The Chemours Company (NYSE:CC – Get Free Report)’s stock price rose 4.7% during mid-day trading on Thursday . The stock traded as high as $25.43 and last traded at $25.38. Approximately 2,095,116 shares traded hands during mid-day trading, an increase of 26% from the average daily volume of 1,666,036 shares. The stock had previously closed at $24.24.
Analysts Set New Price Targets
Several equities research analysts have commented on CC shares. BMO Capital Markets raised shares of Chemours from an “underperform” rating to an “outperform” rating and upped their target price for the company from $19.00 to $34.00 in a research note on Tuesday, April 9th. UBS Group raised their price objective on Chemours from $21.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Mizuho assumed coverage on Chemours in a research note on Friday, June 7th. They issued a “neutral” rating and a $25.00 target price for the company. Finally, Barclays cut their price objective on Chemours from $32.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 2nd. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $30.89.
Chemours Stock Up 5.4 %
The firm has a market cap of $3.81 billion, a P/E ratio of -11.78 and a beta of 1.82. The firm’s fifty day moving average is $26.65 and its 200 day moving average is $28.09. The company has a debt-to-equity ratio of 5.26, a quick ratio of 0.99 and a current ratio of 1.61.
Chemours (NYSE:CC – Get Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The specialty chemicals company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.07. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.35 billion. Chemours had a positive return on equity of 46.67% and a negative net margin of 5.51%. The company’s revenue for the quarter was down 12.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.98 EPS. As a group, equities research analysts anticipate that The Chemours Company will post 1.88 earnings per share for the current fiscal year.
Chemours Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date of this dividend is Tuesday, May 14th. Chemours’s payout ratio is currently -46.08%.
Institutional Trading of Chemours
Several large investors have recently made changes to their positions in CC. Deutsche Bank AG increased its position in Chemours by 4,407.9% during the 3rd quarter. Deutsche Bank AG now owns 1,759,419 shares of the specialty chemicals company’s stock worth $49,352,000 after purchasing an additional 1,720,389 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Chemours by 50.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,763,368 shares of the specialty chemicals company’s stock valued at $150,237,000 after acquiring an additional 1,602,628 shares during the last quarter. Khrom Capital Management LLC boosted its holdings in shares of Chemours by 156.7% during the 1st quarter. Khrom Capital Management LLC now owns 2,235,659 shares of the specialty chemicals company’s stock valued at $58,708,000 after acquiring an additional 1,364,634 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its position in Chemours by 91.5% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 2,645,676 shares of the specialty chemicals company’s stock worth $69,476,000 after acquiring an additional 1,263,875 shares during the last quarter. Finally, Norges Bank acquired a new position in Chemours in the 4th quarter worth about $39,171,000. Institutional investors and hedge funds own 76.26% 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.