Chemours (NYSE:CC) PT Lowered to $30.00 at BMO Capital Markets

Chemours (NYSE:CC) had its price target decreased by BMO Capital Markets from $35.00 to $30.00 in a research note released on Tuesday, Benzinga reports. BMO Capital Markets currently has an outperform rating on the specialty chemicals company’s stock.

Several other equities research analysts also recently commented on CC. Mizuho began coverage on shares of Chemours in a report on Friday, June 7th. They set a neutral rating and a $25.00 price objective on the stock. UBS Group raised shares of Chemours from a neutral rating to a buy rating and boosted their price target for the company from $28.00 to $30.00 in a research report on Tuesday, July 9th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Hold and an average price target of $27.63.

Chemours Stock Performance

Shares of NYSE CC traded up $0.02 during midday trading on Tuesday, reaching $18.28. The company’s stock had a trading volume of 1,210,314 shares, compared to its average volume of 1,624,901. The stock has a market capitalization of $2.72 billion, a P/E ratio of -8.41 and a beta of 1.80. The company has a debt-to-equity ratio of 5.26, a current ratio of 1.61 and a quick ratio of 0.99. The firm has a 50 day moving average price of $23.19 and a 200-day moving average price of $26.10. Chemours has a 12-month low of $15.10 and a 12-month high of $36.05.

Chemours (NYSE:CC) last released its earnings results on Thursday, August 1st. The specialty chemicals company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.19). The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. Chemours had a return on equity of 32.93% and a net margin of 2.16%. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.10 earnings per share. As a group, equities analysts predict that Chemours will post 1.81 earnings per share for the current year.

Chemours Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Thursday, August 15th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.47%. Chemours’s dividend payout ratio is -46.08%.

Hedge Funds Weigh In On Chemours

Several institutional investors and hedge funds have recently made changes to their positions in the business. Hexagon Capital Partners LLC bought a new position in Chemours during the 4th quarter worth approximately $25,000. New Covenant Trust Company N.A. bought a new stake in Chemours in the 1st quarter worth $29,000. North Star Investment Management Corp. increased its position in shares of Chemours by 1,510.0% in the first quarter. North Star Investment Management Corp. now owns 1,288 shares of the specialty chemicals company’s stock valued at $34,000 after acquiring an additional 1,208 shares during the period. Morton Brown Family Wealth LLC bought a new position in shares of Chemours during the fourth quarter valued at about $35,000. Finally, Sunbelt Securities Inc. boosted its holdings in shares of Chemours by 1,969.7% during the first quarter. Sunbelt Securities Inc. now owns 1,366 shares of the specialty chemicals company’s stock worth $36,000 after purchasing an additional 1,300 shares during the period. Institutional investors own 76.26% of the company’s stock.

Chemours Company Profile

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.