New York State Common Retirement Fund Has $7.36 Million Stock Holdings in The Chemours Company $CC

New York State Common Retirement Fund lifted its stake in shares of The Chemours Company (NYSE:CC) by 1,085.8% in the third quarter, Holdings Channel.com reports. The fund owned 464,842 shares of the specialty chemicals company’s stock after acquiring an additional 425,642 shares during the quarter. New York State Common Retirement Fund’s holdings in Chemours were worth $7,363,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CC. Amalgamated Bank raised its holdings in Chemours by 1.7% during the 3rd quarter. Amalgamated Bank now owns 43,528 shares of the specialty chemicals company’s stock worth $689,000 after purchasing an additional 740 shares during the last quarter. Yousif Capital Management LLC boosted its position in shares of Chemours by 1.6% during the 2nd quarter. Yousif Capital Management LLC now owns 62,386 shares of the specialty chemicals company’s stock valued at $714,000 after purchasing an additional 968 shares in the last quarter. Man Group plc boosted its holdings in shares of Chemours by 0.4% during the 2nd quarter. Man Group plc now owns 271,108 shares of the specialty chemicals company’s stock worth $3,104,000 after buying an additional 979 shares in the last quarter. CWM LLC grew its holdings in Chemours by 34.7% in the second quarter. CWM LLC now owns 4,290 shares of the specialty chemicals company’s stock worth $49,000 after purchasing an additional 1,104 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in shares of Chemours by 3.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 54,452 shares of the specialty chemicals company’s stock worth $623,000 after purchasing an additional 1,852 shares in the last quarter. 76.26% of the stock is currently owned by institutional investors.

Chemours Stock Up 8.6%

Shares of NYSE:CC opened at $17.94 on Thursday. The firm has a fifty day moving average price of $13.59 and a two-hundred day moving average price of $13.92. The company has a market cap of $2.69 billion, a price-to-earnings ratio of -8.08 and a beta of 1.63. The company has a debt-to-equity ratio of 13.66, a current ratio of 1.71 and a quick ratio of 0.88. The Chemours Company has a one year low of $9.13 and a one year high of $19.06.

Chemours (NYSE:CC) last issued its quarterly earnings data on Thursday, November 6th. The specialty chemicals company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.04). Chemours had a positive return on equity of 35.27% and a negative net margin of 5.70%.The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter last year, the business posted $0.40 EPS. The company’s quarterly revenue was down .9% on a year-over-year basis. Analysts anticipate that The Chemours Company will post 2.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CC. Truist Financial increased their target price on Chemours from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, January 21st. UBS Group dropped their price target on shares of Chemours from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, November 11th. Weiss Ratings reiterated a “sell (d)” rating on shares of Chemours in a report on Wednesday, January 21st. Mizuho lowered their price objective on shares of Chemours from $19.00 to $18.00 and set an “outperform” rating on the stock in a research report on Thursday, October 16th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $18.00 target price on shares of Chemours in a research note on Friday, January 16th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $16.67.

About Chemours

Chemours Company, established in 2015 as a spin-off from E. I. du Pont de Nemours and Company, is a global chemistry organization headquartered in Wilmington, Delaware. Since its formation, Chemours has focused on delivering performance chemicals that help customers lower their carbon footprint, increase energy efficiency and conserve water. The company operates with a commitment to safety, environmental stewardship and innovation.

Chemours’ principal business activities are organized into three core segments.