WINTON GROUP Ltd Invests $340,000 in The Chemours Company (NYSE:CC)

WINTON GROUP Ltd purchased a new position in shares of The Chemours Company (NYSE:CC) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 20,141 shares of the specialty chemicals company’s stock, valued at approximately $340,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Vision One Management Partners LP purchased a new stake in shares of Chemours during the 3rd quarter worth $28,252,000. FMR LLC boosted its holdings in Chemours by 3.5% during the third quarter. FMR LLC now owns 18,142,202 shares of the specialty chemicals company’s stock worth $368,650,000 after buying an additional 618,361 shares in the last quarter. Peregrine Capital Management LLC purchased a new stake in Chemours during the fourth quarter worth about $5,731,000. Channing Capital Management LLC acquired a new position in Chemours during the fourth quarter worth about $4,701,000. Finally, Cinctive Capital Management LP increased its holdings in Chemours by 577.1% in the third quarter. Cinctive Capital Management LP now owns 296,415 shares of the specialty chemicals company’s stock valued at $6,023,000 after buying an additional 252,640 shares in 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 recently weighed in on CC shares. Truist Financial assumed coverage on Chemours in a report on Tuesday, January 28th. They issued a “buy” rating and a $27.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $25.00 price target on shares of Chemours in a research report on Thursday, December 12th. Mizuho raised Chemours from a “neutral” rating to an “outperform” rating and set a $19.00 price target for the company in a research note on Thursday. Barclays lowered their price objective on shares of Chemours from $23.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Monday, February 24th. Finally, Morgan Stanley cut 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. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Chemours has a consensus rating of “Moderate Buy” and an average price target of $22.89.

Chemours Stock Down 4.0 %

Shares of NYSE CC opened at $13.73 on Monday. The firm’s 50 day moving average price is $16.41 and its 200 day moving average price is $18.21. 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 firm has a market cap of $2.05 billion, a P/E ratio of 24.08 and a beta of 2.00. The Chemours Company has a 1 year low of $13.09 and a 1 year high of $29.21.

Chemours (NYSE:CC) last announced its quarterly earnings data on Tuesday, February 18th. The specialty chemicals company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. Chemours had a return on equity of 26.54% and a net margin of 1.51%. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.37 billion. As a group, sell-side analysts anticipate that The Chemours Company will post 2.03 earnings per share for the current year.

Chemours Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.00 annualized dividend and a dividend yield of 7.29%. Chemours’s payout ratio is currently 175.44%.

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.