Ameriprise Financial Inc. Has $73.91 Million Stake in The Chemours Company (NYSE:CC)

Ameriprise Financial Inc. boosted its holdings in The Chemours Company (NYSE:CC) by 23.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,373,172 shares of the specialty chemicals company’s stock after acquiring an additional 839,849 shares during the quarter. Ameriprise Financial Inc.’s holdings in Chemours were worth $73,907,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Strategic Financial Concepts LLC acquired a new position in shares of Chemours in the 4th quarter valued at $357,000. Entropy Technologies LP acquired a new stake in shares of Chemours during the fourth quarter worth $266,000. Sei Investments Co. increased its holdings in Chemours by 779.5% in the fourth quarter. Sei Investments Co. now owns 174,555 shares of the specialty chemicals company’s stock valued at $2,950,000 after purchasing an additional 154,709 shares during the last quarter. Twelve Points Wealth Management LLC lifted its stake in 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 buying an additional 23,490 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new position in Chemours during the fourth quarter worth about $515,000. 76.26% of the stock is currently owned by institutional investors and hedge funds.

Chemours Stock Down 1.1 %

NYSE:CC opened at $11.12 on Friday. The company has a market cap of $1.66 billion, a PE ratio of 19.51 and a beta of 1.76. The stock has a 50-day simple moving average of $12.55 and a 200 day simple moving average of $16.54. The company has a debt-to-equity ratio of 6.70, a quick ratio of 0.92 and a current ratio of 1.68. The Chemours Company has a 52-week low of $9.33 and a 52-week high of $29.21.

Chemours (NYSE:CC) last posted its quarterly earnings data on Tuesday, May 6th. The specialty chemicals company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. Chemours had a net margin of 1.51% and a return on equity of 26.54%. Chemours’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter last year, the business earned $0.32 earnings per share. On average, sell-side analysts expect that The Chemours Company will post 2.03 EPS for the current fiscal year.

Chemours Dividend Announcement

The firm also recently disclosed 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 8.99%. Chemours’s dividend payout ratio is 500.00%.

Analysts Set New Price Targets

A number of analysts have recently commented on CC shares. StockNews.com cut Chemours from a “hold” rating to a “sell” rating in a research note on Thursday. Truist Financial lowered their target price on shares of Chemours from $27.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Barclays reduced their price target on shares of Chemours from $19.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 1st. UBS Group lowered their price objective on shares of Chemours from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Royal Bank of Canada reduced their target price on Chemours from $17.00 to $14.00 and set an “outperform” rating on the stock in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $19.11.

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.