Wells Fargo & Company MN Buys 5,540 Shares of The Chemours Company (NYSE:CC)

Wells Fargo & Company MN lifted its holdings in shares of The Chemours Company (NYSE:CC) by 7.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 84,369 shares of the specialty chemicals company’s stock after acquiring an additional 5,540 shares during the quarter. Wells Fargo & Company MN owned 0.06% of Chemours worth $1,426,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. GAMMA Investing LLC increased its position in Chemours by 99.7% in the fourth quarter. GAMMA Investing LLC now owns 1,532 shares of the specialty chemicals company’s stock worth $26,000 after buying an additional 765 shares during the last quarter. KBC Group NV increased its position in shares of Chemours by 38.2% in the fourth quarter. KBC Group NV now owns 6,176 shares of the specialty chemicals company’s stock worth $104,000 after purchasing an additional 1,708 shares during the last quarter. EMC Capital Management increased its position in shares of Chemours by 74.6% in the fourth 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 during the last quarter. Matrix Trust Co increased its position in shares of Chemours by 715.7% in the fourth 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 during the last quarter. Finally, Larson Financial Group LLC bought a new position in Chemours during the fourth quarter valued at approximately $205,000. 76.26% of the stock is owned by hedge funds and other institutional investors.

Chemours Stock Performance

NYSE:CC opened at $12.36 on Monday. The stock has a market cap of $1.85 billion, a P/E ratio of 21.68 and a beta of 1.84. The firm’s fifty day simple moving average is $13.30 and its 200 day simple moving average is $17.03. The Chemours Company has a twelve month low of $9.33 and a twelve 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.

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

Chemours Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.09%. The ex-dividend date of this dividend was Friday, February 28th. Chemours’s dividend payout ratio (DPR) is currently 175.44%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CC. Barclays reduced their price target on shares of Chemours from $19.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 1st. BMO Capital Markets reduced their price target on shares of Chemours from $34.00 to $27.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Mizuho set a $15.00 target price on shares of Chemours in a report on Tuesday, April 15th. Morgan Stanley cut their target price on shares of Chemours from $25.00 to $22.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Finally, The Goldman Sachs Group cut their target price on shares of Chemours from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Chemours has an average rating of “Moderate Buy” and an average target price 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.