Louisiana State Employees Retirement System Takes $1.47 Million Position in The Chemours Company $CC

Louisiana State Employees Retirement System acquired a new stake in shares of The Chemours Company (NYSE:CC) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 66,500 shares of the specialty chemicals company’s stock, valued at approximately $1,465,000.

A number of other hedge funds have also recently bought and sold shares of CC. Cooper Creek Partners Management LLC purchased a new stake in Chemours in the 3rd quarter worth approximately $63,103,000. Scopia Capital Management LP lifted its stake in shares of Chemours by 71.7% during the 2nd quarter. Scopia Capital Management LP now owns 3,355,261 shares of the specialty chemicals company’s stock worth $38,418,000 after purchasing an additional 1,401,539 shares during the period. State Street Corp grew its position in shares of Chemours by 22.7% in the second quarter. State Street Corp now owns 6,114,328 shares of the specialty chemicals company’s stock valued at $70,009,000 after purchasing an additional 1,131,682 shares during the period. Wolf Hill Capital Management LP purchased a new stake in shares of Chemours in the third quarter valued at $17,025,000. Finally, Sona Asset Management US LLC increased its stake in Chemours by 176.9% in the fourth quarter. Sona Asset Management US LLC now owns 1,651,275 shares of the specialty chemicals company’s stock valued at $19,469,000 after purchasing an additional 1,055,000 shares during the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.

Chemours Price Performance

CC stock opened at $18.98 on Friday. The firm has a market cap of $2.85 billion, a P/E ratio of -7.19 and a beta of 1.41. The company has a debt-to-equity ratio of 18.98, a quick ratio of 0.87 and a current ratio of 1.82. The Chemours Company has a 1 year low of $10.44 and a 1 year high of $28.67. The stock has a 50-day simple moving average of $22.60 and a 200-day simple moving average of $19.24.

Chemours (NYSE:CC) last released its quarterly earnings results on Tuesday, May 5th. The specialty chemicals company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.10. Chemours had a positive return on equity of 52.49% and a negative net margin of 6.82%.The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period in the previous year, the company posted $0.13 EPS. Chemours’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities analysts predict that The Chemours Company will post 1.07 earnings per share for the current fiscal year.

Chemours Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Sunday, May 17th were paid a $0.0875 dividend. The ex-dividend date was Friday, May 15th. This represents a $0.35 annualized dividend and a dividend yield of 1.8%. Chemours’s dividend payout ratio is -13.26%.

Analyst Ratings Changes

CC has been the topic of several recent analyst reports. Royal Bank Of Canada increased their target price on Chemours from $26.00 to $29.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Truist Financial upped their price objective on shares of Chemours from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. UBS Group raised their target price on shares of Chemours from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Mizuho dropped their price target on shares of Chemours from $30.00 to $25.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, JPMorgan Chase & Co. increased their price target on shares of Chemours from $17.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, May 21st. Six equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $24.10.

Chemours 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.