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

South Dakota Investment Council lifted its position in shares of The Chemours Company (NYSE:CC) by 37.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CC. Legacy Financial Group LLC bought a new stake in shares of Chemours during the third quarter worth $29,000. Morton Brown Family Wealth LLC bought a new stake in shares of Chemours during the fourth quarter worth $35,000. Anchor Investment Management LLC bought a new stake in shares of Chemours during the fourth quarter worth $56,000. Geneos Wealth Management Inc. raised its position in shares of Chemours by 116.4% during the fourth quarter. Geneos Wealth Management Inc. now owns 1,859 shares of the specialty chemicals company’s stock worth $59,000 after acquiring an additional 1,000 shares during the last quarter. Finally, IFP Advisors Inc raised its position in shares of Chemours by 39.0% during the third quarter. IFP Advisors Inc now owns 2,232 shares of the specialty chemicals company’s stock worth $63,000 after acquiring an additional 626 shares during the last quarter. Institutional investors own 76.26% of the company’s stock.

Chemours Stock Up 1.3 %

Shares of Chemours stock opened at $27.08 on Thursday. The Chemours Company has a 1 year low of $15.10 and a 1 year high of $39.05. The business has a 50-day moving average of $26.72 and a two-hundred day moving average of $27.80. The company has a debt-to-equity ratio of 5.40, a quick ratio of 1.00 and a current ratio of 1.54.

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

Chemours Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Barclays dropped their target price on Chemours from $32.00 to $30.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 2nd. BMO Capital Markets upgraded Chemours from an “underperform” rating to an “outperform” rating and upped their price objective for the company from $19.00 to $34.00 in a report on Tuesday, April 9th. Finally, UBS Group upped their price objective on Chemours from $21.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $30.89.

Chemours Company 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.