South Dakota Investment Council Increases Stake in The Chemours Company $CC

South Dakota Investment Council increased its position in shares of The Chemours Company (NYSE:CC) by 96.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 105,459 shares of the specialty chemicals company’s stock after buying an additional 51,800 shares during the period. South Dakota Investment Council owned about 0.07% of Chemours worth $1,670,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. MTM Investment Management LLC purchased a new stake in shares of Chemours in the 2nd quarter valued at approximately $27,000. Evelyn Partners Asset Management Ltd acquired a new stake in Chemours in the second quarter valued at $37,000. Hantz Financial Services Inc. raised its stake in Chemours by 334.2% in the third quarter. Hantz Financial Services Inc. now owns 4,329 shares of the specialty chemicals company’s stock valued at $69,000 after buying an additional 3,332 shares in the last quarter. CWM LLC lifted its holdings in Chemours by 32.4% during the 3rd quarter. CWM LLC now owns 5,682 shares of the specialty chemicals company’s stock worth $90,000 after buying an additional 1,392 shares during the last quarter. Finally, Itau Unibanco Holding S.A. boosted its position in shares of Chemours by 102.3% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 7,149 shares of the specialty chemicals company’s stock worth $82,000 after acquiring an additional 3,615 shares in the last quarter. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on CC. JPMorgan Chase & Co. raised their target price on Chemours from $13.00 to $17.00 and gave the stock a “neutral” rating in a research report on Monday, February 23rd. Mizuho boosted their price objective on shares of Chemours from $17.00 to $21.00 and gave the stock an “outperform” rating in a research report on Thursday. Truist Financial upped their target price on shares of Chemours from $18.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Chemours in a research report on Wednesday, January 21st. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $17.00 price target on shares of Chemours in a research report on Monday, February 23rd. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $18.40.

Chemours Stock Performance

Shares of CC stock opened at $16.70 on Friday. The stock’s 50-day moving average price is $16.29 and its 200 day moving average price is $14.73. The company has a quick ratio of 0.85, a current ratio of 1.78 and a debt-to-equity ratio of 16.33. The stock has a market capitalization of $2.51 billion, a PE ratio of -6.73 and a beta of 1.60. The Chemours Company has a 52-week low of $9.13 and a 52-week high of $21.85.

Chemours (NYSE:CC) last released its earnings results on Thursday, February 19th. The specialty chemicals company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. Chemours had a positive return on equity of 41.75% and a negative net margin of 6.41%.The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the previous year, the company posted $0.09 earnings per share. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, equities research analysts forecast that The Chemours Company will post 2.03 EPS for the current year.

Chemours Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be given a dividend of $0.0875 per share. The ex-dividend date is Friday, February 27th. This represents a $0.35 annualized dividend and a yield of 2.1%. Chemours’s payout ratio is presently -14.11%.

Chemours Company Profile

Chemours Company, established in 2015 as a spin-off from E. I. du Pont de Nemours and Company, is a global chemistry organization headquartered in Wilmington, Delaware. Since its formation, Chemours has focused on delivering performance chemicals that help customers lower their carbon footprint, increase energy efficiency and conserve water. The company operates with a commitment to safety, environmental stewardship and innovation.

Chemours’ principal business activities are organized into three core segments.