Louisiana State Employees Retirement System Reduces Stock Holdings in The Chemours Company (NYSE:CC)

Louisiana State Employees Retirement System reduced its holdings in The Chemours Company (NYSE:CC) by 1.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,400 shares of the specialty chemicals company’s stock after selling 700 shares during the period. Louisiana State Employees Retirement System’s holdings in Chemours were worth $841,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in CC. International Assets Investment Management LLC acquired a new position in shares of Chemours in the 3rd quarter valued at $4,110,000. Signaturefd LLC raised its position in Chemours by 163.7% during the third quarter. Signaturefd LLC now owns 1,959 shares of the specialty chemicals company’s stock worth $40,000 after acquiring an additional 1,216 shares during the period. Jade Capital Advisors LLC raised its position in Chemours by 75.0% during the third quarter. Jade Capital Advisors LLC now owns 70,000 shares of the specialty chemicals company’s stock worth $1,422,000 after acquiring an additional 30,000 shares during the period. Blue Trust Inc. raised its position in Chemours by 166.9% during the third quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company’s stock worth $26,000 after acquiring an additional 731 shares during the period. Finally, nVerses Capital LLC acquired a new position in Chemours during the third quarter worth $207,000. 76.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CC. UBS Group reduced their target price on shares of 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 reduced their target price on shares of Chemours from $35.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, October 11th. Barclays reduced their target price on shares of Chemours from $22.00 to $21.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 25th. BMO Capital Markets increased their target price on shares of Chemours from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Monday, October 7th. 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 research report on Tuesday, September 3rd. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Chemours has a consensus rating of “Hold” and a consensus price target of $25.00.

Chemours Stock Performance

NYSE:CC opened at $20.58 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.89 and a debt-to-equity ratio of 5.45. The Chemours Company has a fifty-two week low of $15.10 and a fifty-two week high of $32.70. The stock has a market cap of $3.07 billion, a PE ratio of 25.41 and a beta of 1.75. The firm’s fifty day simple moving average is $18.95 and its 200-day simple moving average is $22.23.

Chemours Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 yield of 4.86%. Chemours’s dividend payout ratio (DPR) is 123.46%.

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.