Chemours’ (CC) “Outperform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Chemours (NYSE:CC) in a report released on Thursday morning,Benzinga reports. They currently have a $25.00 target price on the specialty chemicals company’s stock.

A number of other research firms also recently issued reports on CC. Morgan Stanley decreased their price objective on shares of Chemours from $30.00 to $25.00 and set an “equal weight” rating for the company in a report on Tuesday, November 5th. BMO Capital Markets lifted their price objective on Chemours from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, October 7th. Barclays lifted their target price on shares of Chemours from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Finally, The Goldman Sachs Group cut their price objective on shares of Chemours from $29.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, September 3rd. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $24.88.

Chemours Price Performance

CC stock opened at $19.40 on Thursday. The company has a debt-to-equity ratio of 6.05, a current ratio of 1.73 and a quick ratio of 0.92. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of 38.80 and a beta of 1.80. Chemours has a 1 year low of $15.10 and a 1 year high of $32.70. The company has a 50 day simple moving average of $19.93 and a 200 day simple moving average of $20.89.

Chemours (NYSE:CC) last posted its quarterly earnings results on Monday, November 4th. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.08. Chemours had a return on equity of 29.48% and a net margin of 1.34%. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same period in the prior year, the business earned $0.64 EPS. The company’s revenue for the quarter was up .9% compared to the same quarter last year. Research analysts anticipate that Chemours will post 1.35 EPS for the current fiscal year.

Chemours Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be issued 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 5.15%. Chemours’s payout ratio is currently 200.00%.

Insider Buying and Selling

In other news, SVP Alvenia Scarborough sold 7,500 shares of Chemours stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $20.64, for a total value of $154,800.00. Following the sale, the senior vice president now owns 16,645 shares in the company, valued at $343,552.80. This trade represents a 31.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.47% of the stock is currently owned by insiders.

Institutional Trading of Chemours

Several institutional investors and hedge funds have recently bought and sold shares of CC. Matrix Trust Co purchased a new position in Chemours in the third quarter valued at $25,000. Blue Trust Inc. raised its stake in shares of Chemours by 166.9% during the third quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 731 shares during the last quarter. Truvestments Capital LLC acquired a new stake in shares of Chemours in the 3rd quarter worth $35,000. Brooklyn Investment Group acquired a new position in Chemours during the third quarter worth $37,000. Finally, Signaturefd LLC increased its holdings in Chemours by 163.7% in the third quarter. Signaturefd LLC now owns 1,959 shares of the specialty chemicals company’s stock valued at $40,000 after buying an additional 1,216 shares in the last quarter. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

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.