First Citizens Bank & Trust Co. Purchases New Shares in The Chemours Company $CC

First Citizens Bank & Trust Co. acquired a new stake in shares of The Chemours Company (NYSE:CC) during the 1st quarter, HoldingsChannel reports. The fund acquired 36,795 shares of the specialty chemicals company’s stock, valued at approximately $811,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cooper Creek Partners Management LLC acquired a new position in shares of Chemours during the third quarter valued at approximately $63,103,000. Scopia Capital Management LP raised its holdings in Chemours by 71.7% in the 2nd quarter. Scopia Capital Management LP now owns 3,355,261 shares of the specialty chemicals company’s stock valued at $38,418,000 after acquiring an additional 1,401,539 shares during the last quarter. State Street Corp lifted its stake in Chemours by 22.7% in the 2nd quarter. State Street Corp now owns 6,114,328 shares of the specialty chemicals company’s stock worth $70,009,000 after purchasing an additional 1,131,682 shares in the last quarter. Sona Asset Management US LLC boosted its holdings in shares of Chemours by 176.9% during the 4th quarter. Sona Asset Management US LLC now owns 1,651,275 shares of the specialty chemicals company’s stock worth $19,469,000 after purchasing an additional 1,055,000 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Chemours by 36.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,701,294 shares of the specialty chemicals company’s stock valued at $43,638,000 after purchasing an additional 996,012 shares in the last quarter. 76.26% of the stock is owned by hedge funds and other institutional investors.

Chemours Stock Performance

NYSE:CC opened at $17.50 on Friday. The Chemours Company has a 52 week low of $10.44 and a 52 week high of $28.67. The company has a fifty day simple moving average of $20.47 and a two-hundred day simple moving average of $19.89. The company has a quick ratio of 0.87, a current ratio of 1.82 and a debt-to-equity ratio of 18.98. The company has a market cap of $2.63 billion, a price-to-earnings ratio of -6.63 and a beta of 1.41.

Chemours (NYSE:CC) last released its earnings results on Tuesday, May 5th. The specialty chemicals company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.10. Chemours had a positive return on equity of 52.49% and a negative net margin of 6.82%.The firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the business posted $0.13 earnings per share. Chemours’s revenue was up 1.0% compared to the same quarter last year. As a group, equities analysts anticipate that The Chemours Company will post 1.18 earnings per share for the current fiscal year.

Chemours Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Sunday, May 17th were given a dividend of $0.0875 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 2.0%. Chemours’s payout ratio is currently -13.26%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CC shares. Truist Financial boosted their price objective on Chemours from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Weiss Ratings reissued a “sell (d)” rating on shares of Chemours in a research note on Friday, July 17th. Royal Bank Of Canada boosted their price objective on shares of Chemours from $26.00 to $29.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Morgan Stanley increased their price objective on shares of Chemours from $17.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Finally, Zacks Research upgraded Chemours from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Chemours currently has an average rating of “Moderate Buy” and a consensus target price of $24.10.

Chemours Company Profile

Chemours Company, established in 2015 as a spin-off from E. I. du Pont de Nemours and Company, is a global chemistry organization headquartered in Wilmington, Delaware. Since its formation, Chemours has focused on delivering performance chemicals that help customers lower their carbon footprint, increase energy efficiency and conserve water. The company operates with a commitment to safety, environmental stewardship and innovation.

Chemours’ principal business activities are organized into three core segments.