The Chemours Company (NYSE:CC) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of The Chemours Company (NYSE:CC) have earned an average recommendation of “Hold” from the eight ratings firms that are presently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $24.88.

CC has been the subject of several recent analyst reports. Barclays boosted their price target on Chemours from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Royal Bank of Canada lowered their target price on shares of Chemours from $28.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Morgan Stanley reduced their price target on shares of Chemours from $30.00 to $25.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 5th. BMO Capital Markets increased their price objective on shares of Chemours from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Monday, October 7th. Finally, The Goldman Sachs Group cut their target price on shares of Chemours from $29.00 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, September 3rd.

Chemours Price Performance

Shares of NYSE CC opened at $21.00 on Wednesday. The company has a 50 day simple moving average of $19.88 and a two-hundred day simple moving average of $20.99. Chemours has a fifty-two week low of $15.10 and a fifty-two week high of $32.70. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of 42.00 and a beta of 1.80. The company has a debt-to-equity ratio of 6.05, a quick ratio of 0.92 and a current ratio of 1.73.

Chemours (NYSE:CC) last announced its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.32 by $0.08. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.44 billion. Chemours had a net margin of 1.34% and a return on equity of 29.48%. Chemours’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.64 EPS. Analysts expect that Chemours will post 1.35 EPS for the current fiscal year.

Chemours Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, November 15th. This represents a $1.00 annualized dividend and a yield of 4.76%. Chemours’s dividend payout ratio (DPR) is 200.00%.

Insider Buying and Selling at Chemours

In related news, SVP Alvenia Scarborough sold 7,500 shares of Chemours stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $20.64, for a total transaction of $154,800.00. Following the transaction, the senior vice president now directly owns 16,645 shares in the company, valued at approximately $343,552.80. The trade was a 31.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.47% of the stock is owned by corporate insiders.

Institutional Trading of Chemours

Hedge funds and other institutional investors have recently bought and sold shares of the stock. M&T Bank Corp lifted its holdings in Chemours by 4.1% during the third quarter. M&T Bank Corp now owns 510,343 shares of the specialty chemicals company’s stock valued at $10,370,000 after purchasing an additional 20,122 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Chemours by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,491,748 shares of the specialty chemicals company’s stock valued at $50,646,000 after purchasing an additional 28,803 shares during the period. Barclays PLC lifted its stake in shares of Chemours by 28.4% during the 3rd quarter. Barclays PLC now owns 107,549 shares of the specialty chemicals company’s stock valued at $2,185,000 after buying an additional 23,766 shares in the last quarter. Vision One Management Partners LP bought a new position in Chemours in the 3rd quarter worth $28,252,000. Finally, Two Sigma Advisers LP increased its stake in Chemours by 9.4% in the 3rd quarter. Two Sigma Advisers LP now owns 503,100 shares of the specialty chemicals company’s stock worth $10,223,000 after buying an additional 43,200 shares in the last quarter. Hedge funds and other institutional investors 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.