Chemours (NYSE:CC) Shares Gap Up to $22.03

Chemours (NYSE:CC) Shares Gap Up to $22.03

Shares of The Chemours Company (NYSE:CC – Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $22.03, but opened at $25.50. Chemours shares last traded at $25.26, with a volume of 1,664,498 shares traded.

Analyst Upgrades and Downgrades

CC has been the subject of a number of recent research reports. BMO Capital Markets cut shares of Chemours from an “outperform” rating to an “underperform” rating and dropped their price objective for the stock from $45.00 to $19.00 in a research note on Thursday, February 29th. Royal Bank of Canada raised Chemours from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $28.00 to $40.00 in a research report on Friday, December 1st. Finally, UBS Group restated a “neutral” rating and issued a $21.00 price target (down from $37.00) on shares of Chemours in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $28.22.

Chemours Trading Up 15.7 %

The company has a current ratio of 1.68, a quick ratio of 1.08 and a debt-to-equity ratio of 5.21. The stock has a market capitalization of $3.78 billion, a P/E ratio of -12.27 and a beta of 1.97. The company has a 50-day moving average price of $29.18 and a 200 day moving average price of $28.78.

Chemours Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Monday, February 26th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.92%. The ex-dividend date of this dividend is Friday, February 23rd. Chemours’s dividend payout ratio is currently -48.31%.

Hedge Funds Weigh In On Chemours

Hedge funds have recently modified their holdings of the stock. Hexagon Capital Partners LLC purchased a new stake in Chemours during the 4th quarter valued at about $25,000. Legacy Financial Group LLC acquired a new position in Chemours in the 3rd quarter worth approximately $29,000. Garner Asset Management Corp acquired a new stake in Chemours during the 4th quarter valued at approximately $29,000. Morton Brown Family Wealth LLC acquired a new stake in shares of Chemours in the fourth quarter worth $35,000. Finally, Neo Ivy Capital Management purchased a new position in shares of Chemours during the fourth quarter worth $40,000. Institutional investors and hedge funds own 76.46% of the company’s stock.

About Chemours 

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.

error: Content is protected !!