The Chemours Company (NYSE:CC) Shares Acquired by State of Michigan Retirement System

State of Michigan Retirement System lifted its stake in shares of The Chemours Company (NYSE:CCFree Report) by 2.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,479 shares of the specialty chemicals company’s stock after buying an additional 900 shares during the period. State of Michigan Retirement System’s holdings in Chemours were worth $958,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CC. Hexagon Capital Partners LLC acquired a new stake in shares of Chemours during the fourth quarter worth $25,000. Morton Brown Family Wealth LLC purchased a new position in shares of Chemours during the fourth quarter worth $35,000. Sunbelt Securities Inc. raised its holdings in shares of Chemours by 1,969.7% during the first quarter. Sunbelt Securities Inc. now owns 1,366 shares of the specialty chemicals company’s stock worth $36,000 after purchasing an additional 1,300 shares during the last quarter. Neo Ivy Capital Management purchased a new position in shares of Chemours during the fourth quarter worth $40,000. Finally, Quarry LP raised its holdings in shares of Chemours by 106.8% during the fourth quarter. Quarry LP now owns 1,700 shares of the specialty chemicals company’s stock worth $54,000 after purchasing an additional 26,700 shares during the last quarter. 76.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CC. Mizuho began coverage on shares of Chemours in a report on Friday, June 7th. They set a “neutral” rating and a $25.00 target price for the company. UBS Group raised their target price on shares of Chemours from $21.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. BMO Capital Markets raised shares of Chemours from an “underperform” rating to an “outperform” rating and raised their target price for the stock from $19.00 to $34.00 in a report on Tuesday, April 9th. Finally, Barclays cut their price objective on shares of Chemours from $32.00 to $30.00 and set an “equal weight” rating for the company in a report on Tuesday, April 2nd. Seven investment 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.com, the company presently has an average rating of “Hold” and an average target price of $30.13.

Read Our Latest Report on CC

Chemours Stock Down 2.6 %

CC stock opened at $22.11 on Friday. The stock has a market capitalization of $3.29 billion, a P/E ratio of -10.19 and a beta of 1.80. The firm has a 50-day simple moving average of $25.42 and a 200-day simple moving average of $27.42. The company has a quick ratio of 0.99, a current ratio of 1.61 and a debt-to-equity ratio of 5.26. The Chemours Company has a 52 week low of $15.10 and a 52 week high of $39.05.

Chemours (NYSE:CCGet Free Report) last released its earnings results on Tuesday, April 30th. The specialty chemicals company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.07. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Chemours had a negative net margin of 5.51% and a positive return on equity of 46.67%. The company’s quarterly revenue was down 12.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.98 earnings per share. Equities analysts forecast that The Chemours Company will post 1.88 earnings per share for the current fiscal year.

Chemours Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th were paid a dividend of $0.25 per share. The ex-dividend date was Tuesday, May 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.52%. Chemours’s dividend payout ratio is currently -46.08%.

About Chemours

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Chemours (NYSE:CC)

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