Peregrine Capital Management LLC Purchases New Stake in The Chemours Company (NYSE:CC)

Peregrine Capital Management LLC purchased a new stake in shares of The Chemours Company (NYSE:CC) in the fourth quarter, Holdings Channel reports. The firm purchased 339,138 shares of the specialty chemicals company’s stock, valued at approximately $5,731,000.

Several other institutional investors have also recently bought and sold shares of the business. Vision One Management Partners LP bought a new position in shares of Chemours in the third quarter valued at approximately $28,252,000. Strategic Financial Concepts LLC bought a new position in Chemours during the 4th quarter valued at $357,000. Two Sigma Advisers LP boosted 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 acquiring an additional 43,200 shares during the last quarter. Entropy Technologies LP bought a new stake in shares of Chemours in the 4th quarter worth $266,000. Finally, Twelve Points Wealth Management LLC raised its holdings in shares of Chemours by 42.8% in the fourth quarter. Twelve Points Wealth Management LLC now owns 78,325 shares of the specialty chemicals company’s stock valued at $1,324,000 after purchasing an additional 23,490 shares during the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Mizuho reduced their price objective on shares of Chemours from $22.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Truist Financial began coverage on Chemours in a report on Tuesday, January 28th. They issued a “buy” rating and a $27.00 target price for the company. Barclays lifted their price target on Chemours from $21.00 to $23.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. The Goldman Sachs Group reduced their price objective on Chemours from $24.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $25.00 target price on shares of Chemours in a research report on Thursday, December 12th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Chemours currently has a consensus rating of “Hold” and an average target price of $24.11.

Chemours Price Performance

Shares of NYSE CC opened at $17.49 on Wednesday. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of 34.98 and a beta of 1.81. The stock has a fifty day simple moving average of $18.21 and a two-hundred day simple moving average of $18.95. The company has a current ratio of 1.73, a quick ratio of 0.92 and a debt-to-equity ratio of 6.05. The Chemours Company has a 1-year low of $15.10 and a 1-year high of $29.83.

Chemours (NYSE:CC) last posted its quarterly earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.01. Chemours had a return on equity of 29.48% and a net margin of 1.34%. Analysts anticipate that The Chemours Company will post 1.21 earnings per share for the current year.

Chemours Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 5.72%. The ex-dividend date of this dividend is Friday, February 28th. Chemours’s dividend payout ratio (DPR) is currently 200.00%.

Chemours Company 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.