Bayesian Capital Management LP Takes Position in The Chemours Company (NYSE:CC)

Bayesian Capital Management LP bought a new stake in The Chemours Company (NYSE:CC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 52,510 shares of the specialty chemicals company's stock, valued at approximately $887,000.

Several other hedge funds and other institutional investors have also bought and sold shares of CC. Norges Bank bought a new stake in shares of Chemours during the fourth quarter worth about $30,702,000. Bank of Montreal Can raised its position in Chemours by 1,496.4% in the fourth quarter. Bank of Montreal Can now owns 953,240 shares of the specialty chemicals company's stock worth $16,110,000 after acquiring an additional 893,530 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Chemours by 23.8% during the 4th quarter. Ameriprise Financial Inc. now owns 4,373,172 shares of the specialty chemicals company's stock worth $73,907,000 after purchasing an additional 839,849 shares during the last quarter. Invesco Ltd. grew its stake in shares of Chemours by 141.5% during the 4th quarter. Invesco Ltd. now owns 1,020,001 shares of the specialty chemicals company's stock worth $17,238,000 after acquiring an additional 597,638 shares during the period. Finally, Covalis Capital LLP bought a new stake in shares of Chemours in the fourth quarter valued at approximately $8,768,000. Institutional investors own 76.26% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CC. StockNews.com lowered shares of Chemours from a "hold" rating to a "sell" rating in a research report on Thursday. Barclays lowered their price objective on shares of Chemours from $19.00 to $16.00 and set an "equal weight" rating for the company in a report on Tuesday, April 1st. Royal Bank of Canada reduced their price objective on Chemours from $17.00 to $14.00 and set an "outperform" rating for the company in a research report on Thursday. Truist Financial decreased their target price on Chemours from $27.00 to $22.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Morgan Stanley reduced their price objective on Chemours from $25.00 to $22.00 and set an "equal weight" rating for the company in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $19.11.

Chemours Stock Down 1.1 %

NYSE CC traded down $0.12 during trading on Friday, hitting $11.12. The company's stock had a trading volume of 7,192,895 shares, compared to its average volume of 1,962,638. The business's 50 day simple moving average is $12.55 and its 200-day simple moving average is $16.52. The company has a market cap of $1.66 billion, a PE ratio of 19.51 and a beta of 1.76. The Chemours Company has a fifty-two week low of $9.33 and a fifty-two week high of $29.21. The company has a debt-to-equity ratio of 6.70, a current ratio of 1.68 and a quick ratio of 0.92.

Chemours (NYSE:CC - Get Free Report) last released its earnings results 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 company had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.36 billion. Chemours had a net margin of 1.51% and a return on equity of 26.54%. The company's revenue for the quarter was up .4% on a year-over-year basis. During the same quarter last year, the business posted $0.32 earnings per share. On average, equities analysts anticipate that The Chemours Company will post 2.03 EPS for the current fiscal year.

Chemours Announces Dividend

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

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.