Zacks Investment Research Upgrades Chemours Company (The) (CC) to Buy

Zacks Investment Research upgraded shares of Chemours Company (The) (NYSE:CC) from a hold rating to a buy rating in a report published on Thursday morning. The brokerage currently has $57.00 price objective on the specialty chemicals company’s stock.

According to Zacks, “Chemours Company is involved in chemical business. It operating segment consists of Titanium Technologies, Fluoroproducts and Chemical Solutions. Titanium Technologies segment produces titanium dioxide and premium white pigment. Fluoroproducts segment provides fluoroproducts, refrigerants and industrial fluoropolymer resins. Chemical Solutions segment provides industrial and specialty chemicals. The company’s brand consists of Teflon(R), Ti-Pure(R), Krytox(R) Viton(R), Opteon(R) and Nafion(R). Chemours Company is headquartered in Wilmington. “

CC has been the topic of a number of other reports. BidaskClub cut shares of Chemours Company (The) from a buy rating to a hold rating in a research note on Friday, August 11th. UBS AG increased their price objective on shares of Chemours Company (The) from $50.00 to $59.00 and gave the company a neutral rating in a research note on Friday, November 3rd. Barclays PLC increased their price objective on shares of Chemours Company (The) from $55.00 to $58.00 and gave the company an overweight rating in a research note on Monday, November 6th. Citigroup Inc. increased their price objective on shares of Chemours Company (The) from $45.00 to $59.00 and gave the company a buy rating in a research note on Friday, August 4th. Finally, Jefferies Group LLC increased their price objective on shares of Chemours Company (The) to $60.00 and gave the company a buy rating in a research note on Thursday, August 3rd. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $53.89.

Chemours Company (NYSE CC) opened at $50.07 on Thursday. The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.63 and a current ratio of 2.19. Chemours Company has a 12 month low of $20.22 and a 12 month high of $58.08. The firm has a market cap of $9,271.12, a price-to-earnings ratio of 17.75, a PEG ratio of 0.89 and a beta of 3.59.

Chemours Company (The) (NYSE:CC) last posted its quarterly earnings results on Thursday, November 2nd. The specialty chemicals company reported $1.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.11. Chemours Company (The) had a net margin of 4.86% and a return on equity of 116.80%. The business had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same period in the prior year, the company posted $0.61 EPS. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. research analysts predict that Chemours Company will post 3.65 earnings per share for the current year.

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The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Monday, November 20th will be paid a dividend of $0.03 per share. The ex-dividend date is Friday, November 17th. This represents a $0.12 annualized dividend and a dividend yield of 0.24%. Chemours Company (The)’s dividend payout ratio is currently 8.28%.

In other news, SVP David C. Shelton sold 19,000 shares of the stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $53.68, for a total transaction of $1,019,920.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider E Bryan Snell sold 13,000 shares of the stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $49.35, for a total transaction of $641,550.00. The disclosure for this sale can be found here. Insiders have sold a total of 76,520 shares of company stock worth $4,008,293 over the last ninety days. 1.14% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in CC. AJO LP purchased a new position in shares of Chemours Company (The) during the 2nd quarter worth about $49,809,000. TIAA CREF Investment Management LLC raised its holdings in Chemours Company (The) by 126.5% in the second quarter. TIAA CREF Investment Management LLC now owns 1,789,112 shares of the specialty chemicals company’s stock valued at $67,843,000 after buying an additional 999,380 shares during the period. Sirios Capital Management L P purchased a new position in Chemours Company (The) in the second quarter valued at approximately $37,430,000. FMR LLC raised its holdings in Chemours Company (The) by 6.1% in the second quarter. FMR LLC now owns 15,830,411 shares of the specialty chemicals company’s stock valued at $600,289,000 after buying an additional 905,038 shares during the period. Finally, Old Mutual Global Investors UK Ltd. purchased a new position in Chemours Company (The) in the second quarter valued at approximately $33,541,000. Institutional investors and hedge funds own 72.90% of the company’s stock.

About Chemours Company (The)

The Chemours Company is a provider of performance chemicals. The Company operates through three segments: Titanium Technologies, Fluoroproducts and Chemical Solutions. The Titanium Technologies segment is a producer of titanium dioxide (TiO2). The Fluoroproducts segment is a provider of fluoroproducts, including refrigerants and industrial fluoropolymer resins.

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Analyst Recommendations for Chemours Company (The) (NYSE:CC)

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