Khrom Capital Management LLC Sells 1,159,331 Shares of The Chemours Company (NYSE:CC)

Khrom Capital Management LLC trimmed its holdings in The Chemours Company (NYSE:CC - Free Report) by 34.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,183,351 shares of the specialty chemicals company's stock after selling 1,159,331 shares during the quarter. Chemours accounts for 4.2% of Khrom Capital Management LLC's portfolio, making the stock its 10th largest holding. Khrom Capital Management LLC owned approximately 1.46% of Chemours worth $36,899,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank acquired a new position in Chemours in the 4th quarter valued at approximately $30,702,000. Bank of Montreal Can increased its position in shares of Chemours by 1,496.4% during the fourth quarter. Bank of Montreal Can now owns 953,240 shares of the specialty chemicals company's stock valued at $16,110,000 after purchasing an additional 893,530 shares during the period. Invesco Ltd. raised its stake in shares of Chemours by 141.5% in the fourth quarter. Invesco Ltd. now owns 1,020,001 shares of the specialty chemicals company's stock valued at $17,238,000 after purchasing an additional 597,638 shares in the last quarter. Covalis Capital LLP bought a new position in Chemours in the fourth quarter worth $8,768,000. Finally, Peregrine Capital Management LLC acquired a new stake in Chemours during the fourth quarter worth $5,731,000. Institutional investors and hedge funds own 76.26% of the company's stock.

Chemours Price Performance

Shares of CC traded down $0.08 on Friday, hitting $12.36. The company's stock had a trading volume of 1,658,033 shares, compared to its average volume of 1,868,506. The company has a 50 day moving average price of $13.30 and a 200 day moving average price of $17.05. 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 market capitalization of $1.85 billion, a PE ratio of 21.68 and a beta of 1.84. 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 posted its quarterly earnings data on Tuesday, February 18th. The specialty chemicals company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.01. Chemours had a return on equity of 26.54% and a net margin of 1.51%. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.37 billion. On average, research analysts anticipate that The Chemours Company will post 2.03 earnings per share for the current fiscal year.

Chemours Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.09%. The ex-dividend date of this dividend was Friday, February 28th. Chemours's payout ratio is presently 175.44%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CC shares. Truist Financial dropped 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. BMO Capital Markets dropped their price target on shares of Chemours from $34.00 to $27.00 and set an "outperform" rating for the company in a research report on Wednesday, February 19th. Barclays decreased their price objective on Chemours from $19.00 to $16.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 1st. The Goldman Sachs Group dropped their target price on Chemours from $24.00 to $21.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Finally, Morgan Stanley cut their target price 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. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $21.56.

Chemours Company 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.