The Chemours Company (NYSE:CC) Receives $17.56 Consensus PT from Analysts

The Chemours Company (NYSE:CC) has been assigned an average rating of “Moderate Buy” from the nine ratings firms that are currently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $17.22.

A number of analysts have recently weighed in on CC shares. Barclays reduced their price target on shares of Chemours from $16.00 to $13.00 and set an “equal weight” rating for the company in a research note on Wednesday. Mizuho set a $15.00 price target on shares of Chemours in a research note on Tuesday, April 15th. Truist Financial cut their target price on Chemours from $27.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Morgan Stanley cut their target price on Chemours from $22.00 to $15.00 and set an “equal weight” rating for the company in a research report on Monday, May 12th. Finally, Royal Bank of Canada cut their target price on Chemours from $17.00 to $14.00 and set an “outperform” rating for the company in a research report on Thursday, May 8th.

Chemours Trading Up 0.4%

Shares of CC stock opened at $10.15 on Wednesday. The company has a debt-to-equity ratio of 6.70, a quick ratio of 0.92 and a current ratio of 1.68. Chemours has a 1 year low of $9.33 and a 1 year high of $25.80. The stock has a fifty day moving average of $11.55 and a two-hundred day moving average of $15.68. The firm has a market capitalization of $1.52 billion, a PE ratio of 17.81 and a beta of 1.76.

Chemours (NYSE:CC) last posted its quarterly earnings data on Tuesday, May 6th. The specialty chemicals company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.06). The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. Chemours had a return on equity of 26.54% and a net margin of 1.51%. The business’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.32 EPS. As a group, research analysts expect that Chemours will post 2.03 EPS for the current year.

Chemours Announces Dividend

The firm also recently announced a dividend, which will be paid on Monday, June 16th. Investors of record on Monday, May 19th will be paid a dividend of $0.0875 per share. This represents a yield of 3.17%. The ex-dividend date of this dividend is Friday, May 16th. Chemours’s dividend payout ratio is presently 175.00%.

Insider Activity at Chemours

In related news, CFO Shane Hostetter bought 4,450 shares of Chemours stock in a transaction dated Monday, May 19th. The stock was acquired at an average cost of $11.28 per share, with a total value of $50,196.00. Following the completion of the acquisition, the chief financial officer now directly owns 59,694 shares in the company, valued at approximately $673,348.32. This trade represents a 8.06% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Chemours

Several hedge funds have recently modified their holdings of CC. Vanguard Group Inc. lifted its stake in Chemours by 8.3% during the first quarter. Vanguard Group Inc. now owns 16,487,008 shares of the specialty chemicals company’s stock valued at $223,069,000 after buying an additional 1,263,047 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Chemours by 23.8% in the 4th quarter. Ameriprise Financial Inc. now owns 4,373,172 shares of the specialty chemicals company’s stock valued at $73,907,000 after acquiring an additional 839,849 shares in the last quarter. Millennium Management LLC lifted its position in shares of Chemours by 60.4% in the 1st quarter. Millennium Management LLC now owns 4,022,782 shares of the specialty chemicals company’s stock valued at $54,428,000 after acquiring an additional 1,515,520 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Chemours by 17.5% in the 1st quarter. American Century Companies Inc. now owns 1,909,149 shares of the specialty chemicals company’s stock valued at $25,831,000 after acquiring an additional 284,130 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Chemours in the 4th quarter valued at approximately $30,702,000. 76.26% of the stock is owned by hedge funds and other institutional investors.

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.