State of Alaska Department of Revenue Purchases 65,751 Shares of The Chemours Company (NYSE:CC)

State of Alaska Department of Revenue boosted its position in shares of The Chemours Company (NYSE:CC - Free Report) by 386.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 82,786 shares of the specialty chemicals company's stock after buying an additional 65,751 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.06% of Chemours worth $1,120,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd purchased a new stake in Chemours in the 4th quarter worth approximately $996,000. Amalgamated Bank raised its holdings in shares of Chemours by 4.6% during the fourth quarter. Amalgamated Bank now owns 72,714 shares of the specialty chemicals company's stock valued at $1,229,000 after acquiring an additional 3,188 shares in the last quarter. Heritage Investors Management Corp lifted its stake in Chemours by 1.1% in the fourth quarter. Heritage Investors Management Corp now owns 105,322 shares of the specialty chemicals company's stock worth $1,780,000 after acquiring an additional 1,174 shares during the period. Proficio Capital Partners LLC purchased a new position in Chemours during the 4th quarter valued at $334,000. Finally, LGT Fund Management Co Ltd. raised its holdings in Chemours by 12.3% in the 4th quarter. LGT Fund Management Co Ltd. now owns 215,481 shares of the specialty chemicals company's stock worth $3,642,000 after purchasing an additional 23,553 shares in the last quarter. 76.26% of the stock is currently owned by institutional investors.

Chemours Stock Up 0.1%

Chemours stock traded up $0.02 during mid-day trading on Friday, hitting $11.70. The company had a trading volume of 24,789,831 shares, compared to its average volume of 2,402,939. The Chemours Company has a 12 month low of $9.13 and a 12 month high of $25.54. The company has a market capitalization of $1.75 billion, a PE ratio of 58.48 and a beta of 1.64. The stock's 50 day moving average price is $11.22 and its two-hundred day moving average price is $14.39. The company has a current ratio of 1.75, a quick ratio of 0.83 and a debt-to-equity ratio of 7.01.

Chemours (NYSE:CC - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The specialty chemicals company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.06). Chemours had a return on equity of 23.82% and a net margin of 0.54%. The company had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.36 billion. During the same period in the prior year, the firm earned $0.32 EPS. Chemours's revenue for the quarter was up .4% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Chemours Company will post 2.03 earnings per share for the current fiscal year.

Chemours Announces Dividend

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

Insider Activity

In related news, insider Damian Gumpel acquired 13,400 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was purchased at an average cost of $9.22 per share, with a total value of $123,548.00. Following the completion of the acquisition, the insider now directly owns 123,879 shares of the company's stock, valued at approximately $1,142,164.38. This trade represents a 12.13% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Shane Hostetter acquired 4,450 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were bought at an average price of $11.28 per share, for a total transaction of $50,196.00. Following the transaction, the chief financial officer now owns 59,694 shares of the company's stock, valued at $673,348.32. This trade represents a 8.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 25,672 shares of company stock worth $251,573 over the last 90 days. 0.47% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CC. Barclays cut their target price on shares of Chemours from $16.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 28th. Wall Street Zen cut Chemours from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. UBS Group decreased their target price on Chemours from $18.00 to $17.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Morgan Stanley dropped 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. Finally, Royal Bank Of Canada decreased their price objective on Chemours from $17.00 to $14.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $17.22.

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.