New York State Teachers Retirement System Has $3,049,000 Position in Chemours Co. (CC)
New York State Teachers Retirement System continued to hold its position in shares of Chemours Co. (NYSE:CC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 370,056 shares of the company’s stock at the end of the second quarter. New York State Teachers Retirement System’s holdings in Chemours were worth $3,049,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of CC. BlackRock Fund Advisors raised its stake in Chemours by 52.9% in the first quarter. BlackRock Fund Advisors now owns 8,170,493 shares of the company’s stock worth $57,193,000 after buying an additional 2,825,161 shares during the period. Spark Investment Management LLC raised its stake in shares of Chemours by 51.1% in the first quarter. Spark Investment Management LLC now owns 792,800 shares of the company’s stock valued at $5,549,000 after buying an additional 268,200 shares during the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Chemours during the first quarter valued at approximately $4,541,000. HBK Investments L P raised its stake in shares of Chemours by 510.6% in the first quarter. HBK Investments L P now owns 434,100 shares of the company’s stock valued at $3,039,000 after buying an additional 363,001 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Chemours by 6,564.4% in the first quarter. JPMorgan Chase & Co. now owns 342,018 shares of the company’s stock valued at $2,395,000 after buying an additional 336,886 shares during the last quarter. 76.63% of the stock is owned by institutional investors and hedge funds.
Chemours Co. (NYSE:CC) traded down 0.27% on Wednesday, reaching $15.02. The company had a trading volume of 1,315,309 shares. Chemours Co. has a one year low of $3.06 and a one year high of $16.32. The company’s 50 day moving average is $14.24 and its 200-day moving average is $10.36. The firm’s market capitalization is $2.73 billion.
Chemours (NYSE:CC) last released its quarterly earnings data on Tuesday, August 9th. The company reported $0.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.10. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.42 billion. Chemours had a positive return on equity of 95.01% and a negative net margin of 1.48%. The company’s quarterly revenue was down 8.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.10) earnings per share. On average, equities research analysts expect that Chemours Co. will post $0.92 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 17th were paid a $0.03 dividend. The ex-dividend date was Monday, August 15th. This represents a $0.12 annualized dividend and a dividend yield of 0.80%. Chemours’s payout ratio is presently -26.09%.
Several equities research analysts recently commented on the company. Jefferies Group upped their target price on 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 upgraded Chemours from a “hold” rating to a “strong-buy” rating and set a $14.00 target price on the stock in a research report on Wednesday, August 17th. TheStreet upgraded Chemours from a “sell” rating to a “hold” rating in a research report on Tuesday, August 9th. Citigroup Inc. cut their target price on Chemours from $11.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, August 11th. Finally, Argus upgraded Chemours from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research report on Wednesday, August 10th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $11.94.
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.
Want to see what other hedge funds are holding CC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chemours Co. (NYSE:CC).
Receive News & Ratings for Chemours Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chemours Co. and related companies with MarketBeat.com's FREE daily email newsletter.