State of New Jersey Common Pension Fund D Buys 28,591 Shares of The Chemours Company (NYSE:CC)

State of New Jersey Common Pension Fund D lifted its stake in The Chemours Company (NYSE:CC) by 39.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 101,670 shares of the specialty chemicals company’s stock after acquiring an additional 28,591 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.07% of Chemours worth $2,066,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in CC. Easterly Investment Partners LLC lifted its holdings 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 valued at $1,216,000 after acquiring an additional 20,935 shares during the period. Private Management Group Inc. lifted its stake 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 purchasing an additional 329,037 shares during the period. State of Alaska Department of Revenue lifted its stake in shares of Chemours by 7.3% in 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 purchased a new position in shares of Chemours in the third quarter worth approximately $4,110,000. Finally, Signaturefd LLC increased its holdings in Chemours by 163.7% during 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 last quarter. 76.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Alvenia Scarborough sold 7,500 shares of the business’s stock in a transaction 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 sale, the senior vice president now owns 16,645 shares in the company, valued at approximately $343,552.80. The trade was a 31.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.47% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CC has been the topic of several analyst reports. Barclays lifted their price target on shares of Chemours from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. BMO Capital Markets lifted their target price on Chemours from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Monday, October 7th. UBS Group reduced their price target on Chemours from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Royal Bank of Canada lowered their price objective on Chemours from $28.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Finally, The Goldman Sachs Group reduced their target price on shares of Chemours from $29.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, September 3rd. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $24.88.

Chemours Stock Down 2.3 %

Shares of CC opened at $18.88 on Friday. The Chemours Company has a 12-month low of $15.10 and a 12-month high of $32.70. The company has a current ratio of 1.73, a quick ratio of 0.92 and a debt-to-equity ratio of 6.05. The company has a market capitalization of $2.82 billion, a PE ratio of 37.76 and a beta of 1.75. The business’s 50 day moving average is $19.12 and its 200 day moving average is $21.80.

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

Chemours Dividend Announcement

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

Chemours 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.