Teacher Retirement System of Texas Acquires Shares of 58,994 The Chemours Company (NYSE:CC)

Teacher Retirement System of Texas acquired a new stake in shares of The Chemours Company (NYSE:CC - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 58,994 shares of the specialty chemicals company's stock, valued at approximately $798,000.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Chemours by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 15,223,961 shares of the specialty chemicals company's stock worth $257,285,000 after purchasing an additional 94,885 shares during the period. Ameriprise Financial Inc. increased its stake in Chemours by 23.8% in the fourth quarter. Ameriprise Financial Inc. now owns 4,373,172 shares of the specialty chemicals company's stock valued at $73,907,000 after purchasing an additional 839,849 shares during the last quarter. Millennium Management LLC lifted its position in 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 buying an additional 773,537 shares during the period. Norges Bank acquired a new stake in Chemours in the 4th quarter worth about $30,702,000. Finally, Dimensional Fund Advisors LP grew its holdings in Chemours by 22.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,779,702 shares of the specialty chemicals company's stock valued at $30,077,000 after buying an additional 328,414 shares during the period. Institutional investors and hedge funds own 76.26% of the company's stock.

Chemours Stock Up 3.3%

Shares of NYSE:CC traded up $0.44 during midday trading on Thursday, hitting $13.69. 2,710,492 shares of the company's stock traded hands, compared to its average volume of 2,561,500. The firm's fifty day moving average price is $11.48 and its two-hundred day moving average price is $13.88. The company has a debt-to-equity ratio of 7.01, a quick ratio of 0.83 and a current ratio of 1.75. The Chemours Company has a twelve month low of $9.13 and a twelve month high of $25.38. The company has a market cap of $2.05 billion, a PE ratio of 68.43 and a beta of 1.65.

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

Chemours Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CC. Mizuho increased their price objective on shares of Chemours from $13.00 to $16.00 and gave the stock an "outperform" rating in a report on Tuesday. Barclays cut their price target 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. Truist Financial lowered their price objective on shares of Chemours from $27.00 to $22.00 and set a "buy" rating for the company in a research note on Monday, April 14th. The Goldman Sachs Group cut their target price on Chemours from $21.00 to $14.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 14th. Finally, UBS Group lowered their price target on Chemours from $18.00 to $17.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $17.44.

Insider Activity at Chemours

In other news, CFO Shane Hostetter bought 4,450 shares of Chemours stock in a transaction dated Monday, May 19th. The shares were acquired at an average cost of $11.28 per share, with a total value of $50,196.00. Following the completion of the transaction, the chief financial officer owned 59,694 shares in the company, valued at approximately $673,348.32. This trade represents a 8.06% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Damian Gumpel purchased 7,822 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were purchased at an average cost of $9.95 per share, with a total value of $77,828.90. Following the completion of the acquisition, the insider owned 131,701 shares in the company, valued at approximately $1,310,424.95. This represents a 6.31% increase in their position. The disclosure for this purchase can be found here. Insiders acquired 25,672 shares of company stock valued at $251,573 in the last ninety days. 0.47% of the stock is owned by corporate insiders.

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.