Chemours (NYSE:CC) Price Target Cut to $30.00 by Analysts at Barclays

Chemours (NYSE:CCFree Report) had its price objective cut by Barclays from $32.00 to $30.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have an equal weight rating on the specialty chemicals company’s stock.

Several other analysts also recently issued reports on the stock. UBS Group reissued a neutral rating and issued a $21.00 price target (down previously from $37.00) on shares of Chemours in a research report on Tuesday, March 5th. BMO Capital Markets cut shares of Chemours from an outperform rating to an underperform rating and reduced their price objective for the company from $45.00 to $19.00 in a report on Thursday, February 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $29.22.

Read Our Latest Stock Report on CC

Chemours Trading Down 3.9 %

Shares of Chemours stock opened at $27.62 on Tuesday. The stock has a market capitalization of $4.11 billion, a PE ratio of -17.82 and a beta of 2.00. Chemours has a 52 week low of $15.10 and a 52 week high of $39.05. The stock has a 50 day moving average price of $27.85 and a two-hundred day moving average price of $27.99. The company has a debt-to-equity ratio of 5.40, a quick ratio of 1.00 and a current ratio of 1.54.

Chemours Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, February 26th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.00 annualized dividend and a dividend yield of 3.62%. Chemours’s dividend payout ratio is currently -64.52%.

Hedge Funds Weigh In On Chemours

Several hedge funds have recently modified their holdings of CC. Deutsche Bank AG raised its stake in shares of 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 during the period. Anchor Investment Management LLC bought a new stake in Chemours in the fourth quarter worth about $56,000. American Century Companies Inc. raised its position in Chemours by 0.7% in the third quarter. American Century Companies Inc. now owns 1,459,463 shares of the specialty chemicals company’s stock worth $40,938,000 after acquiring an additional 10,075 shares during the period. Assenagon Asset Management S.A. purchased a new position in Chemours in the fourth quarter valued at about $4,711,000. Finally, Sherbrooke Park Advisers LLC bought a new position in shares of Chemours during the 3rd quarter valued at approximately $1,044,000. Institutional investors own 76.26% of the company’s stock.

About Chemours

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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.

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