Alaska Permanent Fund Corp Buys 1,798 Shares of The Chemours Company (NYSE:CC)

Alaska Permanent Fund Corp grew its stake in shares of The Chemours Company (NYSE:CC) by 2.5% during the fourth quarter, HoldingsChannel reports. The firm owned 74,498 shares of the specialty chemicals company’s stock after purchasing an additional 1,798 shares during the quarter. Alaska Permanent Fund Corp’s holdings in Chemours were worth $2,350,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Deutsche Bank AG lifted its position in Chemours by 4,407.9% during the 3rd quarter. Deutsche Bank AG now owns 1,759,419 shares of the specialty chemicals company’s stock valued at $49,352,000 after acquiring an additional 1,720,389 shares during the period. Bank of New York Mellon Corp lifted its position in Chemours by 11.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 6,196,063 shares of the specialty chemicals company’s stock valued at $173,800,000 after acquiring an additional 612,071 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Chemours by 10.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,160,740 shares of the specialty chemicals company’s stock valued at $88,659,000 after acquiring an additional 286,076 shares during the period. Tudor Investment Corp Et Al lifted its position in Chemours by 10,530.9% during the 3rd quarter. Tudor Investment Corp Et Al now owns 219,049 shares of the specialty chemicals company’s stock valued at $6,144,000 after acquiring an additional 221,149 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new position in Chemours in the fourth quarter worth about $4,711,000. Institutional investors own 76.26% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CC. UBS Group lifted 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 lifted their target price for the stock from $19.00 to $34.00 in a 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 for the company in a report on Tuesday, April 2nd. Seven 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, Chemours presently has an average rating of “Hold” and an average price target of $30.89.

Chemours Stock Performance

NYSE CC traded down $0.10 during trading hours on Thursday, hitting $26.98. 105,492 shares of the company’s stock traded hands, compared to its average volume of 1,840,430. The business’s fifty day moving average price is $26.72 and its two-hundred day moving average price is $27.80. The company has a current ratio of 1.54, a quick ratio of 1.00 and a debt-to-equity ratio of 5.40. The firm has a market capitalization of $4.02 billion, a P/E ratio of -17.47 and a beta of 2.00. The Chemours Company has a 52 week low of $15.10 and a 52 week high of $39.05.

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

Chemours Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, February 26th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.00 annualized dividend and a yield of 3.71%. Chemours’s dividend payout ratio (DPR) is -64.52%.

Chemours 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.