California Public Employees Retirement System cut its holdings in shares of The Chemours Company (NYSE:CC – Get Rating) by 1.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 369,044 shares of the specialty chemicals company’s stock after selling 5,082 shares during the period. California Public Employees Retirement System’s holdings in Chemours were worth $11,300,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Lindbrook Capital LLC boosted its position in shares of Chemours by 117.3% during the fourth quarter. Lindbrook Capital LLC now owns 969 shares of the specialty chemicals company’s stock worth $30,000 after buying an additional 523 shares during the period. TCI Wealth Advisors Inc. lifted its position in Chemours by 19.7% in the third quarter. TCI Wealth Advisors Inc. now owns 2,179 shares of the specialty chemicals company’s stock worth $54,000 after purchasing an additional 358 shares during the period. IFP Advisors Inc lifted its position in Chemours by 9.0% in the third quarter. IFP Advisors Inc now owns 4,610 shares of the specialty chemicals company’s stock worth $60,000 after purchasing an additional 382 shares during the period. Old North State Trust LLC acquired a new stake in Chemours in the third quarter worth approximately $94,000. Finally, Harbor Investment Advisory LLC lifted its position in Chemours by 20.1% in the fourth quarter. Harbor Investment Advisory LLC now owns 3,299 shares of the specialty chemicals company’s stock worth $101,000 after purchasing an additional 551 shares during the period. 71.89% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Chemours
In other news, insider Alisha Bellezza sold 27,716 shares of the company’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $35.47, for a total value of $983,086.52. Following the transaction, the insider now directly owns 43,931 shares of the company’s stock, valued at $1,558,232.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.63% of the stock is currently owned by company insiders.
Chemours Price Performance
Chemours (NYSE:CC – Get Rating) last announced its earnings results on Friday, April 28th. The specialty chemicals company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.36. Chemours had a net margin of 7.45% and a return on equity of 53.44%. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the previous year, the business earned $1.46 EPS. The company’s revenue was down 12.9% on a year-over-year basis. Equities analysts expect that The Chemours Company will post 3.96 earnings per share for the current fiscal year.
Chemours Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Monday, May 15th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.45%. The ex-dividend date of this dividend is Friday, May 12th. Chemours’s dividend payout ratio (DPR) is currently 32.26%.
Analyst Ratings Changes
A number of equities research analysts have weighed in on the company. UBS Group upgraded Chemours from a “neutral” rating to a “buy” rating and upped their target price for the stock from $31.00 to $43.00 in a research report on Tuesday, January 24th. StockNews.com upgraded Chemours from a “hold” rating to a “buy” rating in a research report on Friday. Citigroup upped their price target on Chemours from $33.00 to $35.00 and gave the company a “neutral” rating in a report on Monday, February 13th. Royal Bank of Canada upped their price target on Chemours from $35.00 to $36.00 in a report on Monday, May 1st. Finally, Credit Suisse Group dropped their price target on Chemours from $27.00 to $25.00 in a report on Friday, April 28th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $36.11.
Chemours Company Profile
The Chemours Co is a holding company, which engages in the provision of performance chemicals. The firm delivers solutions, which include a range of industrial and chemical products for markets including coatings, plastics, refrigeration and air conditioning, transportation, semiconductor and consumer electronics, and general industrial.
- Get a free copy of the StockNews.com research report on Chemours (CC)
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