33 and a 1 year high of $29.21. 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’s fifty day simple moving average is $14.25 and its 200 day simple moving average is $17.49.

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, beating the consensus estimate of $0.10 by $0.01. Chemours had a return on equity of 26.54% and a net margin of 1.51%. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.37 billion. On average, sell-side analysts anticipate that The Chemours Company will post 2.03 EPS 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 8.99%. Chemours’s payout ratio is 175.44%.

Analysts Set New Price Targets

CC has been the topic of several research reports. Barclays dropped their target price on Chemours from $19.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 1st. Morgan Stanley reduced their target price on shares of Chemours from $25.00 to $22.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Truist Financial dropped their price target on shares of Chemours from $27.00 to $22.00 and set a “buy” rating on the stock in a research note on Monday. BMO Capital Markets cut their price target on shares of Chemours from $34.00 to $27.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Finally, Mizuho set a $15.00 price objective on shares of Chemours in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Chemours currently has an average rating of “Moderate Buy” and a consensus price target of $21.56.

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.