The Chemours Company $CC Shares Sold by Twelve Points Wealth Management LLC

Key Points

• Twelve Points Wealth Management cut its stake in The Chemours Company by 40.6%, selling 50,364 shares and now holding 73,609 shares worth about $868,000 per its latest 13F filing.
• A number of other institutions repositioned: SG Americas boosted its stake 478.4% to 236,236 shares, while Penn Capital and Hudson Bay initiated sizable new stakes (Penn ~ $10.3M); overall institutional ownership stands at 76.26%.
• Shares traded around $22.72 (up ~4%), with a $3.41B market cap; Chemours beat Q4 EPS estimates ($0.05 vs. $0.01), pays a quarterly dividend of $0.0875 ($0.35 annualized, ~1.5% yield), and carries a consensus "Hold" rating with a $20.40 target.

Twelve Points Wealth Management LLC decreased its holdings in shares of The Chemours Company (NYSE:CC - Free Report) by 40.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,609 shares of the specialty chemicals company's stock after selling 50,364 shares during the quarter. Twelve Points Wealth Management LLC's holdings in Chemours were worth $868,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Nisa Investment Advisors LLC grew its holdings in shares of Chemours by 5.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 60,932 shares of the specialty chemicals company's stock worth $718,000 after buying an additional 3,270 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Chemours by 478.4% during the fourth quarter. SG Americas Securities LLC now owns 236,236 shares of the specialty chemicals company's stock worth $2,785,000 after buying an additional 195,393 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Chemours by 57.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 20,691 shares of the specialty chemicals company's stock worth $244,000 after buying an additional 7,511 shares in the last quarter. Hudson Bay Capital Management LP purchased a new stake in shares of Chemours during the third quarter worth $1,925,000. Finally, Penn Capital Management Company LLC purchased a new stake in shares of Chemours during the third quarter worth $10,325,000. Hedge funds and other institutional investors own 76.26% of the company's stock.

Chemours Trading Up 4.0%

Shares of CC opened at $22.72 on Friday. The company has a current ratio of 1.78, a quick ratio of 0.85 and a debt-to-equity ratio of 16.33. The Chemours Company has a 12-month low of $9.13 and a 12-month high of $22.99. The firm has a 50-day moving average price of $19.24 and a 200 day moving average price of $15.46. The firm has a market capitalization of $3.41 billion, a P/E ratio of -9.16 and a beta of 1.41.

Chemours (NYSE:CC - Get Free Report) last announced its quarterly earnings data on Thursday, February 19th. The specialty chemicals company reported $0.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.01 by $0.04. Chemours had a negative net margin of 6.41% and a positive return on equity of 41.75%. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the prior year, the firm posted $0.09 earnings per share. Chemours's quarterly revenue was down 2.2% on a year-over-year basis. Sell-side analysts forecast that The Chemours Company will post 2.03 EPS for the current year.

Chemours Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were issued a $0.0875 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 1.5%. Chemours's dividend payout ratio is currently -14.11%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group upped their target price on shares of Chemours from $14.00 to $18.00 and gave the stock a "neutral" rating in a report on Wednesday, February 25th. Truist Financial upped their target price on shares of Chemours from $21.00 to $27.00 and gave the stock a "buy" rating in a report on Thursday. Jefferies Financial Group reaffirmed a "hold" rating and set a $17.00 target price on shares of Chemours in a report on Monday, February 23rd. BMO Capital Markets dropped their target price on shares of Chemours from $20.00 to $19.00 and set an "outperform" rating for the company in a report on Monday, February 23rd. Finally, Royal Bank Of Canada set a $26.00 target price on shares of Chemours and gave the stock an "outperform" rating in a report on Friday. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $20.40.

Chemours Profile

Chemours Company, established in 2015 as a spin-off from E. I. du Pont de Nemours and Company, is a global chemistry organization headquartered in Wilmington, Delaware. Since its formation, Chemours has focused on delivering performance chemicals that help customers lower their carbon footprint, increase energy efficiency and conserve water. The company operates with a commitment to safety, environmental stewardship and innovation.

Chemours' principal business activities are organized into three core segments.

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