Geneos Wealth Management Inc. Boosts Stake in The Chemours Company (NYSE:CC)

Geneos Wealth Management Inc. increased its position in The Chemours Company (NYSE:CC) by 116.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,859 shares of the specialty chemicals company’s stock after purchasing an additional 1,000 shares during the period. Geneos Wealth Management Inc.’s holdings in Chemours were worth $59,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CC. BlackRock Inc. lifted its holdings in shares of Chemours by 29.0% in the 1st quarter. BlackRock Inc. now owns 18,075,740 shares of the specialty chemicals company’s stock valued at $569,023,000 after purchasing an additional 4,060,250 shares during the last quarter. Deutsche Bank AG increased its position in Chemours by 4,407.9% in the 3rd quarter. Deutsche Bank AG now owns 1,759,419 shares of the specialty chemicals company’s stock valued at $49,352,000 after acquiring an additional 1,720,389 shares during the period. Norges Bank acquired a new position in Chemours in the 4th quarter valued at about $47,013,000. Balyasny Asset Management LLC increased its position in Chemours by 1,845.6% in the 3rd quarter. Balyasny Asset Management LLC now owns 997,478 shares of the specialty chemicals company’s stock valued at $24,588,000 after acquiring an additional 946,210 shares during the period. Finally, Vanguard Group Inc. increased its position in Chemours by 5.5% in the 3rd quarter. Vanguard Group Inc. now owns 17,741,300 shares of the specialty chemicals company’s stock valued at $437,324,000 after acquiring an additional 932,063 shares during the period. 76.26% of the stock is owned by hedge funds and other institutional investors.

Chemours Stock Performance

CC opened at $26.40 on Wednesday. The stock has a market cap of $3.93 billion, a P/E ratio of -17.03 and a beta of 2.00. The company has a debt-to-equity ratio of 5.40, a current ratio of 1.54 and a quick ratio of 1.00. The stock’s 50 day simple moving average is $27.12 and its 200 day simple moving average is $27.82. The Chemours Company has a 1-year low of $15.10 and a 1-year high of $39.05.

Chemours Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, February 26th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date was Friday, February 23rd. Chemours’s dividend payout ratio is currently -64.52%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CC. UBS Group boosted their price target on Chemours from $21.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. BMO Capital Markets upgraded Chemours from an “underperform” rating to an “outperform” rating and boosted their price target for the company from $19.00 to $34.00 in a research report on Tuesday, April 9th. Finally, Barclays dropped their price target on Chemours from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 2nd. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $30.89.

Chemours Company Profile

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.