Penn Capital Management Company LLC Buys Shares of 651,151 The Chemours Company $CC

Penn Capital Management Company LLC purchased a new position in shares of The Chemours Company (NYSE:CC) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 651,151 shares of the specialty chemicals company’s stock, valued at approximately $10,325,000. Penn Capital Management Company LLC owned approximately 0.43% of Chemours at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. MTM Investment Management LLC purchased a new stake in Chemours in the 2nd quarter worth approximately $27,000. Evelyn Partners Asset Management Ltd purchased a new position in shares of Chemours during the 2nd quarter worth $37,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Chemours during the 3rd quarter worth $43,000. Advisory Services Network LLC acquired a new stake in shares of Chemours during the third quarter worth $54,000. Finally, Hantz Financial Services Inc. boosted its holdings in shares of Chemours by 334.2% during the third quarter. Hantz Financial Services Inc. now owns 4,329 shares of the specialty chemicals company’s stock worth $69,000 after purchasing an additional 3,332 shares during the last quarter. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. The Goldman Sachs Group upped their target price on Chemours from $14.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, February 25th. BMO Capital Markets decreased their price target on Chemours from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Monday, February 23rd. Mizuho lifted their price target on Chemours from $17.00 to $21.00 and gave the company an “outperform” rating in a report on Thursday, March 5th. Royal Bank Of Canada reissued an “outperform” rating and issued a $18.00 target price on shares of Chemours in a research report on Friday, January 16th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $17.00 price target on shares of Chemours in a research report on Monday, February 23rd. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Chemours currently has a consensus rating of “Hold” and a consensus target price of $18.40.

Chemours Stock Up 7.8%

Shares of NYSE:CC opened at $19.01 on Wednesday. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.85 and a current ratio of 1.78. The Chemours Company has a 1 year low of $9.13 and a 1 year high of $21.85. The stock has a market capitalization of $2.85 billion, a P/E ratio of -7.66 and a beta of 1.60. The stock has a 50-day simple moving average of $17.16 and a 200-day simple moving average of $14.87.

Chemours (NYSE:CC) last posted its earnings results on Thursday, February 19th. The specialty chemicals company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.33 billion. Chemours had a negative net margin of 6.41% and a positive return on equity of 41.75%. The company’s revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.09 EPS. Equities analysts forecast that The Chemours Company will post 2.03 earnings per share for the current year.

Chemours Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were paid a $0.0875 dividend. This represents a $0.35 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, February 27th. Chemours’s dividend payout ratio (DPR) is currently -14.11%.

About Chemours

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.