Twelve Points Wealth Management LLC Acquires 32,287 Shares of The Chemours Company (NYSE:CC)

Twelve Points Wealth Management LLC raised its holdings in The Chemours Company (NYSE:CC) by 143.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 54,835 shares of the specialty chemicals company’s stock after buying an additional 32,287 shares during the period. Twelve Points Wealth Management LLC’s holdings in Chemours were worth $1,114,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Creative Planning grew its stake in shares of Chemours by 66.6% in the third quarter. Creative Planning now owns 44,228 shares of the specialty chemicals company’s stock valued at $899,000 after buying an additional 17,682 shares in the last quarter. Inspire Investing LLC lifted its stake in Chemours by 29.8% in the third quarter. Inspire Investing LLC now owns 20,276 shares of the specialty chemicals company’s stock valued at $412,000 after acquiring an additional 4,658 shares during the last quarter. Matrix Trust Co bought a new position in shares of Chemours in the 3rd quarter valued at about $25,000. William B. Walkup & Associates Inc. bought a new position in shares of Chemours in the 2nd quarter valued at about $107,000. Finally, Scientech Research LLC bought a new stake in shares of Chemours in the 2nd quarter valued at about $357,000. 76.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on CC. Barclays reduced their price target on Chemours from $22.00 to $21.00 and set an “equal weight” rating for the company in a report on Wednesday, September 25th. UBS Group reduced their target price on Chemours from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. BMO Capital Markets increased their price target on Chemours from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. The Goldman Sachs Group reduced their price objective on shares of Chemours from $29.00 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, September 3rd. Finally, Royal Bank of Canada decreased their price objective on shares of Chemours from $35.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, October 11th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $25.38.

Chemours Stock Performance

CC opened at $19.86 on Thursday. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.89 and a quick ratio of 1.01. The business has a fifty day simple moving average of $18.90 and a 200 day simple moving average of $22.99. The Chemours Company has a 1 year low of $15.10 and a 1 year high of $32.70. The company has a market capitalization of $2.96 billion, a PE ratio of -9.15 and a beta of 1.74.

Chemours (NYSE:CC) last released its quarterly earnings results on Thursday, August 1st. The specialty chemicals company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.19). Chemours had a net margin of 2.16% and a return on equity of 33.21%. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the company posted $1.10 earnings per share. The company’s revenue was down 6.4% on a year-over-year basis. Research analysts expect that The Chemours Company will post 1.32 EPS for the current year.

Chemours Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.00 annualized dividend and a dividend yield of 5.04%. Chemours’s dividend payout ratio is presently -46.08%.

About Chemours

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.