Dynamic Technology Lab Private Ltd Takes Position in The Chemours Company (NYSE:CC)

Dynamic Technology Lab Private Ltd acquired a new position in shares of The Chemours Company (NYSE:CC) during the fourth quarter, HoldingsChannel reports. The fund acquired 55,643 shares of the specialty chemicals company’s stock, valued at approximately $940,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Corient Private Wealth LLC boosted its position in shares of Chemours by 4.7% in the 4th quarter. Corient Private Wealth LLC now owns 13,428 shares of the specialty chemicals company’s stock worth $227,000 after buying an additional 604 shares in the last quarter. GAMMA Investing LLC lifted its holdings 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 purchasing an additional 765 shares in the last quarter. HUB Investment Partners LLC grew its position in shares of Chemours by 1.4% in the fourth quarter. HUB Investment Partners LLC now owns 58,250 shares of the specialty chemicals company’s stock valued at $984,000 after purchasing an additional 821 shares during the last quarter. ARGA Investment Management LP increased its stake in shares of Chemours by 0.7% during the 4th quarter. ARGA Investment Management LP now owns 148,614 shares of the specialty chemicals company’s stock worth $2,512,000 after purchasing an additional 1,032 shares in the last quarter. Finally, Heritage Investors Management Corp raised its position in shares of Chemours by 1.1% during the 4th quarter. Heritage Investors Management Corp now owns 105,322 shares of the specialty chemicals company’s stock worth $1,780,000 after purchasing an additional 1,174 shares during the last quarter. 76.26% of the stock is currently owned by institutional investors and hedge funds.

Chemours Stock Down 7.1 %

Shares of Chemours stock opened at $10.61 on Monday. The company has a fifty day moving average price of $15.67 and a 200 day moving average price of $18.01. 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 Chemours Company has a twelve month low of $10.12 and a twelve month high of $29.21. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 18.61 and a beta of 1.84.

Chemours (NYSE:CC) last posted its quarterly earnings data on Tuesday, February 18th. The specialty chemicals company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.37 billion. Chemours had a net margin of 1.51% and a return on equity of 26.54%. Equities research analysts forecast that The Chemours Company will post 2.03 earnings per share for the current fiscal year.

Chemours Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.00 dividend on an annualized basis and a yield of 9.43%. Chemours’s payout ratio is currently 175.44%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CC. Barclays dropped their price target on Chemours from $19.00 to $16.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 1st. Mizuho upgraded 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. Truist Financial started coverage on shares of Chemours in a report on Tuesday, January 28th. They issued a “buy” rating and a $27.00 target price on the stock. Morgan Stanley cut their price objective on shares of Chemours from $25.00 to $22.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Finally, BMO Capital Markets decreased their target price on shares of Chemours from $34.00 to $27.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Four research 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 a consensus rating of “Moderate Buy” and a consensus target price of $22.56.

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.