First Citizens Bank & Trust Co. Takes $811,000 Position in The Chemours Company $CC

First Citizens Bank & Trust Co. acquired a new position in The Chemours Company (NYSE:CC) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 36,795 shares of the specialty chemicals company’s stock, valued at approximately $811,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Atlas Capital Advisors Inc. acquired a new position in Chemours during the 4th quarter valued at about $26,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Chemours during the fourth quarter worth about $28,000. Covestor Ltd grew its stake in shares of Chemours by 204.7% during the fourth quarter. Covestor Ltd now owns 2,602 shares of the specialty chemicals company’s stock worth $31,000 after acquiring an additional 1,748 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in shares of Chemours during the fourth quarter valued at about $31,000. Finally, Rothschild Investment LLC increased its holdings in shares of Chemours by 87.0% during the fourth quarter. Rothschild Investment LLC now owns 2,698 shares of the specialty chemicals company’s stock valued at $32,000 after acquiring an additional 1,255 shares in the last quarter. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Chemours in a research report on Friday, July 17th. JPMorgan Chase & Co. lifted their price objective on shares of Chemours from $17.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, May 21st. Mizuho dropped their price objective on shares of Chemours from $30.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, July 1st. Zacks Research raised Chemours from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Finally, UBS Group raised their target price on Chemours from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Chemours has a consensus rating of “Moderate Buy” and a consensus target price of $24.10.

Chemours Price Performance

Shares of NYSE:CC opened at $17.50 on Friday. The Chemours Company has a twelve month low of $10.44 and a twelve month high of $28.67. The company has a current ratio of 1.82, a quick ratio of 0.87 and a debt-to-equity ratio of 18.98. The company has a market cap of $2.63 billion, a PE ratio of -6.63 and a beta of 1.41. The company’s 50 day moving average is $20.47 and its 200 day moving average is $19.89.

Chemours (NYSE:CC) last announced its quarterly earnings data on Tuesday, May 5th. The specialty chemicals company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.10. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Chemours had a negative net margin of 6.82% and a positive return on equity of 52.49%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.13 EPS. On average, sell-side analysts forecast that The Chemours Company will post 1.18 EPS for the current year.

Chemours Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Sunday, May 17th were paid a dividend of $0.0875 per share. The ex-dividend date was Friday, May 15th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 2.0%. Chemours’s dividend payout ratio (DPR) is presently -13.26%.

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.