Mackenzie Financial Corp Acquires 95,814 Shares of The Chemours Company (NYSE:CC)

Mackenzie Financial Corp raised its holdings in shares of The Chemours Company (NYSE:CC) by 22.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 526,848 shares of the specialty chemicals company’s stock after buying an additional 95,814 shares during the quarter. Mackenzie Financial Corp’s holdings in Chemours were worth $16,617,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. grew its position in Chemours by 29.0% in the first quarter. BlackRock Inc. now owns 18,075,740 shares of the specialty chemicals company’s stock worth $569,023,000 after acquiring an additional 4,060,250 shares in the last quarter. Deutsche Bank AG lifted its stake in shares of Chemours by 4,407.9% in the 3rd quarter. Deutsche Bank AG now owns 1,759,419 shares of the specialty chemicals company’s stock valued at $49,352,000 after purchasing an additional 1,720,389 shares during the last quarter. Norges Bank purchased a new position in shares of Chemours in the 4th quarter worth approximately $47,013,000. Balyasny Asset Management LLC increased its position in shares of Chemours by 1,845.6% during the 3rd quarter. Balyasny Asset Management LLC now owns 997,478 shares of the specialty chemicals company’s stock valued at $24,588,000 after purchasing an additional 946,210 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Chemours by 5.5% during the 3rd quarter. Vanguard Group Inc. now owns 17,741,300 shares of the specialty chemicals company’s stock valued at $437,324,000 after purchasing an additional 932,063 shares during the last quarter. 76.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CC has been the subject of several recent analyst reports. BMO Capital Markets raised shares of Chemours from an “underperform” rating to an “outperform” rating and lifted their price objective for the stock from $19.00 to $34.00 in a research note on Tuesday, April 9th. Barclays cut their price target on shares of Chemours from $32.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 2nd. Finally, UBS Group raised their price objective on shares of Chemours from $21.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $30.89.

Chemours Price Performance

Chemours stock opened at $26.48 on Friday. The company has a debt-to-equity ratio of 5.40, a current ratio of 1.54 and a quick ratio of 1.00. The stock has a market cap of $3.94 billion, a price-to-earnings ratio of -17.08 and a beta of 2.00. The firm has a 50-day moving average of $26.98 and a two-hundred day moving average of $27.80. The Chemours Company has a 1 year low of $15.10 and a 1 year high of $39.05.

Chemours Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, February 26th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.78%. Chemours’s payout ratio is -64.52%.

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.