Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in The Chemours Company (NYSE:CC – Free Report) by 7.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 72,100 shares of the specialty chemicals company’s stock after purchasing an additional 5,289 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Chemours were worth $2,660,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Chemours by 7.3% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 24,871 shares of the specialty chemicals company’s stock valued at $917,000 after acquiring an additional 1,695 shares during the last quarter. Modera Wealth Management LLC increased its stake in shares of Chemours by 4.6% during the 2nd quarter. Modera Wealth Management LLC now owns 10,547 shares of the specialty chemicals company’s stock valued at $389,000 after acquiring an additional 466 shares during the last quarter. Coastline Trust Co acquired a new position in shares of Chemours during the 2nd quarter valued at about $233,000. Brown Brothers Harriman & Co. increased its stake in shares of Chemours by 7.0% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 5,504 shares of the specialty chemicals company’s stock valued at $203,000 after acquiring an additional 360 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Chemours by 5,257.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 750 shares of the specialty chemicals company’s stock valued at $28,000 after acquiring an additional 736 shares during the last quarter. Institutional investors and hedge funds own 76.46% of the company’s stock.
Wall Street Analyst Weigh In
CC has been the subject of a number of research analyst reports. StockNews.com initiated coverage on shares of Chemours in a research report on Thursday, October 5th. They set a “hold” rating for the company. BMO Capital Markets dropped their target price on shares of Chemours from $45.00 to $39.00 and set an “outperform” rating for the company in a research report on Monday, October 30th. Morgan Stanley dropped their target price on shares of Chemours from $33.00 to $28.00 and set an “equal weight” rating for the company in a research report on Monday, October 30th. JPMorgan Chase & Co. dropped their target price on shares of Chemours from $38.00 to $26.00 and set a “neutral” rating for the company in a research report on Tuesday, November 7th. Finally, TheStreet downgraded shares of Chemours from a “b” rating to a “c+” rating in a research report on Friday, July 28th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $31.90.
Chemours Stock Down 0.9 %
NYSE CC opened at $27.03 on Tuesday. The stock has a market cap of $4.01 billion, a PE ratio of -13.06 and a beta of 2.01. The Chemours Company has a fifty-two week low of $22.88 and a fifty-two week high of $39.05. The business has a 50 day moving average price of $26.84 and a two-hundred day moving average price of $31.26. The company has a quick ratio of 1.08, a current ratio of 1.68 and a debt-to-equity ratio of 5.21.
Chemours (NYSE:CC – Get Free Report) last released its quarterly earnings results on Thursday, October 26th. The specialty chemicals company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.13). The company had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Chemours had a positive return on equity of 42.13% and a negative net margin of 5.13%. As a group, sell-side analysts predict that The Chemours Company will post 2.88 EPS for the current fiscal year.
Chemours Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.70%. The ex-dividend date is Tuesday, November 14th. Chemours’s dividend payout ratio (DPR) is currently -48.31%.
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.
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