Y Intercept Hong Kong Ltd Purchases New Shares in The Chemours Company (NYSE:CC)

Y Intercept Hong Kong Ltd purchased a new stake in The Chemours Company (NYSE:CC) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 58,908 shares of the specialty chemicals company’s stock, valued at approximately $996,000.

Several other institutional investors and hedge funds have also bought and sold shares of CC. Strategic Financial Concepts LLC bought a new position in shares of Chemours in the fourth quarter worth about $357,000. Vision One Management Partners LP acquired a new position in shares of Chemours in the third quarter valued at approximately $28,252,000. Two Sigma Advisers LP increased its stake in shares of Chemours by 9.4% in the third quarter. Two Sigma Advisers LP now owns 503,100 shares of the specialty chemicals company’s stock valued at $10,223,000 after buying an additional 43,200 shares during the period. Entropy Technologies LP acquired a new position in shares of Chemours in the fourth quarter valued at approximately $266,000. Finally, Twelve Points Wealth Management LLC increased its position in Chemours by 42.8% during the 4th 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 period. Institutional investors own 76.26% of the company’s stock.

Chemours Stock Down 5.0 %

CC stock opened at $15.19 on Friday. The firm has a market capitalization of $2.27 billion, a PE ratio of 26.66 and a beta of 1.81. 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 50-day simple moving average of $17.91 and a two-hundred day simple moving average of $18.84. The Chemours Company has a twelve month low of $14.94 and a twelve month high of $29.21.

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 analysts’ consensus estimates of $0.10 by $0.01. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.37 billion. Chemours had a return on equity of 26.54% and a net margin of 1.51%. On average, equities analysts predict that The Chemours Company will post 2.03 EPS for the current fiscal year.

Chemours Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.00 dividend on an annualized basis and a yield of 6.58%. Chemours’s payout ratio is 175.44%.

Wall Street Analyst Weigh In

CC has been the subject of a number of recent analyst reports. Morgan Stanley decreased 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 report on Monday, January 13th. Mizuho cut their target price on Chemours from $22.00 to $21.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Truist Financial began coverage on Chemours in a research note on Tuesday, January 28th. They set a “buy” rating and a $27.00 price objective on the stock. The Goldman Sachs Group dropped their price objective on Chemours from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $25.00 target price on shares of Chemours in a research note 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $23.11.

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.