State of Alaska Department of Revenue Purchases 1,175 Shares of The Chemours Company (NYSE:CC)

State of Alaska Department of Revenue grew its holdings in The Chemours Company (NYSE:CC) by 7.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 17,205 shares of the specialty chemicals company’s stock after purchasing an additional 1,175 shares during the quarter. State of Alaska Department of Revenue’s holdings in Chemours were worth $349,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Matrix Trust Co acquired a new position in Chemours during the 3rd quarter valued at $25,000. Blue Trust Inc. increased its holdings in shares of Chemours by 166.9% during the 3rd quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 731 shares during the period. New Covenant Trust Company N.A. acquired a new position in shares of Chemours during the first quarter valued at about $29,000. Signaturefd LLC lifted its stake in shares of Chemours by 163.7% in the third quarter. Signaturefd LLC now owns 1,959 shares of the specialty chemicals company’s stock valued at $40,000 after buying an additional 1,216 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in Chemours during the first quarter worth about $42,000. 76.26% of the stock is currently owned by institutional investors.

Chemours Stock Down 3.2 %

Shares of NYSE CC opened at $19.80 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.01 and a debt-to-equity ratio of 6.05. The firm has a market capitalization of $2.95 billion, a PE ratio of 39.59 and a beta of 1.75. The firm’s 50-day moving average is $19.04 and its 200-day moving average is $22.08. The Chemours Company has a 1 year low of $15.10 and a 1 year high of $32.70.

Chemours (NYSE:CC) last released its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08. Chemours had a return on equity of 29.48% and a net margin of 1.34%. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. The firm’s revenue was up .9% on a year-over-year basis. Equities analysts expect that The Chemours Company will post 1.32 EPS for the current year.

Chemours Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a $0.25 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a yield of 5.05%. Chemours’s payout ratio is 200.00%.

Analysts Set New Price Targets

CC has been the subject of several research reports. The Goldman Sachs Group reduced their target price on Chemours from $29.00 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, September 3rd. Royal Bank of Canada reduced their price objective on shares of Chemours from $28.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday. BMO Capital Markets upped their target price on shares of Chemours from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. Morgan Stanley dropped their price target on shares of Chemours from $30.00 to $25.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, Barclays lifted their price objective on Chemours from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Tuesday. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $24.88.

About Chemours

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.