Chemours (NYSE:CC) Trading Down 3.8%

Shares of The Chemours Company (NYSE:CC) dropped 3.8% during trading on Monday . The stock traded as low as $16.75 and last traded at $16.80. Approximately 515,962 shares traded hands during trading, a decline of 67% from the average daily volume of 1,565,071 shares. The stock had previously closed at $17.47.

Wall Street Analysts Forecast Growth

CC has been the subject of a number of research reports. Barclays reduced their target price on shares of Chemours from $30.00 to $22.00 and set an “equal weight” rating for the company in a report on Tuesday, August 6th. The Goldman Sachs Group decreased their target price on Chemours from $29.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, September 3rd. Mizuho started coverage on Chemours in a research report on Friday, June 7th. They set a “neutral” rating and a $25.00 target price on the stock. JPMorgan Chase & Co. decreased their price target on Chemours from $25.00 to $18.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. Finally, UBS Group reduced their price objective on shares of Chemours from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Six research 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, the company currently has an average rating of “Hold” and an average target price of $26.75.

Chemours Price Performance

The company has a current ratio of 1.89, a quick ratio of 1.01 and a debt-to-equity ratio of 5.45. The stock has a 50-day simple moving average of $21.05 and a 200 day simple moving average of $24.37. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of -7.85 and a beta of 1.75.

Chemours (NYSE:CC) last posted its quarterly earnings results on Thursday, August 1st. The specialty chemicals company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.19). The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. Chemours had a return on equity of 33.21% and a net margin of 2.16%. The business’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.10 earnings per share. On average, equities research analysts forecast that The Chemours Company will post 1.33 EPS for the current fiscal year.

Chemours Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Thursday, August 15th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 5.78%. The ex-dividend date of this dividend is Thursday, August 15th. Chemours’s payout ratio is currently -46.08%.

Hedge Funds Weigh In On Chemours

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CC. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Chemours by 169.3% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 35,105 shares of the specialty chemicals company’s stock worth $1,009,000 after acquiring an additional 22,067 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Chemours during the first quarter worth approximately $1,764,000. Edgestream Partners L.P. acquired a new position in Chemours during the first quarter valued at approximately $1,228,000. Assenagon Asset Management S.A. bought a new position in shares of Chemours in the second quarter valued at approximately $2,504,000. Finally, Easterly Investment Partners LLC acquired a new stake in shares of Chemours in the first quarter worth $1,153,000. Institutional investors 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.