Chemours (NYSE:CC) Shares Gap Down to $30.73

The Chemours Company (NYSE:CCGet Rating) shares gapped down prior to trading on Wednesday . The stock had previously closed at $30.73, but opened at $29.15. Chemours shares last traded at $29.45, with a volume of 28,272 shares trading hands.

Analyst Ratings Changes

Several brokerages recently commented on CC. Bank of America cut their price target on shares of Chemours from $44.00 to $36.00 in a report on Thursday. Citigroup boosted their price target on shares of Chemours to $36.00 in a report on Tuesday, August 9th. UBS Group boosted their price target on shares of Chemours from $35.00 to $37.00 and gave the stock a “neutral” rating in a report on Friday, July 29th. StockNews.com lowered shares of Chemours from a “strong-buy” rating to a “buy” rating in a report on Friday. Finally, Royal Bank of Canada cut their price target on shares of Chemours from $48.00 to $35.00 in a report on Thursday. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $36.67.

Chemours Price Performance

The firm has a market cap of $4.13 billion, a PE ratio of 4.97, a price-to-earnings-growth ratio of 0.38 and a beta of 1.80. The stock’s fifty day moving average price is $34.36 and its 200-day moving average price is $34.56. The company has a debt-to-equity ratio of 3.01, a current ratio of 1.91 and a quick ratio of 1.27.

Chemours (NYSE:CCGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The specialty chemicals company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.47. The firm had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Chemours had a net margin of 12.72% and a return on equity of 79.77%. The company’s revenue was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.20 EPS. As a group, equities analysts expect that The Chemours Company will post 5.6 EPS for the current fiscal year.

Chemours Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Monday, August 15th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 12th. This represents a $1.00 annualized dividend and a dividend yield of 3.75%. Chemours’s payout ratio is 18.66%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CC. Spire Wealth Management lifted its position in Chemours by 29.6% in the first quarter. Spire Wealth Management now owns 3,674 shares of the specialty chemicals company’s stock valued at $116,000 after buying an additional 840 shares during the last quarter. 180 Wealth Advisors LLC lifted its position in Chemours by 15.6% in the first quarter. 180 Wealth Advisors LLC now owns 11,881 shares of the specialty chemicals company’s stock valued at $420,000 after buying an additional 1,603 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in Chemours by 8.3% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,804,090 shares of the specialty chemicals company’s stock valued at $56,793,000 after buying an additional 138,945 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Chemours by 56.5% during the fourth quarter. JPMorgan Chase & Co. now owns 445,700 shares of the specialty chemicals company’s stock worth $14,957,000 after purchasing an additional 160,996 shares in the last quarter. Finally, Prospera Financial Services Inc acquired a new stake in shares of Chemours during the first quarter worth about $29,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Chemours Company Profile

(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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