New Covenant Trust Company N.A. Invests $29,000 in The Chemours Company (NYSE:CC)

New Covenant Trust Company N.A. acquired a new position in The Chemours Company (NYSE:CC) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,096 shares of the specialty chemicals company’s stock, valued at approximately $29,000.

Several other hedge funds and other institutional investors have also bought and sold shares of CC. Raymond James Financial Services Advisors Inc. boosted its stake in Chemours by 12.2% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 29,431 shares of the specialty chemicals company’s stock worth $928,000 after buying an additional 3,206 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Chemours in the fourth quarter worth approximately $1,547,000. Venture Visionary Partners LLC purchased a new position in Chemours in the fourth quarter worth about $208,000. Vaughan Nelson Investment Management L.P. lifted its position in Chemours by 2.2% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,381,801 shares of the specialty chemicals company’s stock valued at $43,582,000 after purchasing an additional 29,475 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Chemours by 16.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 18,688 shares of the specialty chemicals company’s stock worth $589,000 after purchasing an additional 2,657 shares in the last quarter. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Chemours Price Performance

CC traded down $2.77 during trading on Friday, reaching $20.54. 5,317,334 shares of the stock were exchanged, compared to its average volume of 1,602,316. The business’s 50 day moving average price is $24.00 and its two-hundred day moving average price is $26.49. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of -9.06 and a beta of 1.80. The Chemours Company has a 1 year low of $15.10 and a 1 year high of $37.83. The company has a debt-to-equity ratio of 5.26, a current ratio of 1.61 and a quick ratio of 0.99.

Chemours (NYSE:CC) last issued its quarterly earnings results on Thursday, August 1st. The specialty chemicals company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.28). The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Chemours had a positive return on equity of 46.67% and a negative net margin of 5.51%. The company’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.10 EPS. As a group, equities research analysts anticipate that The Chemours Company will post 1.81 earnings per share for the current year.

Chemours Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Thursday, August 15th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.87%. The ex-dividend date of this dividend is Thursday, August 15th. Chemours’s dividend payout ratio (DPR) is -46.08%.

Analyst Ratings Changes

A number of analysts have issued reports on CC shares. UBS Group raised Chemours from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $28.00 to $30.00 in a research note on Tuesday, July 9th. Mizuho assumed coverage on shares of Chemours in a research note on Friday, June 7th. They issued a “neutral” rating and a $25.00 price objective for the company. Finally, BMO Capital Markets upgraded Chemours from an “underperform” rating to an “outperform” rating and increased their price target for the company from $19.00 to $34.00 in a research note on Tuesday, April 9th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $30.38.

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.