The Chemours Company (NYSE:CC) Receives Average Rating of “Hold” from Brokerages

The Chemours Company (NYSE:CC) has been given a consensus recommendation of “Hold” by the twelve brokerages that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $20.10.

Several brokerages have recently commented on CC. Alembic Global Advisors reiterated an “overweight” rating and set a $30.00 price target on shares of Chemours in a research report on Wednesday, May 13th. BMO Capital Markets cut their price objective on shares of Chemours from $26.00 to $18.00 and set an “outperform” rating on the stock in a report on Thursday, August 13th. Truist Financial lowered their target price on shares of Chemours from $30.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, August 6th. UBS Group reiterated a “neutral” rating and set a $18.00 target price (down from $29.00) on shares of Chemours in a research report on Monday, August 10th. Finally, Royal Bank Of Canada cut their price target on Chemours from $26.00 to $22.00 and set an “outperform” rating on the stock in a research note on Thursday, August 6th.

Chemours Price Performance

Shares of CC stock opened at $15.74 on Friday. The stock has a 50-day moving average price of $18.14 and a 200 day moving average price of $20.04. The company has a quick ratio of 0.88, a current ratio of 1.66 and a debt-to-equity ratio of 18.98. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of -8.24 and a beta of 1.43. Chemours has a 12 month low of $10.44 and a 12 month high of $28.67.

Chemours (NYSE:CC) last announced its quarterly earnings data on Tuesday, August 4th. The specialty chemicals company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.07). Chemours had a positive return on equity of 60.64% and a negative net margin of 5.00%.The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the prior year, the firm posted ($2.54) earnings per share. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. Research analysts expect that Chemours will post 0.87 EPS for the current year.

Chemours Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be issued a $0.0875 dividend. This represents a $0.35 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Friday, August 14th. Chemours’s dividend payout ratio is currently -18.32%.

Insider Buying and Selling at Chemours

In related news, insider Calderon Gerardo Familiar bought 1,935 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was bought at an average cost of $15.53 per share, for a total transaction of $30,050.55. Following the transaction, the insider owned 58,547 shares of the company’s stock, valued at $909,234.91. This represents a 3.42% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Denise Dignam purchased 3,378 shares of the stock in a transaction dated Tuesday, August 11th. The stock was bought at an average cost of $14.95 per share, with a total value of $50,501.10. Following the completion of the purchase, the chief executive officer owned 339,916 shares in the company, valued at $5,081,744.20. The trade was a 1.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have purchased 8,663 shares of company stock valued at $130,601. 0.85% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Chemours in the first quarter worth $3,745,000. Old West Investment Management LLC bought a new position in shares of Chemours during the second quarter worth $7,152,000. Versor Investments LP acquired a new position in shares of Chemours in the 4th quarter valued at $314,000. Penn Capital Management Company LLC grew its holdings in shares of Chemours by 113.0% in the 4th quarter. Penn Capital Management Company LLC now owns 1,386,819 shares of the specialty chemicals company’s stock valued at $16,366,000 after buying an additional 735,668 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Chemours by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 17,920,868 shares of the specialty chemicals company’s stock valued at $211,287,000 after buying an additional 490,778 shares in the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.

Chemours Company Profile

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.