Bridgefront Capital LLC Takes $648,000 Position in The Chemours Company (NYSE:CC)

Bridgefront Capital LLC purchased a new stake in The Chemours Company (NYSE:CC - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 38,370 shares of the specialty chemicals company's stock, valued at approximately $648,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of CC. Vanguard Group Inc. raised its holdings in shares of Chemours by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 15,223,961 shares of the specialty chemicals company's stock valued at $257,285,000 after acquiring an additional 94,885 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Chemours by 23.8% during the fourth quarter. Ameriprise Financial Inc. now owns 4,373,172 shares of the specialty chemicals company's stock valued at $73,907,000 after purchasing an additional 839,849 shares in the last quarter. Norges Bank purchased a new position in Chemours during the fourth quarter valued at approximately $30,702,000. Dimensional Fund Advisors LP raised its stake in Chemours by 22.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,779,702 shares of the specialty chemicals company's stock worth $30,077,000 after buying an additional 328,414 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Chemours by 7.6% during the 4th quarter. American Century Companies Inc. now owns 1,625,019 shares of the specialty chemicals company's stock worth $27,463,000 after purchasing an additional 115,436 shares during the last quarter. Institutional investors own 76.26% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on CC shares. UBS Group cut their price target on shares of Chemours from $18.00 to $17.00 and set a "buy" rating on the stock in a report on Wednesday. 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 research report on Thursday. BMO Capital Markets dropped their price target on Chemours from $34.00 to $27.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 19th. Truist Financial decreased their price objective on shares of Chemours from $27.00 to $22.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Barclays lowered their target price on shares of Chemours from $19.00 to $16.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $19.11.

Chemours Stock Performance

Shares of CC stock traded down $0.12 on Friday, hitting $11.12. The company had a trading volume of 7,192,895 shares, compared to its average volume of 1,962,638. The firm has a market cap of $1.66 billion, a P/E ratio of 19.51 and a beta of 1.76. The Chemours Company has a twelve month low of $9.33 and a twelve month high of $29.21. The company has a 50-day moving average price of $12.55 and a 200-day moving average price of $16.52. The company has a quick ratio of 0.92, a current ratio of 1.68 and a debt-to-equity ratio of 6.70.

Chemours (NYSE:CC - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The specialty chemicals company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.06). Chemours had a return on equity of 26.54% and a net margin of 1.51%. The company had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.36 billion. During the same quarter in the prior year, the company posted $0.32 EPS. The company's revenue for the quarter was up .4% on a year-over-year basis. As a group, equities research analysts predict that The Chemours Company will post 2.03 earnings per share for the current fiscal year.

Chemours Dividend Announcement

The company also recently announced 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. This represents a $1.00 annualized dividend and a dividend yield of 8.99%. The ex-dividend date was Friday, February 28th. Chemours's payout ratio is currently 500.00%.

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.