Louisiana State Employees Retirement System Boosts Stock Position in The Chemours Company (NYSE:CC)

Louisiana State Employees Retirement System grew its position in The Chemours Company (NYSE:CC - Free Report) by 69.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 70,400 shares of the specialty chemicals company's stock after buying an additional 28,900 shares during the quarter. Louisiana State Employees Retirement System's holdings in Chemours were worth $953,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Corient Private Wealth LLC increased its position in Chemours by 4.7% during the 4th quarter. Corient Private Wealth LLC now owns 13,428 shares of the specialty chemicals company's stock valued at $227,000 after buying an additional 604 shares in the last quarter. HUB Investment Partners LLC increased its holdings in shares of Chemours by 1.4% in the fourth quarter. HUB Investment Partners LLC now owns 58,250 shares of the specialty chemicals company's stock valued at $984,000 after purchasing an additional 821 shares during the period. UMB Bank n.a. increased its holdings in shares of Chemours by 73.9% in the first quarter. UMB Bank n.a. now owns 2,231 shares of the specialty chemicals company's stock valued at $30,000 after purchasing an additional 948 shares during the period. Itau Unibanco Holding S.A. increased its holdings in shares of Chemours by 39.3% in the fourth quarter. Itau Unibanco Holding S.A. now owns 3,554 shares of the specialty chemicals company's stock valued at $60,000 after purchasing an additional 1,003 shares during the period. Finally, Quadrant Capital Group LLC increased its holdings in shares of Chemours by 100.4% in the fourth quarter. Quadrant Capital Group LLC now owns 2,234 shares of the specialty chemicals company's stock valued at $38,000 after purchasing an additional 1,119 shares during the period. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CC shares. Mizuho raised their target price on Chemours from $13.00 to $16.00 and gave the stock an "outperform" rating in a report on Tuesday. Royal Bank Of Canada increased their price target on Chemours from $14.00 to $15.00 and gave the stock an "outperform" rating in a research report on Thursday, July 3rd. Truist Financial lowered their price target on Chemours from $27.00 to $22.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Wall Street Zen downgraded Chemours from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Finally, Morgan Stanley lowered their price target on Chemours from $22.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Monday, May 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $17.44.

Chemours Trading Down 0.7%

Shares of NYSE CC opened at $13.57 on Friday. The Chemours Company has a twelve month low of $9.13 and a twelve month high of $24.50. The company has a current ratio of 1.75, a quick ratio of 0.83 and a debt-to-equity ratio of 7.01. The stock has a fifty day simple moving average of $11.58 and a 200-day simple moving average of $13.83. The stock has a market capitalization of $2.03 billion, a PE ratio of 67.85 and a beta of 1.65.

Chemours (NYSE:CC - Get Free Report) last released its earnings results on Tuesday, May 6th. The specialty chemicals company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.19 by ($0.06). The company had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.36 billion. Chemours had a net margin of 0.54% and a return on equity of 23.82%. The company's revenue for the quarter was up .4% on a year-over-year basis. During the same quarter last year, the business posted $0.32 earnings per share. On average, equities analysts forecast that The Chemours Company will post 2.03 earnings per share for the current year.

Chemours Dividend Announcement

The company also recently announced a dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, May 19th were given a dividend of $0.0875 per share. This represents a dividend yield of 3.17%. The ex-dividend date was Friday, May 16th. Chemours's dividend payout ratio (DPR) is currently 175.00%.

Insider Transactions at Chemours

In other Chemours news, insider Damian Gumpel bought 7,822 shares of the company's stock in a transaction on Tuesday, June 3rd. The shares were bought at an average price of $9.95 per share, for a total transaction of $77,828.90. Following the transaction, the insider owned 131,701 shares of the company's stock, valued at approximately $1,310,424.95. This trade represents a 6.31% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Shane Hostetter bought 4,450 shares of the company's stock in a transaction on Monday, May 19th. The shares were acquired at an average price of $11.28 per share, for a total transaction of $50,196.00. Following the transaction, the chief financial officer directly owned 59,694 shares in the company, valued at $673,348.32. This trade represents a 8.06% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 25,672 shares of company stock worth $251,573 in the last quarter. Insiders own 0.47% of the company's stock.

About Chemours

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.

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