Channing Capital Management LLC Acquires New Holdings in The Chemours Company (NYSE:CC)

Channing Capital Management LLC acquired a new position in The Chemours Company (NYSE:CC) in the fourth quarter, Holdings Channel reports. The fund acquired 278,144 shares of the specialty chemicals company’s stock, valued at approximately $4,701,000.

Other hedge funds also recently bought and sold shares of the company. FMR LLC increased its holdings in shares of Chemours by 3.5% in the 3rd quarter. FMR LLC now owns 18,142,202 shares of the specialty chemicals company’s stock valued at $368,650,000 after acquiring an additional 618,361 shares during the period. Geode Capital Management LLC grew its stake in Chemours by 1.2% in the third quarter. Geode Capital Management LLC now owns 2,491,748 shares of the specialty chemicals company’s stock valued at $50,646,000 after purchasing an additional 28,803 shares during the last quarter. Appian Way Asset Management LP bought a new position in Chemours in the third quarter worth about $34,151,000. Vision One Management Partners LP purchased a new stake in shares of Chemours during the third quarter valued at about $28,252,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Chemours by 6.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,302,272 shares of the specialty chemicals company’s stock valued at $22,008,000 after buying an additional 73,220 shares in the last quarter. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Chemours Stock Performance

CC opened at $13.69 on Wednesday. The company has a current ratio of 1.68, a quick ratio of 0.92 and a debt-to-equity ratio of 6.70. The Chemours Company has a 12-month low of $13.09 and a 12-month high of $29.21. The firm has a 50 day moving average of $17.38 and a two-hundred day moving average of $18.59. The firm has a market capitalization of $2.05 billion, a PE ratio of 24.02 and a beta of 2.00.

Chemours (NYSE:CC) last posted its quarterly earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.11 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 analyst estimates of $1.37 billion. Chemours had a net margin of 1.51% and a return on equity of 26.54%. On average, analysts anticipate that The Chemours Company will post 2.03 EPS for the current year.

Chemours Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, February 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.30%. Chemours’s payout ratio is 175.44%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Morgan Stanley decreased 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 report on Monday, January 13th. The Goldman Sachs Group decreased their price objective on Chemours from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. BMO Capital Markets dropped their target price on Chemours from $34.00 to $27.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Royal Bank of Canada reiterated an “outperform” rating and issued a $25.00 price target on shares of Chemours in a research note on Thursday, December 12th. Finally, Mizuho dropped their price target on Chemours from $22.00 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $23.11.

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.