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

State of New Jersey Common Pension Fund D raised its stake in The Chemours Company (NYSE:CC - Free Report) by 39.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 approximately 0.07% of Chemours worth $2,066,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of CC. Marshall Wace LLP increased its stake in shares of Chemours by 23.8% in the second quarter. Marshall Wace LLP now owns 7,009,868 shares of the specialty chemicals company's stock worth $158,213,000 after purchasing an additional 1,347,710 shares in the last quarter. Khrom Capital Management LLC grew its stake in Chemours by 54.6% in the 2nd quarter. Khrom Capital Management LLC now owns 3,456,626 shares of the specialty chemicals company's stock valued at $78,016,000 after buying an additional 1,220,967 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in Chemours by 6.8% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,824,301 shares of the specialty chemicals company's stock valued at $63,744,000 after acquiring an additional 178,625 shares during the period. American Century Companies Inc. lifted its position in shares of Chemours by 26.7% during the second quarter. American Century Companies Inc. now owns 1,811,957 shares of the specialty chemicals company's stock worth $40,896,000 after acquiring an additional 382,100 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Chemours by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 1,606,453 shares of the specialty chemicals company's stock worth $36,258,000 after acquiring an additional 22,209 shares during the period. 76.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CC. UBS Group lowered their price target on shares of Chemours from $30.00 to $28.00 and set a "buy" rating on the stock in a report on Tuesday, August 6th. Morgan Stanley cut their price target on shares of Chemours from $30.00 to $25.00 and set an "equal weight" rating for the company in a report on Tuesday, November 5th. Barclays upped their price target on shares of Chemours from $21.00 to $23.00 and gave the stock an "equal weight" rating in a report on Tuesday, November 5th. Royal Bank of Canada reduced their target price on Chemours from $28.00 to $25.00 and set an "outperform" rating for the company in a research report on Wednesday, November 6th. Finally, The Goldman Sachs Group dropped their price target on Chemours from $29.00 to $23.00 and set a "neutral" rating for the company in a research report on Tuesday, September 3rd. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Chemours currently has an average rating of "Hold" and a consensus price target of $24.88.

Insiders Place Their Bets

In other news, SVP Alvenia Scarborough sold 7,500 shares of the firm's 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 in the company, valued at approximately $343,552.80. This trade represents a 31.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.47% of the stock is currently owned by insiders.

Chemours Price Performance

Shares of Chemours stock traded down $0.18 during trading on Friday, hitting $18.89. 1,889,033 shares of the stock traded hands, compared to its average volume of 1,575,935. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of 37.78 and a beta of 1.75. The company has a quick ratio of 0.92, a current ratio of 1.73 and a debt-to-equity ratio of 6.05. The Chemours Company has a 52 week low of $15.10 and a 52 week high of $32.70. The firm's fifty day moving average is $19.12 and its 200-day moving average is $21.77.

Chemours (NYSE:CC - Get Free Report) last issued its quarterly earnings results 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. The business had revenue of $1.50 billion for 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 business's quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the business earned $0.64 earnings per share. Research analysts expect that The Chemours Company will post 1.35 EPS for the current fiscal year.

Chemours Dividend Announcement

The firm also recently declared 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. This represents a $1.00 annualized dividend and a yield of 5.29%. The ex-dividend date of this dividend is Friday, November 15th. Chemours's dividend payout ratio is presently 200.00%.

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.