Cerity Partners LLC Acquires New Position in The Chemours Company (NYSE:CC)

Cerity Partners LLC acquired a new stake in The Chemours Company (NYSE:CC) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 70,695 shares of the specialty chemicals company’s stock, valued at approximately $2,229,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Deutsche Bank AG raised its position in shares of Chemours by 4,407.9% in the 3rd quarter. Deutsche Bank AG now owns 1,759,419 shares of the specialty chemicals company’s stock valued at $49,352,000 after purchasing an additional 1,720,389 shares during the last quarter. Anchor Investment Management LLC acquired a new position in Chemours in the 4th quarter worth approximately $56,000. Assenagon Asset Management S.A. acquired a new position in Chemours in the 4th quarter worth approximately $4,711,000. American Century Companies Inc. increased its holdings in Chemours by 0.7% in the 3rd quarter. American Century Companies Inc. now owns 1,459,463 shares of the specialty chemicals company’s stock worth $40,938,000 after buying an additional 10,075 shares during the period. Finally, Sherbrooke Park Advisers LLC acquired a new position in Chemours in the 3rd quarter worth approximately $1,044,000. 76.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CC has been the topic of several research reports. BMO Capital Markets upgraded shares of Chemours from an “underperform” rating to an “outperform” rating and increased their price target for the stock from $19.00 to $34.00 in a report on Tuesday, April 9th. UBS Group increased their price target on shares of Chemours from $21.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Finally, Barclays cut their price target on shares of Chemours from $32.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 2nd. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $30.89.

Chemours Price Performance

Shares of NYSE CC opened at $25.91 on Friday. The stock has a market capitalization of $3.86 billion, a price-to-earnings ratio of -16.72 and a beta of 2.00. The Chemours Company has a 12 month low of $15.10 and a 12 month high of $39.05. The firm’s 50 day simple moving average is $26.90 and its 200-day simple moving average is $27.79. The company has a debt-to-equity ratio of 5.40, a current ratio of 1.54 and a quick ratio of 1.00.

Chemours (NYSE:CC) last issued its quarterly earnings data on Wednesday, March 27th. The specialty chemicals company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Chemours had a negative net margin of 3.80% and a positive return on equity of 51.73%. Analysts expect that The Chemours Company will post 2.23 EPS for the current year.

Chemours Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, February 26th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.00 dividend on an annualized basis and a yield of 3.86%. Chemours’s dividend payout ratio is currently -64.52%.

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.