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

Dynamic Technology Lab Private Ltd bought a new position in shares of The Chemours Company (NYSE:CC) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 55,643 shares of the specialty chemicals company’s stock, valued at approximately $940,000.

Other hedge funds have also recently added to or reduced their stakes in the company. HighTower Advisors LLC raised its holdings in shares of Chemours by 10.1% in the 3rd quarter. HighTower Advisors LLC now owns 15,020 shares of the specialty chemicals company’s stock valued at $300,000 after purchasing an additional 1,384 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Chemours in the third quarter valued at $2,449,000. Two Sigma Advisers LP lifted its holdings in Chemours by 9.4% during the 3rd quarter. Two Sigma Advisers LP now owns 503,100 shares of the specialty chemicals company’s stock worth $10,223,000 after buying an additional 43,200 shares during the last quarter. Barclays PLC boosted its position in shares of Chemours by 28.4% during the 3rd quarter. Barclays PLC now owns 107,549 shares of the specialty chemicals company’s stock worth $2,185,000 after acquiring an additional 23,766 shares in the last quarter. Finally, M&T Bank Corp increased its holdings in shares of Chemours by 4.1% in the 3rd quarter. M&T Bank Corp now owns 510,343 shares of the specialty chemicals company’s stock valued at $10,370,000 after acquiring an additional 20,122 shares during the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.

Chemours Stock Performance

Shares of CC stock opened at $10.61 on Monday. The stock’s 50-day moving average price is $15.67 and its 200 day moving average price is $18.01. The company has a quick ratio of 0.92, a current ratio of 1.68 and a debt-to-equity ratio of 6.70. The stock has a market capitalization of $1.58 billion, a PE ratio of 18.61 and a beta of 1.84. The Chemours Company has a 52-week low of $10.12 and a 52-week high of $29.21.

Chemours (NYSE:CC) last released its quarterly 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 return on equity of 26.54% and a net margin of 1.51%. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.37 billion. As a group, equities research analysts forecast that The Chemours Company will post 2.03 EPS for the current year.

Chemours Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid 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 9.43%. Chemours’s dividend payout ratio (DPR) is 175.44%.

Analyst Upgrades and Downgrades

CC has been the subject of several recent analyst reports. Morgan Stanley decreased their target price on Chemours from $25.00 to $22.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. BMO Capital Markets reduced 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. Mizuho raised shares of Chemours from a “neutral” rating to an “outperform” rating and set a $19.00 target price on the stock in a research report on Thursday, March 27th. The Goldman Sachs Group reduced their price target on shares of Chemours from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Finally, Barclays dropped their price objective on Chemours from $19.00 to $16.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 1st. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Chemours has an average rating of “Moderate Buy” and an average target price of $22.56.

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.