New Mexico Educational Retirement Board boosted its stake in shares of Chemours Co (NYSE:CC) by 34.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 38,900 shares of the specialty chemicals company’s stock after purchasing an additional 10,000 shares during the period. New Mexico Educational Retirement Board’s holdings in Chemours were worth $345,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV grew its position in shares of Chemours by 5.6% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 15,528 shares of the specialty chemicals company’s stock valued at $281,000 after acquiring an additional 829 shares during the period. Amundi Pioneer Asset Management Inc. grew its position in shares of Chemours by 3.3% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 26,526 shares of the specialty chemicals company’s stock valued at $480,000 after acquiring an additional 837 shares during the period. Mason Street Advisors LLC grew its position in shares of Chemours by 1.4% during the 4th quarter. Mason Street Advisors LLC now owns 86,964 shares of the specialty chemicals company’s stock valued at $1,573,000 after acquiring an additional 1,230 shares during the period. State of Alaska Department of Revenue grew its position in shares of Chemours by 4.7% during the 1st quarter. State of Alaska Department of Revenue now owns 28,148 shares of the specialty chemicals company’s stock valued at $249,000 after acquiring an additional 1,274 shares during the period. Finally, Comerica Bank grew its position in shares of Chemours by 1.4% during the 1st quarter. Comerica Bank now owns 96,057 shares of the specialty chemicals company’s stock valued at $1,032,000 after acquiring an additional 1,339 shares during the period. 80.10% of the stock is currently owned by institutional investors.
A number of equities research analysts have recently commented on the company. BMO Capital Markets dropped their target price on Chemours from $33.00 to $21.00 and set an “outperform” rating on the stock in a research report on Thursday, March 26th. Royal Bank of Canada decreased their price target on shares of Chemours from $13.00 to $11.00 and set a “sector perform” rating on the stock in a research note on Wednesday, April 1st. ValuEngine raised shares of Chemours from a “sell” rating to a “hold” rating in a research note on Thursday. Cfra decreased their price target on shares of Chemours from $21.00 to $11.00 and set a “hold” rating on the stock in a research note on Friday, April 3rd. Finally, Jefferies Financial Group lowered shares of Chemours from a “buy” rating to a “hold” rating in a research note on Monday, March 23rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. Chemours presently has an average rating of “Hold” and an average price target of $14.30.
Chemours (NYSE:CC) last released its earnings results on Tuesday, May 5th. The specialty chemicals company reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.25. Chemours had a negative net margin of 0.82% and a positive return on equity of 56.54%. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period last year, the company posted $0.63 EPS. The business’s revenue was down 5.2% on a year-over-year basis. On average, equities analysts anticipate that Chemours Co will post 1.45 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 15th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.38%. Chemours’s dividend payout ratio is currently 39.84%.
In other news, COO Mark Newman purchased 2,500 shares of the business’s stock in a transaction dated Thursday, May 7th. The stock was acquired at an average price of $11.62 per share, for a total transaction of $29,050.00. Following the acquisition, the chief operating officer now directly owns 132,344 shares of the company’s stock, valued at $1,537,837.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.72% of the stock is owned by company insiders.
Chemours Company 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, Fluoroproducts, and Chemical Solutions. The Titanium Technologies segment manufactures and sells titanium dioxide under the Ti-Pure and BaiMax brands for various applications in architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride window profiles, laminate papers used for furniture and building materials, and coated papers and paperboards used for packaging.
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