Penn Capital Management Company LLC Purchases 735,668 Shares of The Chemours Company $CC

Penn Capital Management Company LLC increased its position in shares of The Chemours Company (NYSE:CC) by 113.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,386,819 shares of the specialty chemicals company’s stock after acquiring an additional 735,668 shares during the quarter. Chemours comprises 1.3% of Penn Capital Management Company LLC’s holdings, making the stock its 27th biggest position. Penn Capital Management Company LLC owned 0.93% of Chemours worth $16,366,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of CC. Baird Financial Group Inc. bought a new position in shares of Chemours during the 1st quarter worth approximately $148,000. Royal Bank of Canada raised its stake in shares of Chemours by 6.8% during the 1st quarter. Royal Bank of Canada now owns 585,702 shares of the specialty chemicals company’s stock worth $7,926,000 after acquiring an additional 37,382 shares in the last quarter. AQR Capital Management LLC bought a new position in shares of Chemours during the 1st quarter worth approximately $161,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Chemours by 149.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,243 shares of the specialty chemicals company’s stock worth $593,000 after acquiring an additional 25,899 shares in the last quarter. Finally, Empowered Funds LLC bought a new position in shares of Chemours during the 1st quarter worth approximately $403,000. Institutional investors own 76.26% of the company’s stock.

Analysts Set New Price Targets

CC has been the subject of several recent analyst reports. Morgan Stanley boosted their price objective on shares of Chemours from $17.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Royal Bank Of Canada boosted their price objective on shares of Chemours from $26.00 to $29.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Alembic Global Advisors reiterated an “overweight” rating and set a $30.00 price objective on shares of Chemours in a research note on Wednesday, May 13th. Zacks Research upgraded shares of Chemours from a “strong sell” rating to a “hold” rating in a research note on Friday, April 24th. Finally, Truist Financial upped their price target on shares of Chemours from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Six equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Chemours has an average rating of “Hold” and an average price target of $23.55.

Chemours Stock Up 3.4%

CC stock opened at $22.10 on Wednesday. The firm’s fifty day simple moving average is $22.60 and its 200-day simple moving average is $17.51. The company has a market capitalization of $3.32 billion, a P/E ratio of -8.37 and a beta of 1.47. The company has a debt-to-equity ratio of 18.98, a current ratio of 1.82 and a quick ratio of 0.87. The Chemours Company has a 12 month low of $9.13 and a 12 month high of $28.67.

Chemours (NYSE:CC) last released 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 for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.13 EPS. As a group, equities research analysts forecast that The Chemours Company will post 1.27 earnings per share for the current year.

Chemours Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Sunday, May 17th will be issued a $0.0875 dividend. This represents a $0.35 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, May 15th. Chemours’s dividend payout ratio is -13.26%.

Chemours Profile

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.