American Century Companies Inc. Grows Stock Position in The Chemours Company $CC

American Century Companies Inc. raised its holdings in shares of The Chemours Company (NYSE:CC) by 26.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,378,591 shares of the specialty chemicals company’s stock after acquiring an additional 490,988 shares during the quarter. American Century Companies Inc.’s holdings in Chemours were worth $37,677,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the business. MTM Investment Management LLC purchased a new stake in Chemours in the 2nd quarter valued at approximately $27,000. Evelyn Partners Asset Management Ltd acquired a new position in Chemours in the 2nd quarter valued at about $37,000. Hantz Financial Services Inc. boosted its stake in shares of Chemours by 334.2% during the 3rd quarter. Hantz Financial Services Inc. now owns 4,329 shares of the specialty chemicals company’s stock worth $69,000 after purchasing an additional 3,332 shares during the last quarter. CWM LLC grew its holdings in shares of Chemours by 32.4% during the third quarter. CWM LLC now owns 5,682 shares of the specialty chemicals company’s stock worth $90,000 after buying an additional 1,392 shares in the last quarter. Finally, Itau Unibanco Holding S.A. boosted its position in Chemours by 102.3% during the second quarter. Itau Unibanco Holding S.A. now owns 7,149 shares of the specialty chemicals company’s stock worth $82,000 after acquiring an additional 3,615 shares during the last quarter. 76.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CC has been the subject of several analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Chemours in a research note on Wednesday, January 21st. Truist Financial raised their price target on shares of Chemours from $18.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. BMO Capital Markets decreased their price target on shares of Chemours from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Monday, February 23rd. JPMorgan Chase & Co. increased their target price on Chemours from $13.00 to $17.00 and gave the company a “neutral” rating in a research note on Monday, February 23rd. Finally, UBS Group boosted their target price on shares of Chemours from $18.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, February 23rd. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Chemours presently has a consensus rating of “Hold” and a consensus target price of $18.40.

Chemours Price Performance

NYSE:CC opened at $16.44 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.78 and a debt-to-equity ratio of 16.33. The business’s 50-day moving average price is $16.38 and its 200 day moving average price is $14.74. The Chemours Company has a 52-week low of $9.13 and a 52-week high of $21.85. The firm has a market cap of $2.47 billion, a P/E ratio of -6.63 and a beta of 1.60.

Chemours (NYSE:CC) last issued its earnings results on Thursday, February 19th. The specialty chemicals company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.01 by $0.04. Chemours had a negative net margin of 6.41% and a positive return on equity of 41.75%. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the firm earned $0.09 earnings per share. The business’s quarterly revenue was down 2.2% on a year-over-year basis. As a group, sell-side analysts predict that The Chemours Company will post 2.03 earnings per share for the current fiscal year.

Chemours Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be given a $0.0875 dividend. This represents a $0.35 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Friday, February 27th. Chemours’s payout ratio is currently -14.11%.

About Chemours

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.