New York State Common Retirement Fund Sells 15,596 Shares of The Chemours Company (NYSE:CC)

New York State Common Retirement Fund lowered its stake in The Chemours Company (NYSE:CC) by 14.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 90,169 shares of the specialty chemicals company’s stock after selling 15,596 shares during the period. New York State Common Retirement Fund’s holdings in Chemours were worth $2,844,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Morton Brown Family Wealth LLC acquired a new position in shares of Chemours in the 4th quarter valued at approximately $35,000. Anchor Investment Management LLC acquired a new position in Chemours during the fourth quarter valued at approximately $56,000. Geneos Wealth Management Inc. lifted its stake in Chemours by 116.4% during the fourth quarter. Geneos Wealth Management Inc. now owns 1,859 shares of the specialty chemicals company’s stock worth $59,000 after purchasing an additional 1,000 shares during the last quarter. Itau Unibanco Holding S.A. boosted its holdings in shares of Chemours by 60.6% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 3,000 shares of the specialty chemicals company’s stock valued at $84,000 after purchasing an additional 1,132 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Chemours in the 3rd quarter valued at $118,000. Institutional investors and hedge funds own 76.26% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. UBS Group raised their price objective on Chemours from $21.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. BMO Capital Markets upgraded shares of Chemours from an “underperform” rating to an “outperform” rating and upped their price objective for the stock from $19.00 to $34.00 in a research report on Tuesday, April 9th. Finally, Barclays decreased their target price on shares of Chemours from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 2nd. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $31.63.

Chemours Trading Up 3.0 %

Shares of NYSE CC opened at $27.36 on Tuesday. The firm has a 50 day moving average price of $26.44 and a two-hundred day moving average price of $27.86. The stock has a market cap of $4.07 billion, a P/E ratio of -12.61 and a beta of 1.99. The Chemours Company has a 52-week low of $15.10 and a 52-week high of $39.05. The company has a debt-to-equity ratio of 5.26, a quick ratio of 0.99 and a current ratio of 1.61.

Chemours (NYSE:CC) last issued its quarterly earnings results on Tuesday, April 30th. The specialty chemicals company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.07. Chemours had a negative net margin of 5.51% and a positive return on equity of 46.67%. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the previous year, the company earned $0.98 EPS. The company’s revenue for the quarter was down 12.1% on a year-over-year basis. As a group, equities analysts forecast that The Chemours Company will post 2.16 EPS for the current year.

Chemours Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend is Tuesday, May 14th. Chemours’s dividend payout ratio (DPR) is presently -46.08%.

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.