Principal Financial Group Inc. Buys 399,097 Shares of The Chemours Company (NYSE:CC)

Principal Financial Group Inc. increased its holdings in The Chemours Company (NYSE:CC - Free Report) by 116.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 742,119 shares of the specialty chemicals company's stock after purchasing an additional 399,097 shares during the period. Principal Financial Group Inc. owned approximately 0.50% of Chemours worth $10,041,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Corient Private Wealth LLC lifted its stake in shares of Chemours by 4.7% in the 4th quarter. Corient Private Wealth LLC now owns 13,428 shares of the specialty chemicals company's stock valued at $227,000 after purchasing an additional 604 shares during the last quarter. HUB Investment Partners LLC raised its holdings in Chemours by 1.4% during the 4th quarter. HUB Investment Partners LLC now owns 58,250 shares of the specialty chemicals company's stock valued at $984,000 after buying an additional 821 shares during the period. UMB Bank n.a. lifted its position in Chemours by 73.9% in the first quarter. UMB Bank n.a. now owns 2,231 shares of the specialty chemicals company's stock worth $30,000 after buying an additional 948 shares during the last quarter. Itau Unibanco Holding S.A. boosted its stake in Chemours by 39.3% during the fourth quarter. Itau Unibanco Holding S.A. now owns 3,554 shares of the specialty chemicals company's stock worth $60,000 after buying an additional 1,003 shares during the period. Finally, Quadrant Capital Group LLC increased its position in Chemours by 100.4% during the fourth quarter. Quadrant Capital Group LLC now owns 2,234 shares of the specialty chemicals company's stock valued at $38,000 after acquiring an additional 1,119 shares during the last quarter. Institutional investors own 76.26% of the company's stock.

Chemours Trading Up 3.3%

Shares of NYSE CC traded up $0.44 during trading hours on Thursday, reaching $13.69. The stock had a trading volume of 2,710,492 shares, compared to its average volume of 2,561,500. The Chemours Company has a 52-week low of $9.13 and a 52-week high of $25.38. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of 68.43 and a beta of 1.65. The business's fifty day moving average price is $11.48 and its two-hundred day moving average price is $13.88. The company has a current ratio of 1.75, a quick ratio of 0.83 and a debt-to-equity ratio of 7.01.

Chemours (NYSE:CC - Get Free Report) last issued its earnings results on Tuesday, May 6th. The specialty chemicals company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.06). Chemours had a return on equity of 23.82% and a net margin of 0.54%. The firm 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 earnings per share. Chemours's quarterly revenue was up .4% compared to the same quarter last year. Analysts expect that The Chemours Company will post 2.03 EPS for the current fiscal year.

Chemours Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Monday, June 16th. Investors of record on Monday, May 19th were paid a $0.0875 dividend. This represents a yield of 3.17%. The ex-dividend date was Friday, May 16th. Chemours's dividend payout ratio (DPR) is presently 175.00%.

Analysts Set New Price Targets

CC has been the subject of several analyst reports. Wall Street Zen lowered shares of Chemours from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. 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 note on Monday, April 14th. Royal Bank Of Canada boosted their target price on Chemours from $14.00 to $15.00 and gave the company an "outperform" rating in a research report on Thursday, July 3rd. The Goldman Sachs Group reduced their price target on Chemours from $21.00 to $14.00 and set a "neutral" rating on the stock in a report on Wednesday, May 14th. Finally, Mizuho boosted their price objective on Chemours from $13.00 to $16.00 and gave the company an "outperform" rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $17.44.

Insider Activity

In other Chemours news, insider Damian Gumpel acquired 13,400 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were purchased at an average cost of $9.22 per share, for a total transaction of $123,548.00. Following the completion of the purchase, the insider owned 123,879 shares in the company, valued at approximately $1,142,164.38. This trade represents a 12.13% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Shane Hostetter acquired 4,450 shares of Chemours stock in a transaction that occurred on Monday, May 19th. The stock was acquired at an average cost of $11.28 per share, with a total value of $50,196.00. Following the purchase, the chief financial officer directly owned 59,694 shares of the company's stock, valued at $673,348.32. This represents a 8.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 25,672 shares of company stock worth $251,573. 0.47% of the stock is owned by company insiders.

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.