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

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

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Chemours by 8.3% during the first quarter. Vanguard Group Inc. now owns 16,487,008 shares of the specialty chemicals company's stock worth $223,069,000 after purchasing an additional 1,263,047 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Chemours by 23.8% during the fourth quarter. Ameriprise Financial Inc. now owns 4,373,172 shares of the specialty chemicals company's stock worth $73,907,000 after purchasing an additional 839,849 shares during the period. Millennium Management LLC lifted its holdings in shares of Chemours by 44.6% during the fourth quarter. Millennium Management LLC now owns 2,507,262 shares of the specialty chemicals company's stock worth $42,373,000 after purchasing an additional 773,537 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Chemours by 22.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,779,702 shares of the specialty chemicals company's stock worth $30,077,000 after purchasing an additional 328,414 shares during the period. Finally, Vision One Management Partners LP lifted its holdings in Chemours by 12.1% in the fourth quarter. Vision One Management Partners LP now owns 1,558,498 shares of the specialty chemicals company's stock valued at $26,339,000 after acquiring an additional 168,148 shares during the period. 76.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CC has been the subject of a number of recent analyst reports. Wall Street Zen downgraded Chemours from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Morgan Stanley reduced their target price on Chemours from $22.00 to $15.00 and set an "equal weight" rating for the company in a report on Monday, May 12th. Barclays reduced their target price on Chemours from $16.00 to $13.00 and set an "equal weight" rating for the company in a report on Wednesday, May 28th. Royal Bank Of Canada raised their target price on Chemours from $14.00 to $15.00 and gave the company an "outperform" rating in a report on Thursday, July 3rd. Finally, Mizuho raised their target price on Chemours from $13.00 to $16.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, Chemours currently has a consensus rating of "Hold" and an average price target of $17.38.

Insider Activity

In related news, CEO Denise Dignam acquired 4,068 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was purchased at an average price of $12.06 per share, for a total transaction of $49,060.08. Following the transaction, the chief executive officer owned 191,546 shares in the company, valued at $2,310,044.76. This trade represents a 2.17% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Damian Gumpel acquired 13,400 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The shares were bought at an average price 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 $1,142,164.38. This represents a 12.13% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 29,740 shares of company stock worth $300,633 over the last 90 days. 0.47% of the stock is currently owned by corporate insiders.

Chemours Price Performance

Shares of CC stock traded down $0.48 during mid-day trading on Friday, reaching $14.59. The stock had a trading volume of 4,347,227 shares, compared to its average volume of 3,591,316. The Chemours Company has a 12-month low of $9.13 and a 12-month high of $22.38. The company has a market cap of $2.18 billion, a P/E ratio of -5.21 and a beta of 1.61. The business has a 50-day simple moving average of $12.50 and a 200 day simple moving average of $13.12. The company has a current ratio of 1.68, a quick ratio of 0.83 and a debt-to-equity ratio of 17.16.

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

Chemours Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 15th will be given a $0.0875 dividend. The ex-dividend date is Friday, August 15th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 2.4%. Chemours's dividend payout ratio (DPR) is currently -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.