National Bank of Canada FI Buys 35,755 Shares of The Chemours Company (NYSE:CC)

National Bank of Canada FI raised its holdings in shares of The Chemours Company (NYSE:CC - Free Report) by 296.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,816 shares of the specialty chemicals company's stock after buying an additional 35,755 shares during the quarter. National Bank of Canada FI's holdings in Chemours were worth $1,520,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CC. Fruth Investment Management lifted its holdings in Chemours by 3.8% during the 4th quarter. Fruth Investment Management now owns 13,518 shares of the specialty chemicals company's stock worth $426,000 after buying an additional 500 shares in the last quarter. Mariner LLC boosted its stake in shares of Chemours by 1.8% during the third quarter. Mariner LLC now owns 28,104 shares of the specialty chemicals company's stock worth $788,000 after buying an additional 503 shares during the period. Amalgamated Bank lifted its holdings in shares of Chemours by 0.5% during the third quarter. Amalgamated Bank now owns 97,665 shares of the specialty chemicals company's stock worth $2,740,000 after purchasing an additional 526 shares during the period. Arizona State Retirement System increased its stake in shares of Chemours by 1.6% during the third quarter. Arizona State Retirement System now owns 42,469 shares of the specialty chemicals company's stock worth $1,191,000 after acquiring an additional 673 shares during the period. Finally, Invst LLC lifted its position in Chemours by 3.4% in the third quarter. Invst LLC now owns 23,060 shares of the specialty chemicals company's stock valued at $647,000 after purchasing an additional 754 shares during the period. 76.26% of the stock is currently owned by institutional investors and hedge funds.

Chemours Stock Up 0.6 %

Shares of CC stock traded up $0.18 during mid-day trading on Wednesday, reaching $29.14. 1,104,294 shares of the company were exchanged, compared to its average volume of 1,771,387. The company has a market capitalization of $4.34 billion, a P/E ratio of -13.43 and a beta of 1.99. The business's 50 day simple moving average is $27.21 and its 200 day simple moving average is $28.05. The company has a debt-to-equity ratio of 5.26, a quick ratio of 0.99 and a current ratio of 1.61. The Chemours Company has a fifty-two week low of $15.10 and a fifty-two week high of $39.05.

Chemours (NYSE:CC - Get Free Report) last issued its earnings results on Tuesday, April 30th. The specialty chemicals company reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.25 by $0.07. Chemours had a positive return on equity of 46.67% and a negative net margin of 5.51%. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the previous year, the firm posted $0.98 earnings per share. Chemours's quarterly revenue was down 12.1% compared to the same quarter last year. Research analysts predict that The Chemours Company will post 1.99 earnings per share for the current year.

Chemours Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.00 annualized dividend and a dividend yield of 3.43%. Chemours's dividend payout ratio is currently -46.08%.

Analysts Set New Price Targets

Several research analysts have weighed in on CC shares. BMO Capital Markets upgraded shares of Chemours from an "underperform" rating to an "outperform" rating and upped their target price for the stock from $19.00 to $34.00 in a research report on Tuesday, April 9th. UBS Group lifted their price objective on Chemours from $21.00 to $28.00 and gave the stock a "neutral" rating in a report on Tuesday, April 2nd. Finally, Barclays decreased their target price on Chemours from $32.00 to $30.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 2nd. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, Chemours has an average rating of "Hold" and a consensus target price of $31.63.

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.