CenterBook Partners LP Decreases Stock Position in The Chemours Company (NYSE:CC)

CenterBook Partners LP cut its holdings in The Chemours Company (NYSE:CC - Free Report) by 54.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 114,141 shares of the specialty chemicals company's stock after selling 135,066 shares during the period. CenterBook Partners LP owned 0.08% of Chemours worth $1,929,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Corient Private Wealth LLC lifted its position in shares of Chemours by 4.7% during the 4th quarter. Corient Private Wealth LLC now owns 13,428 shares of the specialty chemicals company's stock worth $227,000 after purchasing an additional 604 shares during the last quarter. GAMMA Investing LLC increased its holdings in Chemours by 99.7% during the fourth quarter. GAMMA Investing LLC now owns 1,532 shares of the specialty chemicals company's stock worth $26,000 after buying an additional 765 shares during the last quarter. HUB Investment Partners LLC grew its stake in shares of Chemours by 1.4% in the fourth quarter. HUB Investment Partners LLC now owns 58,250 shares of the specialty chemicals company's stock valued at $984,000 after acquiring an additional 821 shares in the last quarter. ARGA Investment Management LP grew its holdings in shares of Chemours by 0.7% during the 4th quarter. ARGA Investment Management LP now owns 148,614 shares of the specialty chemicals company's stock worth $2,512,000 after purchasing an additional 1,032 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its stake in shares of Chemours by 100.4% during the fourth quarter. Quadrant Capital Group LLC now owns 2,234 shares of the specialty chemicals company's stock worth $38,000 after buying an additional 1,119 shares during the last quarter. Hedge funds and other institutional investors own 76.26% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on CC shares. Morgan Stanley dropped their price objective on Chemours from $25.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Monday, January 13th. The Goldman Sachs Group reduced their price target on shares of Chemours from $24.00 to $21.00 and set a "neutral" rating for the company in a research report on Tuesday, January 7th. Truist Financial decreased their target price on shares of Chemours from $27.00 to $22.00 and set a "buy" rating on the stock in a research report on Monday. BMO Capital Markets dropped their target price on shares of Chemours from $34.00 to $27.00 and set an "outperform" rating on the stock in a report on Wednesday, February 19th. Finally, Mizuho set a $15.00 target price on Chemours in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $21.56.

Chemours Price Performance

Shares of CC stock traded down $0.03 during trading hours on Wednesday, hitting $11.08. The company had a trading volume of 308,750 shares, compared to its average volume of 2,735,540. The firm's fifty day moving average is $14.25 and its 200 day moving average is $17.49. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 19.44 and a beta of 1.84. The Chemours Company has a 12 month low of $9.33 and a 12 month high of $29.21. The company has a debt-to-equity ratio of 6.70, a quick ratio of 0.92 and a current ratio of 1.68.

Chemours (NYSE:CC - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The specialty chemicals company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.01. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.37 billion. Chemours had a net margin of 1.51% and a return on equity of 26.54%. On average, sell-side analysts predict that The Chemours Company will post 2.03 EPS for the current fiscal year.

Chemours Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.03%. The ex-dividend date was Friday, February 28th. Chemours's payout ratio is 175.44%.

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.