Chemours (NYSE:CC) Trading 6.8% Higher Following Analyst Upgrade

The Chemours Company (NYSE:CC) shares traded up 6.8% on Monday after JPMorgan Chase & Co. raised their price target on the stock from $13.00 to $17.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Chemours traded as high as $18.11 and last traded at $18.2050. 2,102,951 shares were traded during trading, a decline of 41% from the average session volume of 3,545,893 shares. The stock had previously closed at $17.04.

Other equities research analysts also recently issued reports about the stock. UBS Group reiterated a “buy” rating and set a $23.00 price target on shares of Chemours in a report on Monday. Mizuho set a $17.00 target price on Chemours in a research report on Monday. BMO Capital Markets set a $19.00 price objective on Chemours and gave the stock an “outperform” rating in a research report on Monday. Weiss Ratings restated a “sell (d)” rating on shares of Chemours in a report on Wednesday, January 21st. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $18.00 price objective on shares of Chemours in a research report on Friday, January 16th. Five equities research 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.com, the company currently has an average rating of “Hold” and an average price target of $17.67.

Institutional Investors Weigh In On Chemours

Several large investors have recently made changes to their positions in the stock. Entropy Technologies LP increased its stake in shares of Chemours by 478.3% in the 2nd quarter. Entropy Technologies LP now owns 62,075 shares of the specialty chemicals company’s stock valued at $711,000 after purchasing an additional 51,341 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Chemours in the third quarter valued at about $2,124,000. Vision One Management Partners LP boosted its stake in Chemours by 10.4% in the second quarter. Vision One Management Partners LP now owns 1,720,189 shares of the specialty chemicals company’s stock valued at $19,696,000 after buying an additional 161,691 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Chemours by 41.4% during the 2nd quarter. Geode Capital Management LLC now owns 3,484,416 shares of the specialty chemicals company’s stock valued at $39,901,000 after purchasing an additional 1,020,933 shares during the last quarter. Finally, Bryce Point Capital LLC acquired a new position in shares of Chemours during the second quarter worth $955,000. Institutional investors and hedge funds own 76.26% of the company’s stock.

Chemours Stock Up 7.0%

The company has a debt-to-equity ratio of 16.33, a current ratio of 1.78 and a quick ratio of 0.85. The stock has a market capitalization of $2.73 billion, a P/E ratio of -7.34 and a beta of 1.63. The firm has a 50-day simple moving average of $15.24 and a 200 day simple moving average of $14.47.

Chemours (NYSE:CC) last announced its earnings results on Thursday, February 19th. The specialty chemicals company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.01 by $0.04. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.33 billion. Chemours had a positive return on equity of 41.75% and a negative net margin of 6.41%.The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.09 EPS. On average, equities research analysts forecast that The Chemours Company will post 2.03 EPS for the current year.

Chemours Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be paid a dividend of $0.0875 per share. The ex-dividend date is Friday, February 27th. This represents a $0.35 annualized dividend and a yield of 1.9%. Chemours’s dividend payout ratio (DPR) is -14.11%.

About Chemours

Chemours Company, established in 2015 as a spin-off from E. I. du Pont de Nemours and Company, is a global chemistry organization headquartered in Wilmington, Delaware. Since its formation, Chemours has focused on delivering performance chemicals that help customers lower their carbon footprint, increase energy efficiency and conserve water. The company operates with a commitment to safety, environmental stewardship and innovation.

Chemours’ principal business activities are organized into three core segments.