Pinnacle Holdings LLC Makes New $1.09 Million Investment in The Chemours Company (NYSE:CC)

Pinnacle Holdings LLC purchased a new position in The Chemours Company (NYSE:CC - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 64,750 shares of the specialty chemicals company's stock, valued at approximately $1,094,000.

Other institutional investors have also added to or reduced their stakes in the company. Corient Private Wealth LLC lifted its stake 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 acquiring an additional 604 shares during the last quarter. GAMMA Investing LLC grew its stake in Chemours by 99.7% in the fourth quarter. GAMMA Investing LLC now owns 1,532 shares of the specialty chemicals company's stock valued at $26,000 after purchasing an additional 765 shares during the last quarter. HUB Investment Partners LLC lifted its position in shares of Chemours by 1.4% during the fourth 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 last quarter. ARGA Investment Management LP grew its position in shares of Chemours by 0.7% in the 4th quarter. ARGA Investment Management LP now owns 148,614 shares of the specialty chemicals company's stock worth $2,512,000 after buying an additional 1,032 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in Chemours by 100.4% in the fourth quarter. Quadrant Capital Group LLC now owns 2,234 shares of the specialty chemicals company's stock worth $38,000 after purchasing an additional 1,119 shares during the last quarter. 76.26% of the stock is owned by hedge funds and other institutional investors.

Chemours Price Performance

NYSE CC traded up $0.02 during mid-day trading on Monday, hitting $11.30. The stock had a trading volume of 587,353 shares, compared to its average volume of 1,816,924. The company has a 50 day simple moving average of $14.54 and a 200 day simple moving average of $17.60. The company has a quick ratio of 0.92, a current ratio of 1.68 and a debt-to-equity ratio of 6.70. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 19.82 and a beta of 1.84. The Chemours Company has a 52-week low of $9.33 and a 52-week high of $29.21.

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

Chemours Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 8.85%. The ex-dividend date of this dividend was Friday, February 28th. Chemours's dividend payout ratio is currently 175.44%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. The Goldman Sachs Group lowered their target price on shares of Chemours from $24.00 to $21.00 and set a "neutral" rating for the company in a research note on Tuesday, January 7th. Truist Financial dropped their price objective on shares of Chemours from $27.00 to $22.00 and set a "buy" rating on the stock in a report on Monday. BMO Capital Markets reduced their price target on Chemours from $34.00 to $27.00 and set an "outperform" rating for the company in a research report on Wednesday, February 19th. Morgan Stanley cut their target price on shares of Chemours from $25.00 to $22.00 and set an "equal weight" rating for the company in a research note on Monday, January 13th. Finally, Barclays lowered their price target on shares of Chemours from $19.00 to $16.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 1st. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $22.00.

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.