New York State Teachers Retirement System Lowers Stock Holdings in The Chemours Company $CC

New York State Teachers Retirement System cut its holdings in The Chemours Company (NYSE:CC) by 19.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 152,663 shares of the specialty chemicals company’s stock after selling 37,884 shares during the period. New York State Teachers Retirement System owned 0.10% of Chemours worth $3,363,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Chemours by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 17,920,868 shares of the specialty chemicals company’s stock valued at $211,287,000 after purchasing an additional 490,778 shares during the period. State Street Corp lifted its position in Chemours by 22.7% during the second quarter. State Street Corp now owns 6,114,328 shares of the specialty chemicals company’s stock worth $70,009,000 after buying an additional 1,131,682 shares during the period. Ameriprise Financial Inc. lifted its position in Chemours by 13.8% during the third quarter. Ameriprise Financial Inc. now owns 4,796,153 shares of the specialty chemicals company’s stock worth $75,971,000 after buying an additional 580,089 shares during the period. UBS Group AG boosted its stake in Chemours by 0.3% in the 3rd quarter. UBS Group AG now owns 4,754,492 shares of the specialty chemicals company’s stock worth $75,311,000 after buying an additional 14,865 shares during the last quarter. Finally, Cooper Creek Partners Management LLC acquired a new stake in Chemours in the 3rd quarter worth about $63,103,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Chemours Price Performance

CC opened at $17.35 on Friday. The Chemours Company has a 52-week low of $10.44 and a 52-week high of $28.67. The company has a 50 day moving average of $21.90 and a two-hundred day moving average of $19.47. The company has a market cap of $2.61 billion, a P/E ratio of -6.57 and a beta of 1.41. The company has a quick ratio of 0.87, a current ratio of 1.82 and a debt-to-equity ratio of 18.98.

Chemours (NYSE:CC) last issued its earnings results on Tuesday, May 5th. The specialty chemicals company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.10. Chemours had a negative net margin of 6.82% and a positive return on equity of 52.49%. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter last year, the firm posted $0.13 EPS. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, analysts expect that The Chemours Company will post 1.16 earnings per share for the current year.

Chemours Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Sunday, May 17th were given a $0.0875 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.35 annualized dividend and a yield of 2.0%. Chemours’s dividend payout ratio (DPR) is -13.26%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of Chemours from $17.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, May 21st. Alembic Global Advisors reissued an “overweight” rating and issued a $30.00 target price on shares of Chemours in a research report on Wednesday, May 13th. Weiss Ratings restated a “sell (d)” rating on shares of Chemours in a report on Monday, April 20th. Morgan Stanley upped their price target on shares of Chemours from $17.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Finally, Zacks Research raised shares of Chemours from a “strong sell” rating to a “hold” rating in a research note on Friday, April 24th. Six research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Chemours currently has a consensus rating of “Hold” and an average target price of $24.10.

Chemours Company Profile

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.