Mackenzie Financial Corp Buys 95,814 Shares of The Chemours Company (NYSE:CC)

Mackenzie Financial Corp raised its stake in shares of The Chemours Company (NYSE:CC) by 22.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 526,848 shares of the specialty chemicals company’s stock after purchasing an additional 95,814 shares during the quarter. Mackenzie Financial Corp owned 0.35% of Chemours worth $16,617,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Legacy Financial Group LLC purchased a new stake in shares of Chemours during the 3rd quarter valued at $29,000. Morton Brown Family Wealth LLC purchased a new stake in Chemours during the fourth quarter valued at about $35,000. Atlas Capital Advisors LLC bought a new stake in Chemours during the second quarter worth about $52,000. Anchor Investment Management LLC purchased a new position in shares of Chemours in the 4th quarter worth about $56,000. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Chemours by 116.4% during the 4th quarter. Geneos Wealth Management Inc. now owns 1,859 shares of the specialty chemicals company’s stock valued at $59,000 after buying an additional 1,000 shares in the last quarter. Institutional investors own 76.26% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on CC shares. BMO Capital Markets upgraded shares of Chemours from an “underperform” rating to an “outperform” rating and increased their price target for the company from $19.00 to $34.00 in a research report on Tuesday, April 9th. Barclays reduced their target price on shares of Chemours from $32.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 2nd. Finally, UBS Group upped their price target on shares of Chemours from $21.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $30.89.

Chemours Price Performance

CC stock opened at $26.48 on Friday. The company has a current ratio of 1.54, a quick ratio of 1.00 and a debt-to-equity ratio of 5.40. The firm’s 50-day moving average price is $26.98 and its two-hundred day moving average price is $27.80. The stock has a market capitalization of $3.94 billion, a price-to-earnings ratio of -17.08 and a beta of 2.00. The Chemours Company has a 12-month low of $15.10 and a 12-month high of $39.05.

Chemours Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, February 26th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.78%. The ex-dividend date of this dividend was Friday, February 23rd. Chemours’s dividend payout ratio (DPR) is currently -64.52%.

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.