State of New Jersey Common Pension Fund D Boosts Position in The Chemours Company (NYSE:CC)

State of New Jersey Common Pension Fund D boosted its position in shares of The Chemours Company (NYSE:CC) by 7.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 95,771 shares of the specialty chemicals company’s stock after purchasing an additional 6,268 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.06% of Chemours worth $3,021,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Legacy Financial Group LLC purchased a new stake in shares of Chemours in the third quarter valued at $29,000. Morton Brown Family Wealth LLC purchased a new stake in shares of Chemours in the fourth quarter valued at $35,000. Anchor Investment Management LLC purchased a new stake in shares of Chemours in the fourth quarter valued at $56,000. Geneos Wealth Management Inc. lifted its position in shares of Chemours by 116.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,859 shares of the specialty chemicals company’s stock valued at $59,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Bfsg LLC purchased a new stake in shares of Chemours in the fourth quarter valued at $62,000. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Chemours Stock Performance

Shares of NYSE:CC opened at $27.32 on Friday. The firm has a market capitalization of $4.07 billion, a PE ratio of -17.63 and a beta of 2.00. The company has a debt-to-equity ratio of 5.40, a current ratio of 1.54 and a quick ratio of 1.00. The business has a 50-day moving average of $26.70 and a two-hundred day moving average of $27.82. The Chemours Company has a 12 month low of $15.10 and a 12 month high of $39.05.

Chemours (NYSE:CC) last announced its quarterly earnings results on Wednesday, March 27th. The specialty chemicals company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.29 by $0.02. Chemours had a positive return on equity of 51.73% and a negative net margin of 3.80%. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.37 billion. As a group, research analysts forecast that The Chemours Company will post 2.23 earnings per share for the current year.

Chemours Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, February 26th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.66%. Chemours’s dividend payout ratio (DPR) is currently -64.52%.

Analyst Ratings Changes

CC has been the topic of several recent research reports. BMO Capital Markets upgraded Chemours from an “underperform” rating to an “outperform” rating and upped their price objective for the company from $19.00 to $34.00 in a research report on Tuesday, April 9th. UBS Group upped their price objective on Chemours from $21.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. Finally, Barclays reduced their price objective on Chemours from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 2nd. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $30.89.

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.