Dimensional Fund Advisors LP Purchases 112,091 Shares of The Chemours Company (NYSE:CC)

Posted by Nicole Kennedy on May 26th, 2023

Dimensional Fund Advisors LP raised its position in The Chemours Company (NYSE:CC – Get Rating) by 5.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,340,813 shares of the specialty chemicals company’s stock after acquiring an additional 112,091 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.55% of Chemours worth $71,677,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Foster & Motley Inc. bought a new position in shares of Chemours in the fourth quarter worth about $232,000. Mercer Global Advisors Inc. ADV raised its stake in shares of Chemours by 20.4% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 24,623 shares of the specialty chemicals company’s stock worth $754,000 after buying an additional 4,171 shares during the period. Swiss National Bank raised its stake in shares of Chemours by 1.6% in the fourth quarter. Swiss National Bank now owns 374,600 shares of the specialty chemicals company’s stock worth $11,470,000 after buying an additional 5,900 shares during the period. C2C Wealth Management LLC bought a new position in shares of Chemours in the fourth quarter worth about $349,000. Finally, Arizona State Retirement System raised its stake in shares of Chemours by 3.6% in the fourth quarter. Arizona State Retirement System now owns 43,776 shares of the specialty chemicals company’s stock worth $1,340,000 after buying an additional 1,528 shares during the period. Institutional investors own 71.89% of the company’s stock.

Chemours Price Performance

Shares of Chemours stock opened at $28.01 on Friday. The stock has a market cap of $4.18 billion, a price-to-earnings ratio of 9.04, a price-to-earnings-growth ratio of 0.92 and a beta of 1.87. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.98 and a current ratio of 1.84. The stock has a 50 day moving average price of $29.08 and a 200-day moving average price of $31.44. The Chemours Company has a one year low of $23.58 and a one year high of $44.95.

Chemours (NYSE:CC – Get Rating) last announced its earnings results on Friday, April 28th. The specialty chemicals company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.36. Chemours had a return on equity of 53.44% and a net margin of 7.45%. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the business earned $1.46 EPS. The company’s quarterly revenue was down 12.9% on a year-over-year basis. Equities analysts expect that The Chemours Company will post 3.97 EPS for the current year.

Chemours Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Monday, May 15th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend is Friday, May 12th. Chemours’s dividend payout ratio is currently 32.26%.

Analysts Set New Price Targets

Several analysts recently issued reports on CC shares. The Goldman Sachs Group increased their target price on Chemours from $34.00 to $38.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 14th. StockNews.com cut Chemours from a “buy” rating to a “hold” rating in a research report on Saturday, May 20th. Citigroup increased their target price on Chemours from $33.00 to $35.00 and gave the stock a “neutral” rating in a research report on Monday, February 13th. Credit Suisse Group cut their target price on Chemours from $27.00 to $25.00 in a research report on Friday, April 28th. Finally, Royal Bank of Canada increased their target price on Chemours from $35.00 to $36.00 in a research report on Monday, May 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $36.11.

Insider Buying and Selling

In related news, insider Alisha Bellezza sold 27,716 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $35.47, for a total transaction of $983,086.52. Following the completion of the sale, the insider now directly owns 43,931 shares of the company’s stock, valued at approximately $1,558,232.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.63% of the stock is owned by corporate insiders.

Chemours Profile

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The Chemours Co is a holding company, which engages in the provision of performance chemicals. The firm delivers solutions, which include a range of industrial and chemical products for markets including coatings, plastics, refrigeration and air conditioning, transportation, semiconductor and consumer electronics, and general industrial.