Retirement Systems of Alabama Acquires 1,018 Shares of The Chemours Company (NYSE:CC)

Retirement Systems of Alabama grew its holdings in shares of The Chemours Company (NYSE:CC) by 0.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund 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 owned about 0.29% of Chemours worth $13,408,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CC. Commonwealth Equity Services LLC raised its stake in shares of Chemours by 1.8% during the third quarter. Commonwealth Equity Services LLC now owns 77,617 shares of the specialty chemicals company’s stock valued at $2,177,000 after acquiring an additional 1,360 shares during the last quarter. Legacy Financial Group LLC bought a new position in Chemours during the third quarter worth $29,000. Bank of New York Mellon Corp raised its stake in Chemours by 11.0% during the third quarter. Bank of New York Mellon Corp now owns 6,196,063 shares of the specialty chemicals company’s stock worth $173,800,000 after buying an additional 612,071 shares during the last quarter. Brown Advisory Inc. raised its stake in Chemours by 3.4% during the third quarter. Brown Advisory Inc. now owns 15,801 shares of the specialty chemicals company’s stock worth $443,000 after buying an additional 514 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Chemours by 4.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 78,284 shares of the specialty chemicals company’s stock worth $2,196,000 after buying an additional 3,325 shares during the last quarter. Institutional investors own 76.26% of the company’s stock.

Analysts Set New Price Targets

CC has been the subject of a number of analyst reports. 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 research note on Tuesday, April 2nd. Barclays lowered their target price 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. Finally, 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 research note on Tuesday, April 9th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Chemours currently has a consensus rating of “Hold” and an average target price of $31.63.

Chemours Trading Down 2.9 %

NYSE: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 stock has a market capitalization of $3.87 billion, a price-to-earnings ratio of -16.75 and a beta of 2.00. The firm has a fifty day simple moving average of $26.66 and a two-hundred day simple moving average of $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 data on Tuesday, April 30th. The specialty chemicals company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.07. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Chemours had a negative net margin of 3.80% and a positive return on equity of 51.73%. The business’s revenue was down 12.1% on a year-over-year basis. During the same period last year, the company earned $0.98 earnings per share. Analysts expect that The Chemours Company will post 2.23 EPS for the current fiscal year.

Chemours Announces Dividend

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