State of New Jersey Common Pension Fund D Purchases 9,691 Shares of The Chemours Company (NYSE:CC)

State of New Jersey Common Pension Fund D grew its position in The Chemours Company (NYSE:CC) by 9.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 111,361 shares of the specialty chemicals company’s stock after buying an additional 9,691 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.07% of Chemours worth $1,882,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CC. Blue Trust Inc. increased its holdings in Chemours by 166.9% during the third quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company’s stock valued at $26,000 after buying an additional 731 shares during the period. GAMMA Investing LLC increased its holdings in shares of Chemours by 99.7% in the 4th quarter. GAMMA Investing LLC now owns 1,532 shares of the specialty chemicals company’s stock valued at $26,000 after acquiring an additional 765 shares during the period. Truvestments Capital LLC purchased a new position in shares of Chemours in the 3rd quarter valued at $35,000. Brooklyn Investment Group bought a new position in shares of Chemours in the 3rd quarter worth $37,000. Finally, Signaturefd LLC lifted its stake in shares of Chemours by 163.7% during the 3rd quarter. Signaturefd LLC now owns 1,959 shares of the specialty chemicals company’s stock worth $40,000 after purchasing an additional 1,216 shares during the last quarter. Institutional investors own 76.26% of the company’s stock.

Chemours Trading Down 3.4 %

NYSE:CC opened at $16.19 on Tuesday. The company has a market capitalization of $2.42 billion, a P/E ratio of 28.40 and a beta of 1.81. The company has a current ratio of 1.68, a quick ratio of 0.92 and a debt-to-equity ratio of 6.70. The Chemours Company has a 12 month low of $15.10 and a 12 month high of $29.59. The firm has a fifty day simple moving average of $18.03 and a 200-day simple moving average of $18.91.

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

Chemours Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.00 annualized dividend and a yield of 6.18%. Chemours’s dividend payout ratio (DPR) is presently 175.44%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CC. Barclays cut their target price on Chemours from $23.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Monday. The Goldman Sachs Group cut their price objective on shares of Chemours from $24.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. BMO Capital Markets decreased their target price on shares of Chemours from $34.00 to $27.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Truist Financial initiated coverage on shares of Chemours in a report on Tuesday, January 28th. They issued a “buy” rating and a $27.00 price target on the stock. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $25.00 price objective on shares of Chemours in a report on Thursday, December 12th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Chemours presently has an average rating of “Hold” and an average price target of $23.11.

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.