State Board of Administration of Florida Retirement System Has $6.17 Million Stake in The Chemours Company (NYSE:CC)

State Board of Administration of Florida Retirement System trimmed its position in The Chemours Company (NYSE:CC) by 3.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 212,212 shares of the specialty chemicals company’s stock after selling 6,824 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Chemours were worth $6,167,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV raised its stake in shares of Chemours by 6,486.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 988 shares of the specialty chemicals company’s stock valued at $34,000 after purchasing an additional 973 shares in the last quarter. Koshinski Asset Management Inc. acquired a new position in shares of Chemours in the third quarter valued at $54,000. JJJ Advisors Inc. raised its stake in shares of Chemours by 188.0% in the third quarter. JJJ Advisors Inc. now owns 2,016 shares of the specialty chemicals company’s stock valued at $59,000 after purchasing an additional 1,316 shares in the last quarter. Brighton Jones LLC acquired a new position in shares of Chemours in the third quarter valued at $474,000. Finally, Advisory Services Network LLC acquired a new position in shares of Chemours in the second quarter valued at $92,000. Institutional investors and hedge funds own 72.39% of the company’s stock.

Shares of CC stock opened at $36.16 on Friday. The stock’s fifty day moving average is $32.68 and its 200-day moving average is $32.11. The company has a debt-to-equity ratio of 3.83, a quick ratio of 1.32 and a current ratio of 1.89. The stock has a market capitalization of $5.89 billion, a PE ratio of 15.45, a PEG ratio of 0.31 and a beta of 2.04. The Chemours Company has a 52 week low of $23.30 and a 52 week high of $38.87.

Chemours (NYSE:CC) last announced its earnings results on Thursday, November 4th. The specialty chemicals company reported $1.27 EPS for the quarter, topping the consensus estimate of $0.99 by $0.28. The company had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Chemours had a return on equity of 72.01% and a net margin of 6.51%. The business’s revenue for the quarter was up 36.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.47 earnings per share. As a group, analysts forecast that The Chemours Company will post 4.04 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 15th. Investors of record on Monday, November 15th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.77%. The ex-dividend date was Friday, November 12th. Chemours’s dividend payout ratio is 42.74%.

In other Chemours news, CFO Sameer Ralhan sold 17,482 shares of the firm’s stock in a transaction dated Thursday, December 2nd. The stock was sold at an average price of $29.85, for a total transaction of $521,837.70. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP David C. Shelton sold 9,886 shares of the firm’s stock in a transaction dated Thursday, December 2nd. The stock was sold at an average price of $29.74, for a total value of $294,009.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 127,336 shares of company stock worth $3,806,890. 2.78% of the stock is owned by company insiders.

Several research firms have issued reports on CC. Royal Bank of Canada increased their price objective on Chemours from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, November 8th. Zacks Investment Research lowered Chemours from a “strong-buy” rating to a “hold” rating and set a $37.00 price objective for the company. in a research note on Wednesday, January 5th. Finally, UBS Group increased their price objective on Chemours from $34.00 to $36.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 4th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $39.89.

Chemours Company Profile

The Chemours Co is a holding company that engages in the provision of performance chemicals. The firm deliver solutions, which include a range of industrial and chemicals products for markets, including coatings, plastics, refrigeration and air conditioning, transportation, semiconductor and consumer electronics, general industrial, mining, and oil & gas.

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Institutional Ownership by Quarter for Chemours (NYSE:CC)

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