52,061 Shares in The Chemours Company (NYSE:CC) Purchased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System acquired a new position in The Chemours Company (NYSE:CC - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 52,061 shares of the specialty chemicals company's stock, valued at approximately $704,000.

Several other institutional investors also recently bought and sold shares of CC. LPL Financial LLC lifted its holdings in Chemours by 11.2% in the fourth quarter. LPL Financial LLC now owns 68,797 shares of the specialty chemicals company's stock valued at $1,163,000 after acquiring an additional 6,937 shares during the last quarter. Franklin Resources Inc. purchased a new stake in Chemours in the fourth quarter valued at approximately $283,000. Wells Fargo & Company MN raised its position in Chemours by 7.0% in the fourth quarter. Wells Fargo & Company MN now owns 84,369 shares of the specialty chemicals company's stock valued at $1,426,000 after purchasing an additional 5,540 shares during the period. Invesco Ltd. raised its position in Chemours by 141.5% in the fourth quarter. Invesco Ltd. now owns 1,020,001 shares of the specialty chemicals company's stock valued at $17,238,000 after purchasing an additional 597,638 shares during the period. Finally, Renaissance Technologies LLC raised its position in Chemours by 7.3% in the fourth quarter. Renaissance Technologies LLC now owns 288,400 shares of the specialty chemicals company's stock valued at $4,874,000 after purchasing an additional 19,500 shares during the period. 76.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CC shares. Barclays cut their price objective on Chemours from $16.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 28th. Morgan Stanley dropped their target price on shares of Chemours from $22.00 to $15.00 and set an "equal weight" rating for the company in a report on Monday, May 12th. Mizuho raised their target price on shares of Chemours from $13.00 to $16.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. The Goldman Sachs Group decreased their price target on shares of Chemours from $21.00 to $14.00 and set a "neutral" rating on the stock in a report on Wednesday, May 14th. Finally, Royal Bank Of Canada lifted their price target on shares of Chemours from $14.00 to $15.00 and gave the company an "outperform" rating in a report on Thursday, July 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $17.38.

Insider Transactions at Chemours

In other Chemours news, CFO Shane Hostetter acquired 4,450 shares of the company's stock in a transaction that occurred on Monday, May 19th. The stock was acquired at an average price of $11.28 per share, for a total transaction of $50,196.00. Following the acquisition, the chief financial officer directly owned 59,694 shares in the company, valued at $673,348.32. This represents a 8.06% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Damian Gumpel acquired 13,400 shares of Chemours stock in a transaction dated Monday, June 2nd. The shares were bought at an average cost of $9.22 per share, with a total value of $123,548.00. Following the transaction, the insider owned 123,879 shares in the company, valued at approximately $1,142,164.38. This trade represents a 12.13% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 29,740 shares of company stock valued at $300,633. 0.47% of the stock is currently owned by insiders.

Chemours Price Performance

CC stock traded down $0.48 during midday trading on Friday, reaching $14.59. 4,347,227 shares of the company's stock traded hands, compared to its average volume of 4,548,641. The company has a quick ratio of 0.83, a current ratio of 1.68 and a debt-to-equity ratio of 17.16. The company has a market cap of $2.18 billion, a price-to-earnings ratio of -5.21 and a beta of 1.61. The Chemours Company has a 1-year low of $9.13 and a 1-year high of $22.38. The company has a 50-day simple moving average of $12.57 and a two-hundred day simple moving average of $13.06.

Chemours (NYSE:CC - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The specialty chemicals company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.12. Chemours had a negative net margin of 7.19% and a positive return on equity of 35.14%. The business had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same quarter last year, the firm earned $0.38 EPS. Chemours's quarterly revenue was up 5.0% compared to the same quarter last year. On average, analysts anticipate that The Chemours Company will post 2.03 earnings per share for the current year.

Chemours Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.0875 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.35 annualized dividend and a yield of 2.4%. Chemours's payout ratio is presently -12.50%.

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.