66,500 Shares in The Chemours Company $CC Purchased by Louisiana State Employees Retirement System

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

A number of other hedge funds also recently added to or reduced their stakes in the stock. Atlas Capital Advisors Inc. acquired a new stake in shares of Chemours in the 4th quarter worth approximately $26,000. Aster Capital Management DIFC Ltd purchased a new position in Chemours in the 4th quarter valued at approximately $28,000. Covestor Ltd raised its holdings in Chemours by 204.7% during the fourth quarter. Covestor Ltd now owns 2,602 shares of the specialty chemicals company’s stock worth $31,000 after purchasing an additional 1,748 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in Chemours during the fourth quarter worth $31,000. Finally, Rothschild Investment LLC boosted its position in Chemours by 87.0% during the fourth quarter. Rothschild Investment LLC now owns 2,698 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 1,255 shares in the last quarter. 76.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on CC. UBS Group upped their target price on Chemours from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, May 8th. Zacks Research raised Chemours from a “strong sell” rating to a “hold” rating in a research note on Friday, April 24th. Royal Bank Of Canada boosted their price objective on shares of Chemours from $26.00 to $29.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Truist Financial increased 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. Finally, Alembic Global Advisors restated an “overweight” rating and set a $30.00 target price on shares of Chemours in a report on Wednesday, May 13th. Six research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $24.10.

Chemours Price Performance

CC stock opened at $18.98 on Friday. The stock’s 50 day moving average price is $22.60 and its 200 day moving average price is $19.24. 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.

Chemours (NYSE:CC) last released its quarterly earnings results on Tuesday, May 5th. The specialty chemicals company reported $0.05 earnings per share 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 company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter last year, the business posted $0.13 earnings per share. Chemours’s revenue was up 1.0% compared to the same quarter last year. On average, sell-side analysts expect that The Chemours Company will post 1.07 earnings per share for the current fiscal year.

Chemours Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Sunday, May 17th were given a dividend of $0.0875 per share. This represents a $0.35 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Friday, May 15th. Chemours’s dividend payout ratio (DPR) is currently -13.26%.

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.