State Board of Administration of Florida Retirement System lowered its stake in Chemours Co. (NYSE:CC) by 44.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 131,303 shares of the company’s stock after selling 103,384 shares during the period. State Board of Administration of Florida Retirement System owned 0.07% of Chemours worth $1,082,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Seaward Management Limited Partnership boosted its stake in Chemours by 16.3% in the second quarter. Seaward Management Limited Partnership now owns 12,568 shares of the company’s stock valued at $103,000 after buying an additional 1,765 shares in the last quarter. Williams Jones & Associates LLC raised its position in shares of Chemours by 7.8% in the first quarter. Williams Jones & Associates LLC now owns 16,226 shares of the company’s stock valued at $114,000 after buying an additional 1,169 shares during the last quarter. Howard Hughes Medical Institute acquired a new position in shares of Chemours during the first quarter valued at $146,000. First Republic Investment Management Inc. raised its position in shares of Chemours by 2.7% in the first quarter. First Republic Investment Management Inc. now owns 21,397 shares of the company’s stock valued at $149,000 after buying an additional 570 shares during the last quarter. Finally, Kennedy Capital Management Inc. raised its position in shares of Chemours by 41.8% in the first quarter. Kennedy Capital Management Inc. now owns 21,662 shares of the company’s stock valued at $152,000 after buying an additional 6,384 shares during the last quarter. Institutional investors and hedge funds own 76.63% of the company’s stock.
Chemours Co. (NYSE:CC) traded up 1.70% during trading on Thursday, hitting $14.99. 2,640,801 shares of the stock were exchanged. Chemours Co. has a 1-year low of $3.06 and a 1-year high of $15.04. The stock’s market cap is $2.72 billion. The firm’s 50 day moving average price is $12.47 and its 200-day moving average price is $9.49.
Chemours (NYSE:CC) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.10. The company earned $1.38 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Chemours had a positive return on equity of 95.01% and a negative net margin of 1.48%. Chemours’s revenue was down 8.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.10) EPS. On average, analysts anticipate that Chemours Co. will post $0.92 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 17th were given a $0.03 dividend. The ex-dividend date of this dividend was Monday, August 15th. This represents a $0.12 annualized dividend and a dividend yield of 0.80%. Chemours’s dividend payout ratio is presently -26.09%.
Several equities analysts recently weighed in on the stock. Jefferies Group raised their price objective on shares of Chemours from $10.00 to $15.00 and gave the company a “hold” rating in a research report on Thursday, September 1st. Zacks Investment Research raised shares of Chemours from a “hold” rating to a “strong-buy” rating and set a $14.00 price objective on the stock in a research report on Wednesday, August 17th. Citigroup Inc. cut their price objective on shares of Chemours from $11.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, August 11th. TheStreet raised shares of Chemours from a “sell” rating to a “hold” rating in a research report on Tuesday, August 9th. Finally, Argus raised shares of Chemours from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research report on Wednesday, August 10th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Chemours has a consensus rating of “Hold” and an average price target of $11.94.
Chemours Company Profile
The Chemours Company is a provider of performance chemicals. The Company operates through three segments: Titanium Technologies, Fluoroproducts and Chemical Solutions. The Company’s Titanium Technologies segment manufactures titanium dioxide (TiO2), which is a pigment used to deliver whiteness, opacity, brightness and protection from sunlight in applications, such as architectural and industrial coatings, plastic packaging, polyvinyl chloride (PVC) window profiles, laminate papers, coated paper and coated paperboard used for packaging.
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