Chemours (NYSE:CC) Trading Up 8.9% – Here’s What Happened

The Chemours Company (NYSE:CC)’s share price was up 8.9% during trading on Tuesday . The company traded as high as $18.63 and last traded at $18.44. Approximately 313,561 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 1,070,995 shares. The stock had previously closed at $16.93.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CC. Morgan Stanley lowered their price objective on Chemours from $30.00 to $25.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 5th. Royal Bank of Canada reiterated an “outperform” rating and set a $25.00 price target on shares of Chemours in a report on Thursday, December 12th. BMO Capital Markets raised their price target on shares of Chemours from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, October 7th. The Goldman Sachs Group lowered their price objective on shares of Chemours from $24.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, Barclays raised their target price on Chemours from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Chemours currently has a consensus rating of “Hold” and an average price target of $24.13.

Chemours Price Performance

The stock has a market cap of $2.67 billion, a P/E ratio of 35.74 and a beta of 1.83. The business’s 50 day moving average price is $19.28 and its two-hundred day moving average price is $19.96. The company has a current ratio of 1.73, a quick ratio of 0.92 and a debt-to-equity ratio of 6.05.

Chemours (NYSE:CC) last posted its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.08. Chemours had a return on equity of 29.48% and a net margin of 1.34%. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same period in the previous year, the firm posted $0.64 EPS. The business’s revenue was up .9% on a year-over-year basis. As a group, sell-side analysts expect that The Chemours Company will post 1.35 earnings per share for the current fiscal year.

Chemours Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 15th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a yield of 5.60%. Chemours’s dividend payout ratio (DPR) is 200.00%.

Insider Buying and Selling at Chemours

In related news, SVP Alvenia Scarborough sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $20.64, for a total transaction of $154,800.00. Following the completion of the transaction, the senior vice president now owns 16,645 shares of the company’s stock, valued at $343,552.80. This trade represents a 31.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On Chemours

Hedge funds have recently added to or reduced their stakes in the stock. Matrix Trust Co purchased a new stake in shares of Chemours during the third quarter valued at approximately $25,000. Blue Trust Inc. lifted its position in Chemours by 166.9% in the 3rd quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company’s stock valued at $26,000 after acquiring an additional 731 shares in the last quarter. GAMMA Investing LLC boosted its stake in Chemours by 99.7% during the 4th quarter. GAMMA Investing LLC now owns 1,532 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 765 shares during the last quarter. Truvestments Capital LLC bought a new stake in shares of Chemours in the 3rd quarter worth $35,000. Finally, Brooklyn Investment Group bought a new position in shares of Chemours during the third quarter valued at $37,000. 76.26% of the stock is owned by 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.