Sunbelt Securities Inc. Grows Position in The Chemours Company (NYSE:CC)

Sunbelt Securities Inc. raised its position in The Chemours Company (NYSE:CC) by 1,969.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,366 shares of the specialty chemicals company’s stock after acquiring an additional 1,300 shares during the quarter. Sunbelt Securities Inc.’s holdings in Chemours were worth $36,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Deutsche Bank AG increased its stake in Chemours by 4,407.9% in the third 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. Massachusetts Financial Services Co. MA grew its position in shares of Chemours by 50.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,763,368 shares of the specialty chemicals company’s stock valued at $150,237,000 after buying an additional 1,602,628 shares during the last quarter. Norges Bank acquired a new stake in Chemours during the 4th quarter worth $39,171,000. Tudor Investment Corp Et Al lifted its position in Chemours by 10,530.9% in the third quarter. Tudor Investment Corp Et Al now owns 219,049 shares of the specialty chemicals company’s stock valued at $6,144,000 after acquiring an additional 221,149 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in Chemours in the fourth quarter valued at $4,711,000. Institutional investors and hedge funds own 76.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CC shares. Mizuho initiated coverage on Chemours in a report on Friday, June 7th. They issued a “neutral” rating and a $25.00 target price for the company. 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 research note on Tuesday, April 9th. Barclays dropped their price objective on shares of Chemours from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 2nd. Finally, UBS Group increased their target price on shares of Chemours from $21.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $30.13.

Chemours Price Performance

Shares of NYSE:CC opened at $22.57 on Monday. The company has a quick ratio of 0.99, a current ratio of 1.61 and a debt-to-equity ratio of 5.26. The company has a 50-day moving average price of $25.86 and a 200 day moving average price of $27.68. The Chemours Company has a 52 week low of $15.10 and a 52 week high of $39.05. The company has a market cap of $3.36 billion, a P/E ratio of -10.40 and a beta of 1.82.

Chemours (NYSE:CC) last issued its earnings results on Tuesday, April 30th. The specialty chemicals company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.25 by $0.07. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.35 billion. Chemours had a negative net margin of 5.51% and a positive return on equity of 46.67%. The business’s revenue was down 12.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.98 EPS. Research analysts predict that The Chemours Company will post 1.88 earnings per share for the current year.

Chemours Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Wednesday, May 15th were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, May 14th. This represents a $1.00 annualized dividend and a yield of 4.43%. Chemours’s dividend payout ratio is presently -46.08%.

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.