Jacobs Levy Equity Management Inc. Takes $1.76 Million Position in The Chemours Company (NYSE:CC)

Jacobs Levy Equity Management Inc. bought a new stake in The Chemours Company (NYSE:CC) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 67,156 shares of the specialty chemicals company’s stock, valued at approximately $1,764,000.

Several other institutional investors also recently modified their holdings of the business. Massachusetts Financial Services Co. MA grew its holdings in Chemours by 50.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,763,368 shares of the specialty chemicals company’s stock valued at $150,237,000 after purchasing an additional 1,602,628 shares during the period. Vaughan Nelson Investment Management L.P. grew its holdings in Chemours by 91.5% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 2,645,676 shares of the specialty chemicals company’s stock valued at $69,476,000 after purchasing an additional 1,263,875 shares during the period. Dimensional Fund Advisors LP grew its holdings in Chemours by 2.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,547,094 shares of the specialty chemicals company’s stock valued at $80,342,000 after purchasing an additional 53,254 shares during the period. Khrom Capital Management LLC lifted its position in shares of Chemours by 156.7% during the first quarter. Khrom Capital Management LLC now owns 2,235,659 shares of the specialty chemicals company’s stock worth $58,708,000 after acquiring an additional 1,364,634 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Chemours during the fourth quarter worth $39,171,000. 76.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CC. UBS Group upgraded Chemours from a “neutral” rating to a “buy” rating and increased their target price for the stock from $28.00 to $30.00 in a research report on Tuesday, July 9th. Mizuho assumed coverage on Chemours in a research report on Friday, June 7th. They issued a “neutral” rating and a $25.00 price objective on the stock. Finally, BMO Capital Markets upgraded Chemours from an “underperform” rating to an “outperform” rating and increased their price objective for the stock from $19.00 to $34.00 in a research report on Tuesday, April 9th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Chemours presently has a consensus rating of “Hold” and an average price target of $30.38.

Chemours Trading Up 1.8 %

CC stock opened at $24.17 on Thursday. The Chemours Company has a fifty-two week low of $15.10 and a fifty-two week high of $37.83. The business’s 50 day moving average price is $24.06 and its two-hundred day moving average price is $26.51. The company has a current ratio of 1.61, a quick ratio of 0.99 and a debt-to-equity ratio of 5.26.

Chemours (NYSE:CC) last issued its quarterly earnings results on Tuesday, April 30th. The specialty chemicals company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.07. Chemours had a positive return on equity of 46.67% and a negative net margin of 5.51%. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the previous year, the firm posted $0.98 EPS. The business’s revenue for the quarter was down 12.1% compared to the same quarter last year. Sell-side analysts forecast that The Chemours Company will post 1.81 EPS for the current year.

Chemours Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Thursday, August 15th will be given a $0.25 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.00 annualized dividend and a yield of 4.14%. Chemours’s dividend payout ratio (DPR) is presently -46.08%.

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.