State of New Jersey Common Pension Fund D Raises Position in The Chemours Company (NYSE:CC)

State of New Jersey Common Pension Fund D grew its stake in The Chemours Company (NYSE:CC) by 39.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 101,670 shares of the specialty chemicals company’s stock after purchasing an additional 28,591 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Chemours were worth $2,066,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CC. Easterly Investment Partners LLC lifted its position in Chemours by 53.8% in the third quarter. Easterly Investment Partners LLC now owns 59,831 shares of the specialty chemicals company’s stock worth $1,216,000 after buying an additional 20,935 shares during the last quarter. Private Management Group Inc. lifted its holdings in shares of Chemours by 72.0% in the 3rd quarter. Private Management Group Inc. now owns 785,809 shares of the specialty chemicals company’s stock worth $15,968,000 after acquiring an additional 329,037 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Chemours by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 17,205 shares of the specialty chemicals company’s stock worth $349,000 after purchasing an additional 1,175 shares during the period. International Assets Investment Management LLC bought a new position in Chemours during the 3rd quarter valued at about $4,110,000. Finally, Signaturefd LLC raised its position in Chemours by 163.7% in the 3rd quarter. Signaturefd LLC now owns 1,959 shares of the specialty chemicals company’s stock worth $40,000 after purchasing an additional 1,216 shares during the period. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Chemours Stock Down 2.3 %

NYSE:CC opened at $18.88 on Friday. The company has a debt-to-equity ratio of 6.05, a current ratio of 1.73 and a quick ratio of 0.92. The Chemours Company has a 1-year low of $15.10 and a 1-year high of $32.70. The company has a 50-day moving average of $19.12 and a 200 day moving average of $21.80. The firm has a market cap of $2.82 billion, a PE ratio of 37.76 and a beta of 1.75.

Chemours (NYSE:CC) last announced its quarterly earnings results on Monday, November 4th. The specialty chemicals company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.08. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Chemours had a net margin of 1.34% and a return on equity of 29.48%. The company’s revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.64 EPS. As a group, research analysts anticipate that The Chemours Company will post 1.35 EPS for the current fiscal year.

Chemours Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be issued a $0.25 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.30%. Chemours’s dividend payout ratio is presently 200.00%.

Insider Transactions at Chemours

In other news, SVP Alvenia Scarborough sold 7,500 shares of Chemours stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $20.64, for a total value of $154,800.00. Following the transaction, the senior vice president now owns 16,645 shares of the company’s stock, valued at $343,552.80. The trade was a 31.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

CC has been the topic of a number of analyst reports. BMO Capital Markets upped their target price on Chemours from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. The Goldman Sachs Group reduced their target price on Chemours from $29.00 to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 3rd. Royal Bank of Canada lowered their target price on shares of Chemours from $28.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Morgan Stanley reduced their price target on shares of Chemours from $30.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. Finally, Barclays boosted their price objective on shares of Chemours from $21.00 to $23.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Chemours presently has an average rating of “Hold” and a consensus price target 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.