Teacher Retirement System of Texas Has $1.48 Million Stock Position in The Chemours Company (NYSE:CC)

Posted by on Jun 8th, 2023

Teacher Retirement System of Texas trimmed its position in The Chemours Company (NYSE:CC – Get Rating) by 33.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,393 shares of the specialty chemicals company’s stock after selling 24,386 shares during the quarter. Teacher Retirement System of Texas’ holdings in Chemours were worth $1,482,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of CC. Lindbrook Capital LLC lifted its stake in shares of Chemours by 117.3% in the fourth quarter. Lindbrook Capital LLC now owns 969 shares of the specialty chemicals company’s stock worth $30,000 after buying an additional 523 shares during the last quarter. Quadrant Capital Group LLC increased its position in Chemours by 67.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,839 shares of the specialty chemicals company’s stock worth $56,000 after acquiring an additional 739 shares during the period. IFP Advisors Inc increased its position in Chemours by 9.0% during the third quarter. IFP Advisors Inc now owns 4,610 shares of the specialty chemicals company’s stock worth $60,000 after acquiring an additional 382 shares during the period. CoreCap Advisors LLC bought a new position in Chemours during the fourth quarter worth $60,000. Finally, Itau Unibanco Holding S.A. increased its position in Chemours by 35.6% during the fourth quarter. Itau Unibanco Holding S.A. now owns 2,935 shares of the specialty chemicals company’s stock worth $90,000 after acquiring an additional 770 shares during the period. 71.89% of the stock is currently owned by institutional investors and hedge funds.

Chemours Stock Down 1.6 %

Shares of NYSE CC opened at $34.16 on Thursday. The firm’s 50-day simple moving average is $29.34 and its 200 day simple moving average is $31.33. The company has a market cap of $5.10 billion, a price-to-earnings ratio of 11.02, a price-to-earnings-growth ratio of 1.09 and a beta of 1.87. The company has a quick ratio of 0.98, a current ratio of 1.84 and a debt-to-equity ratio of 2.93. The Chemours Company has a 12-month low of $23.58 and a 12-month high of $44.42.

Chemours (NYSE:CC – Get Rating) last issued its quarterly earnings results on Friday, April 28th. The specialty chemicals company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.36. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.46 billion. Chemours had a net margin of 7.45% and a return on equity of 53.44%. The firm’s quarterly revenue was down 12.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.46 EPS. On average, research analysts expect that The Chemours Company will post 3.99 earnings per share for the current fiscal year.

Chemours Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Monday, May 15th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, May 12th. This represents a $1.00 dividend on an annualized basis and a yield of 2.93%. Chemours’s payout ratio is presently 32.26%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CC. StockNews.com lowered shares of Chemours from a “buy” rating to a “hold” rating in a research report on Saturday, May 20th. Credit Suisse Group lowered their price target on shares of Chemours from $27.00 to $25.00 in a report on Friday, April 28th. BMO Capital Markets boosted their price target on shares of Chemours from $54.00 to $64.00 in a report on Monday. Royal Bank of Canada boosted their price target on shares of Chemours from $35.00 to $36.00 in a report on Monday, May 1st. Finally, Citigroup boosted their price target on shares of Chemours from $33.00 to $35.00 and gave the company a “neutral” rating in a report on Monday, February 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $38.67.

Chemours Company Profile

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The Chemours Co is a holding company, which engages in the provision of performance chemicals. The firm delivers solutions, which include a range of industrial and chemical products for markets including coatings, plastics, refrigeration and air conditioning, transportation, semiconductor and consumer electronics, and general industrial.

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Institutional Ownership by Quarter for Chemours (NYSE:CC)

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