California Public Employees Retirement System Has $2.93 Million Holdings in The Chemours Company (NYSE:CC)

California Public Employees Retirement System trimmed its holdings in The Chemours Company (NYSE:CC) by 8.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 173,282 shares of the specialty chemicals company’s stock after selling 15,758 shares during the quarter. California Public Employees Retirement System owned 0.12% of Chemours worth $2,928,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Strategic Financial Concepts LLC acquired a new stake in Chemours in the 4th quarter worth $357,000. Two Sigma Advisers LP raised its holdings in Chemours by 9.4% in the 3rd quarter. Two Sigma Advisers LP now owns 503,100 shares of the specialty chemicals company’s stock valued at $10,223,000 after acquiring an additional 43,200 shares in the last quarter. Entropy Technologies LP bought a new stake in shares of Chemours in the 4th quarter worth approximately $266,000. Twelve Points Wealth Management LLC grew its holdings in shares of Chemours by 42.8% during the 4th quarter. Twelve Points Wealth Management LLC now owns 78,325 shares of the specialty chemicals company’s stock worth $1,324,000 after purchasing an additional 23,490 shares in the last quarter. Finally, Sei Investments Co. increased its position in shares of Chemours by 779.5% during the fourth quarter. Sei Investments Co. now owns 174,555 shares of the specialty chemicals company’s stock valued at $2,950,000 after purchasing an additional 154,709 shares during the period. Institutional investors own 76.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CC. BMO Capital Markets reduced their price objective on shares of Chemours from $34.00 to $27.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Mizuho upgraded Chemours from a “neutral” rating to an “outperform” rating and set a $19.00 price target on the stock in a research report on Thursday, March 27th. Morgan Stanley reduced their target price on shares of Chemours from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Barclays dropped their target price on shares of Chemours from $19.00 to $16.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 1st. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $25.00 target price on shares of Chemours in a research note on Thursday, December 12th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Chemours has a consensus rating of “Moderate Buy” and a consensus target price of $22.56.

Chemours Price Performance

CC opened at $9.59 on Wednesday. The company has a debt-to-equity ratio of 6.70, a current ratio of 1.68 and a quick ratio of 0.92. The company’s 50 day simple moving average is $15.12 and its 200-day simple moving average is $17.82. The Chemours Company has a one year low of $9.47 and a one year high of $29.21. The stock has a market capitalization of $1.43 billion, a P/E ratio of 16.82 and a beta of 1.84.

Chemours (NYSE:CC) last released its earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.10 by $0.01. Chemours had a return on equity of 26.54% and a net margin of 1.51%. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Sell-side analysts anticipate that The Chemours Company will post 2.03 earnings per share for the current fiscal year.

Chemours Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 10.43%. The ex-dividend date of this dividend was Friday, February 28th. Chemours’s dividend payout ratio (DPR) is presently 175.44%.

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, 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.