Chemours (NYSE:CC) Rating Lowered to Buy at StockNews.com

Chemours (NYSE:CCGet Rating) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Tuesday.

A number of other research analysts have also recently issued reports on the company. Bank of America cut Chemours from a “buy” rating to a “neutral” rating and cut their price target for the company from $48.00 to $44.00 in a report on Tuesday, June 14th. Barclays boosted their target price on Chemours from $37.00 to $46.00 in a research note on Monday, May 9th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $40.83.

Shares of NYSE:CC traded down $0.15 during trading hours on Tuesday, hitting $31.44. 2,158,241 shares of the company’s stock traded hands, compared to its average volume of 1,845,302. Chemours has a 52 week low of $22.56 and a 52 week high of $44.95. The company has a debt-to-equity ratio of 3.16, a quick ratio of 1.25 and a current ratio of 1.91. The company’s fifty day simple moving average is $38.26 and its two-hundred day simple moving average is $33.93. The company has a market cap of $4.89 billion, a price-to-earnings ratio of 7.00, a price-to-earnings-growth ratio of 0.45 and a beta of 1.79.

Chemours (NYSE:CCGet Rating) last posted its quarterly earnings results on Monday, May 2nd. The specialty chemicals company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.54. The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.54 billion. Chemours had a net margin of 11.19% and a return on equity of 76.47%. During the same period in the prior year, the firm earned $0.71 earnings per share. On average, analysts anticipate that Chemours will post 5.22 EPS for the current fiscal year.

In other news, CFO Sameer Ralhan sold 35,188 shares of the business’s stock in a transaction dated Friday, May 6th. The stock was sold at an average price of $40.14, for a total value of $1,412,446.32. Following the completion of the sale, the chief financial officer now owns 313,506 shares of the company’s stock, valued at approximately $12,584,130.84. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Mark Newman sold 197,161 shares of the business’s stock in a transaction dated Thursday, May 5th. The shares were sold at an average price of $40.22, for a total value of $7,929,815.42. Following the completion of the sale, the chief executive officer now directly owns 176,347 shares of the company’s stock, valued at approximately $7,092,676.34. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 296,280 shares of company stock worth $11,989,133. 3.04% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CC. BlackRock Inc. raised its position in shares of Chemours by 29.0% in the 1st quarter. BlackRock Inc. now owns 18,075,740 shares of the specialty chemicals company’s stock worth $569,023,000 after acquiring an additional 4,060,250 shares in the last quarter. State Street Corp grew its stake in shares of Chemours by 5.8% in the 1st quarter. State Street Corp now owns 4,618,424 shares of the specialty chemicals company’s stock worth $145,388,000 after buying an additional 254,243 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Chemours by 26.8% in the 4th quarter. Geode Capital Management LLC now owns 2,781,603 shares of the specialty chemicals company’s stock worth $93,350,000 after buying an additional 588,765 shares during the last quarter. Norges Bank purchased a new stake in shares of Chemours in the 4th quarter worth approximately $84,199,000. Finally, Millennium Management LLC boosted its stake in Chemours by 315.7% during the 4th quarter. Millennium Management LLC now owns 2,287,108 shares of the specialty chemicals company’s stock valued at $76,755,000 after purchasing an additional 1,736,888 shares during the last quarter. 76.38% of the stock is owned by institutional investors and hedge funds.

About Chemours (Get Rating)

The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. It operates through four segments: Titanium Technologies, Thermal & Specialized Solutions, Advanced Performance Materials, and Chemical Solutions. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure and BaiMax brands for delivering whiteness, brightness, opacity, 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.

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