Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 1,081 Shares of The Chemours Company (NYSE:CC)

Posted by Defense World Staff on Aug 18th, 2023

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its holdings in The Chemours Company (NYSE:CC – Free Report) by 1.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 66,811 shares of the specialty chemicals company’s stock after selling 1,081 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Chemours were worth $2,000,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. raised its position in Chemours by 29.0% in the 1st quarter. BlackRock Inc. now owns 18,075,740 shares of the specialty chemicals company’s stock valued at $569,023,000 after purchasing an additional 4,060,250 shares during the last quarter. Vanguard Group Inc. raised its position in Chemours by 5.5% in the 3rd quarter. Vanguard Group Inc. now owns 17,741,300 shares of the specialty chemicals company’s stock valued at $437,324,000 after purchasing an additional 932,063 shares during the last quarter. State Street Corp raised its position in Chemours by 5.8% in the 1st quarter. State Street Corp now owns 4,618,424 shares of the specialty chemicals company’s stock valued at $145,388,000 after purchasing an additional 254,243 shares during the last quarter. JPMorgan Chase & Co. raised its position in Chemours by 68.7% in the 4th quarter. JPMorgan Chase & Co. now owns 2,885,061 shares of the specialty chemicals company’s stock valued at $88,340,000 after purchasing an additional 1,174,536 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Chemours by 5.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,340,813 shares of the specialty chemicals company’s stock valued at $71,677,000 after purchasing an additional 112,091 shares during the last quarter. Institutional investors own 70.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. BMO Capital Markets cut their price objective on Chemours from $64.00 to $53.00 and set an “outperform” rating for the company in a research report on Wednesday, August 2nd. TheStreet cut Chemours from a “b” rating to a “c+” rating in a research note on Friday, July 28th. UBS Group lifted their price objective on Chemours from $41.00 to $43.00 in a research note on Tuesday, June 13th. Royal Bank of Canada boosted their target price on Chemours from $37.00 to $40.00 and gave the company a “sector perform” rating in a research note on Monday, July 31st. Finally, StockNews.com began coverage on Chemours in a research note on Thursday. They issued a “hold” rating for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $38.22.

Read Our Latest Report on Chemours

Insider Buying and Selling at Chemours

In other news, SVP Matthew S. Abbott sold 8,912 shares of the company’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $34.20, for a total value of $304,790.40. Following the transaction, the senior vice president now owns 29,869 shares of the company’s stock, valued at $1,021,519.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Matthew S. Abbott sold 8,912 shares of the company’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $34.20, for a total value of $304,790.40. Following the transaction, the senior vice president now owns 29,869 shares of the company’s stock, valued at $1,021,519.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Newman bought 7,661 shares of the firm’s stock in a transaction dated Friday, June 9th. The stock was purchased at an average cost of $34.63 per share, for a total transaction of $265,300.43. Following the transaction, the chief executive officer now directly owns 266,955 shares of the company’s stock, valued at approximately $9,244,651.65. The disclosure for this purchase can be found here. Corporate insiders own 1.63% of the company’s stock.

Chemours Stock Performance

CC opened at $32.44 on Friday. The Chemours Company has a 52-week low of $23.58 and a 52-week high of $39.05. The firm has a market capitalization of $4.80 billion, a PE ratio of -47.71, a PEG ratio of 1.28 and a beta of 1.96. The company has a debt-to-equity ratio of 4.45, a quick ratio of 0.88 and a current ratio of 1.54. The business’s 50-day simple moving average is $35.87 and its 200 day simple moving average is $32.76.

Chemours (NYSE:CC – Get Free Report) last released its quarterly earnings data on Friday, July 28th. The specialty chemicals company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.01. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.75 billion. Chemours had a positive return on equity of 46.14% and a negative net margin of 1.40%. During the same quarter in the prior year, the company earned $1.89 earnings per share. As a group, sell-side analysts expect that The Chemours Company will post 3.38 earnings per share for the current fiscal year.

Chemours Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, August 14th. This represents a $1.00 annualized dividend and a yield of 3.08%. Chemours’s dividend payout ratio is -147.06%.

Chemours Profile

(Free Report)

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.