SIR Capital Management L.P. Has $18.23 Million Stake in The Chemours Company (NYSE:CC)

SIR Capital Management L.P. increased its stake in The Chemours Company (NYSE:CC - Free Report) by 18.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,078,566 shares of the specialty chemicals company's stock after purchasing an additional 165,002 shares during the period. Chemours makes up 1.9% of SIR Capital Management L.P.'s holdings, making the stock its 17th largest position. SIR Capital Management L.P. owned approximately 0.72% of Chemours worth $18,228,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CC. GAMMA Investing LLC increased its stake in Chemours by 99.7% in the 4th quarter. GAMMA Investing LLC now owns 1,532 shares of the specialty chemicals company's stock valued at $26,000 after buying an additional 765 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Chemours by 100.4% in the 4th 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 in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Chemours in the fourth quarter valued at about $48,000. Itau Unibanco Holding S.A. raised its holdings 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 acquiring an additional 1,003 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Chemours in the fourth quarter valued at approximately $91,000. 76.26% of the stock is owned by institutional investors and hedge funds.

Chemours Stock Performance

Shares of NYSE CC traded up $0.02 during trading hours on Monday, reaching $11.19. 5,777,070 shares of the stock were exchanged, compared to its average volume of 2,047,280. The stock's fifty day simple moving average is $12.26 and its 200 day simple moving average is $16.22. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 19.63 and a beta of 1.76. The Chemours Company has a 52 week low of $9.33 and a 52 week high of $28.96. The company has a debt-to-equity ratio of 6.70, a quick ratio of 0.92 and a current ratio of 1.68.

Chemours (NYSE:CC - Get Free Report) last posted its earnings results on Tuesday, May 6th. The specialty chemicals company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.19 by ($0.06). Chemours had a return on equity of 26.54% and a net margin of 1.51%. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period in the prior year, the business posted $0.32 EPS. The firm's quarterly revenue was up .4% compared to the same quarter last year. Sell-side analysts predict that The Chemours Company will post 2.03 EPS for the current year.

Chemours Announces Dividend

The firm also recently announced a dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, May 19th will be issued a dividend of $0.0875 per share. The ex-dividend date is Friday, May 16th. This represents a dividend yield of 3.17%. Chemours's dividend payout ratio is presently 175.00%.

Analyst Ratings Changes

Several research firms have recently commented on CC. StockNews.com downgraded Chemours from a "hold" rating to a "sell" rating in a report on Thursday, May 8th. BMO Capital Markets decreased their price objective 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. The Goldman Sachs Group lowered their price objective on shares of Chemours from $21.00 to $14.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 14th. Royal Bank of Canada cut their target price on shares of Chemours from $17.00 to $14.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. Finally, Truist Financial reduced their price target on Chemours from $27.00 to $22.00 and set a "buy" rating for the company in a report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Chemours has an average rating of "Hold" and an average target price of $17.56.

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.