Oregon Public Employees Retirement Fund Cuts Holdings in Chemours Co (CC)

Oregon Public Employees Retirement Fund lessened its stake in Chemours Co (NYSE:CC) by 3.3% in the first quarter, HoldingsChannel reports. The institutional investor owned 91,657 shares of the specialty chemicals company’s stock after selling 3,143 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Chemours were worth $3,406,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc grew its stake in Chemours by 0.3% in the 3rd quarter. Vanguard Group Inc now owns 18,119,103 shares of the specialty chemicals company’s stock worth $714,617,000 after buying an additional 56,773 shares in the last quarter. Iridian Asset Management LLC CT grew its stake in Chemours by 2.9% in the 4th quarter. Iridian Asset Management LLC CT now owns 9,696,092 shares of the specialty chemicals company’s stock worth $273,624,000 after buying an additional 275,677 shares in the last quarter. LSV Asset Management grew its stake in Chemours by 19.9% in the 1st quarter. LSV Asset Management now owns 3,695,006 shares of the specialty chemicals company’s stock worth $137,306,000 after buying an additional 613,100 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Chemours by 37.7% in the 4th quarter. Bank of New York Mellon Corp now owns 3,146,146 shares of the specialty chemicals company’s stock worth $88,784,000 after buying an additional 860,666 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Chemours by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 1,734,170 shares of the specialty chemicals company’s stock worth $48,906,000 after buying an additional 58,490 shares in the last quarter. 82.18% of the stock is owned by institutional investors and hedge funds.

NYSE:CC opened at $23.75 on Wednesday. Chemours Co has a 52 week low of $22.36 and a 52 week high of $52.86. The company has a debt-to-equity ratio of 5.18, a current ratio of 1.81 and a quick ratio of 1.04. The firm has a market cap of $3.79 billion, a P/E ratio of 4.19, a PEG ratio of 0.35 and a beta of 2.20.

Chemours (NYSE:CC) last posted its quarterly earnings results on Thursday, May 2nd. The specialty chemicals company reported $0.63 EPS for the quarter, missing the Zacks’ consensus estimate of $0.93 by ($0.30). Chemours had a net margin of 12.60% and a return on equity of 87.75%. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the prior year, the company earned $1.41 earnings per share. The company’s quarterly revenue was down 20.5% compared to the same quarter last year. Equities research analysts expect that Chemours Co will post 4.22 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Thursday, May 16th will be issued a dividend of $0.25 per share. The ex-dividend date is Wednesday, May 15th. This represents a $1.00 dividend on an annualized basis and a yield of 4.21%. Chemours’s dividend payout ratio is currently 17.64%.

CC has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Chemours from a “sell” rating to a “hold” rating in a report on Monday, March 18th. ValuEngine lowered shares of Chemours from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 1st. Susquehanna Bancshares restated a “neutral” rating and issued a $37.00 price objective on shares of Chemours in a report on Tuesday, February 19th. SunTrust Banks boosted their price objective on shares of Chemours to $40.00 and gave the stock a “hold” rating in a report on Tuesday, February 19th. Finally, Citigroup restated a “buy” rating and issued a $43.00 price objective on shares of Chemours in a report on Wednesday, February 20th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. Chemours presently has a consensus rating of “Hold” and an average target price of $46.00.

In related news, SVP Susan M. Kelliher acquired 6,500 shares of Chemours stock in a transaction on Friday, May 17th. The shares were acquired at an average cost of $23.06 per share, with a total value of $149,890.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Amy Trojanowski sold 10,129 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $39.10, for a total transaction of $396,043.90. Following the transaction, the vice president now directly owns 54,795 shares in the company, valued at $2,142,484.50. The disclosure for this sale can be found here. Insiders have sold a total of 101,924 shares of company stock valued at $3,924,730 over the last quarter. 2.34% of the stock is currently owned by company insiders.

COPYRIGHT VIOLATION NOTICE: “Oregon Public Employees Retirement Fund Cuts Holdings in Chemours Co (CC)” was published by Baseball Daily News and is owned by of Baseball Daily News. If you are viewing this piece on another publication, it was illegally copied and republished in violation of U.S. and international copyright laws. The original version of this piece can be viewed at https://www.baseballdailydigest.com/news/2019/05/22/oregon-public-employees-retirement-fund-cuts-holdings-in-chemours-co-cc.html.

Chemours 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, Fluoroproducts, and Chemical Solutions. The Titanium Technologies segment manufactures and sells titanium dioxide under the Ti-Pure and BaiMax brands for various applications in architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride window profiles, laminate papers used for furniture and building materials, and coated papers and paperboards used for packaging.

Read More: Why do company’s buyback their stock?

Want to see what other hedge funds are holding CC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chemours Co (NYSE:CC).

Institutional Ownership by Quarter for Chemours (NYSE:CC)

Receive News & Ratings for Chemours Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chemours and related companies with MarketBeat.com's FREE daily email newsletter.