Retirement Systems of Alabama Raises Stake in The Chemours Company (NYSE:CC)

Retirement Systems of Alabama boosted its holdings in shares of The Chemours Company (NYSE:CC) by 0.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 425,109 shares of the specialty chemicals company’s stock after acquiring an additional 1,018 shares during the period. Retirement Systems of Alabama’s holdings in Chemours were worth $13,408,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Bryn Mawr Capital Management LLC increased its stake in Chemours by 135.7% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 27,205 shares of the specialty chemicals company’s stock valued at $858,000 after purchasing an additional 15,662 shares in the last quarter. State of New Jersey Common Pension Fund D increased its stake in Chemours by 7.0% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 95,771 shares of the specialty chemicals company’s stock valued at $3,021,000 after purchasing an additional 6,268 shares in the last quarter. Bfsg LLC bought a new stake in Chemours during the 4th quarter valued at about $62,000. Alaska Permanent Fund Corp increased its stake in Chemours by 2.5% during the 4th quarter. Alaska Permanent Fund Corp now owns 74,498 shares of the specialty chemicals company’s stock valued at $2,350,000 after purchasing an additional 1,798 shares in the last quarter. Finally, South Dakota Investment Council grew its stake in shares of Chemours by 37.3% in the fourth quarter. South Dakota Investment Council now owns 58,496 shares of the specialty chemicals company’s stock worth $1,845,000 after acquiring an additional 15,900 shares during the period. 76.26% of the stock is currently owned by institutional investors.

Chemours Stock Performance

CC opened at $25.97 on Thursday. 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 company has a market cap of $3.87 billion, a price-to-earnings ratio of -16.75 and a beta of 2.00. The company’s 50 day moving average is $26.66 and its 200 day moving average is $27.85. The Chemours Company has a 12-month low of $15.10 and a 12-month high of $39.05.

Chemours (NYSE:CC) last issued its quarterly earnings results on Tuesday, April 30th. The specialty chemicals company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.07. Chemours had a negative net margin of 3.80% and a positive return on equity of 51.73%. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the previous year, the firm earned $0.98 earnings per share. The company’s revenue for the quarter was down 12.1% on a year-over-year basis. On average, equities research analysts predict that The Chemours Company will post 2.23 EPS for the current year.

Chemours Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.85%. The ex-dividend date of this dividend is Tuesday, May 14th. Chemours’s dividend payout ratio is currently -64.52%.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. BMO Capital Markets upgraded shares of Chemours from an “underperform” rating to an “outperform” rating and lifted their price target for the stock from $19.00 to $34.00 in a research note on Tuesday, April 9th. UBS Group lifted their price target on shares of Chemours from $21.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Finally, Barclays reduced their price target on shares of Chemours from $32.00 to $30.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 2nd. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Chemours currently has an average rating of “Hold” and a consensus target price of $31.63.

About Chemours

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.