Alaska Permanent Fund Corp Increases Position in The Chemours Company (NYSE:CC)

Alaska Permanent Fund Corp increased its stake in The Chemours Company (NYSE:CC) by 2.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,498 shares of the specialty chemicals company’s stock after purchasing an additional 1,798 shares during the quarter. Alaska Permanent Fund Corp owned 0.05% of Chemours worth $2,350,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CC. Legacy Financial Group LLC acquired a new position in shares of Chemours during the 3rd quarter valued at about $29,000. Morton Brown Family Wealth LLC purchased a new position in Chemours during the fourth quarter worth approximately $35,000. Anchor Investment Management LLC acquired a new position in shares of Chemours in the 4th quarter valued at $56,000. Geneos Wealth Management Inc. grew its stake in shares of Chemours by 116.4% during the 4th quarter. Geneos Wealth Management Inc. now owns 1,859 shares of the specialty chemicals company’s stock valued at $59,000 after buying an additional 1,000 shares during the period. Finally, IFP Advisors Inc grew its position in Chemours by 39.0% during the third quarter. IFP Advisors Inc now owns 2,232 shares of the specialty chemicals company’s stock valued at $63,000 after acquiring an additional 626 shares during the period. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Analyst Upgrades and Downgrades

CC has been the topic of several analyst reports. UBS Group lifted their price target on shares of Chemours from $21.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. BMO Capital Markets upgraded 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 research note on Tuesday, April 9th. Finally, Barclays reduced their price target on shares of Chemours from $32.00 to $30.00 and set an “equal weight” rating for the company in a report on Tuesday, April 2nd. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $30.89.

Chemours Price Performance

Chemours stock traded down $0.10 during midday trading on Thursday, hitting $26.98. The company’s stock had a trading volume of 105,492 shares, compared to its average volume of 1,840,430. The stock’s 50-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. The company has a market capitalization of $4.02 billion, a PE ratio of -17.47 and a beta of 2.00. The Chemours Company has a 12 month low of $15.10 and a 12 month high of $39.05.

Chemours (NYSE:CC) last posted its quarterly earnings data 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 firm had revenue of $1.36 billion for 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 earnings per share for the current fiscal year.

Chemours Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, February 26th were issued 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 yield of 3.71%. Chemours’s payout ratio is presently -64.52%.

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.