South Dakota Investment Council Buys 15,900 Shares of The Chemours Company (NYSE:CC)

South Dakota Investment Council lifted its holdings in The Chemours Company (NYSE:CC) by 37.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 58,496 shares of the specialty chemicals company’s stock after acquiring an additional 15,900 shares during the quarter. South Dakota Investment Council’s holdings in Chemours were worth $1,845,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CC. Bank of New York Mellon Corp lifted its stake in Chemours by 11.0% in the third quarter. Bank of New York Mellon Corp now owns 6,196,063 shares of the specialty chemicals company’s stock valued at $173,800,000 after purchasing an additional 612,071 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Chemours by 10.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,160,740 shares of the specialty chemicals company’s stock valued at $88,659,000 after purchasing an additional 286,076 shares during the last quarter. Deutsche Bank AG lifted its stake in Chemours by 4,407.9% in the third quarter. Deutsche Bank AG now owns 1,759,419 shares of the specialty chemicals company’s stock valued at $49,352,000 after purchasing an additional 1,720,389 shares during the last quarter. American Century Companies Inc. lifted its stake in Chemours by 0.7% in the third quarter. American Century Companies Inc. now owns 1,459,463 shares of the specialty chemicals company’s stock valued at $40,938,000 after purchasing an additional 10,075 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in Chemours by 2.2% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,381,801 shares of the specialty chemicals company’s stock valued at $43,582,000 after purchasing an additional 29,475 shares during the last quarter. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Analyst Upgrades and Downgrades

CC has been the topic of a number of analyst reports. Barclays lowered their target price on shares of Chemours from $32.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 2nd. UBS Group boosted their target price on shares of Chemours from $21.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. Finally, BMO Capital Markets raised shares of Chemours from an “underperform” rating to an “outperform” rating and boosted their target price for the company from $19.00 to $34.00 in a report on Tuesday, April 9th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Chemours has a consensus rating of “Hold” and an average target price of $30.89.

Chemours Trading Up 1.3 %

Chemours stock opened at $27.08 on Thursday. The Chemours Company has a fifty-two week low of $15.10 and a fifty-two week high of $39.05. The firm’s fifty day moving average price is $26.72 and its 200-day moving average price is $27.80. The company has a quick ratio of 1.00, a current ratio of 1.54 and a debt-to-equity ratio of 5.40.

Chemours (NYSE:CC) last released its quarterly earnings results on Wednesday, March 27th. The specialty chemicals company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.02. Chemours had a negative net margin of 3.80% and a positive return on equity of 51.73%. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.37 billion. As a group, analysts forecast that The Chemours Company will post 2.23 earnings per share for the current year.

Chemours Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, February 26th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.69%. Chemours’s dividend payout ratio (DPR) is currently -64.52%.

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.