Chemours (NYSE:CC) Trading 6.1% Higher – Time to Buy?

The Chemours Company (NYSE:CC)’s share price was up 6.1% during trading on Friday . The stock traded as high as $13.33 and last traded at $13.3050. Approximately 598,142 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 3,374,682 shares. The stock had previously closed at $12.54.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CC shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Chemours in a research note on Wednesday, October 8th. Royal Bank Of Canada reduced their price objective on Chemours from $19.00 to $17.00 and set an “outperform” rating for the company in a research note on Monday, November 10th. Mizuho lowered their target price on shares of Chemours from $19.00 to $18.00 and set an “outperform” rating on the stock in a research report on Thursday, October 16th. Truist Financial reduced their price target on shares of Chemours from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Monday, November 10th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Chemours from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Chemours has an average rating of “Hold” and a consensus price target of $17.00.

Chemours Trading Up 2.9%

The company has a current ratio of 1.71, a quick ratio of 0.88 and a debt-to-equity ratio of 13.66. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of -5.82 and a beta of 1.59. The firm has a 50-day moving average price of $13.26 and a 200-day moving average price of $13.25.

Chemours (NYSE:CC) last announced its quarterly earnings results on Thursday, November 6th. The specialty chemicals company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.04). The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.50 billion. Chemours had a negative net margin of 5.70% and a positive return on equity of 35.27%. The company’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.40 EPS. As a group, sell-side analysts predict that The Chemours Company will post 2.03 EPS for the current year.

Chemours Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 14th will be given a dividend of $0.0875 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $0.35 dividend on an annualized basis and a yield of 2.7%. Chemours’s dividend payout ratio (DPR) is -15.77%.

Institutional Trading of Chemours

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Chemours by 8.3% during the first quarter. Vanguard Group Inc. now owns 16,487,008 shares of the specialty chemicals company’s stock worth $223,069,000 after purchasing an additional 1,263,047 shares during the period. State Street Corp raised its stake in shares of Chemours by 22.7% during the 2nd quarter. State Street Corp now owns 6,114,328 shares of the specialty chemicals company’s stock worth $70,009,000 after purchasing an additional 1,131,682 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Chemours by 13.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,796,153 shares of the specialty chemicals company’s stock valued at $75,971,000 after purchasing an additional 580,089 shares during the period. UBS Group AG boosted its holdings in shares of Chemours by 0.3% during the 3rd quarter. UBS Group AG now owns 4,754,492 shares of the specialty chemicals company’s stock worth $75,311,000 after buying an additional 14,865 shares during the period. Finally, Millennium Management LLC lifted its position in Chemours by 60.4% during the first quarter. Millennium Management LLC now owns 4,022,782 shares of the specialty chemicals company’s stock worth $54,428,000 after acquiring an additional 1,515,520 shares during the last quarter. Institutional investors and hedge funds 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.