Franklin Resources Inc. Invests $283,000 in The Chemours Company (NYSE:CC)

Franklin Resources Inc. bought a new stake in The Chemours Company (NYSE:CC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 16,731 shares of the specialty chemicals company’s stock, valued at approximately $283,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in shares of Chemours by 99.7% in the fourth 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. KBC Group NV raised its holdings in Chemours by 38.2% in the 4th quarter. KBC Group NV now owns 6,176 shares of the specialty chemicals company’s stock valued at $104,000 after acquiring an additional 1,708 shares during the last quarter. EMC Capital Management lifted its stake in Chemours by 74.6% in the 4th quarter. EMC Capital Management now owns 9,534 shares of the specialty chemicals company’s stock worth $161,000 after purchasing an additional 4,073 shares in the last quarter. Matrix Trust Co lifted its stake in Chemours by 715.7% in the 4th quarter. Matrix Trust Co now owns 9,952 shares of the specialty chemicals company’s stock worth $168,000 after purchasing an additional 8,732 shares in the last quarter. Finally, Larson Financial Group LLC acquired a new position in shares of Chemours during the 4th quarter worth approximately $205,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Chemours Price Performance

Shares of CC stock opened at $11.37 on Friday. The Chemours Company has a 12 month low of $9.33 and a 12 month high of $29.21. The company has a quick ratio of 0.92, a current ratio of 1.68 and a debt-to-equity ratio of 6.70. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 19.94 and a beta of 1.84. The stock has a 50-day moving average price of $13.83 and a 200 day moving average price of $17.33.

Chemours (NYSE:CC) last posted its quarterly earnings data on Tuesday, February 18th. The specialty chemicals company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.37 billion. Chemours had a net margin of 1.51% and a return on equity of 26.54%. Research analysts expect that The Chemours Company will post 2.03 EPS for the current year.

Chemours Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a $0.25 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.80%. Chemours’s payout ratio is 175.44%.

Analyst Upgrades and Downgrades

CC has been the topic of a number of research analyst reports. Truist Financial reduced their target price on Chemours from $27.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Morgan Stanley cut their target price on Chemours from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Barclays dropped their target price on Chemours from $19.00 to $16.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 1st. Mizuho set a $15.00 price objective on shares of Chemours in a research note on Tuesday. Finally, BMO Capital Markets reduced 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. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $21.56.

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.