Chemours Co Declares Quarterly Dividend of $0.25 (NYSE:CC)
Chemours Co (NYSE:CC) announced a quarterly dividend on Wednesday, July 31st, RTT News reports. Investors of record on Friday, August 16th will be given a dividend of 0.25 per share by the specialty chemicals company on Monday, September 16th. This represents a $1.00 dividend on an annualized basis and a yield of 7.94%. The ex-dividend date is Thursday, August 15th.
Chemours has raised its dividend payment by an average of 13.1% per year over the last three years. Chemours has a payout ratio of 17.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Chemours to earn $4.16 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 24.0%.
CC stock opened at $12.60 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 1.96 and a debt-to-equity ratio of 5.37. The company has a market cap of $2.18 billion, a PE ratio of 2.22, a price-to-earnings-growth ratio of 0.33 and a beta of 2.48. The stock’s fifty day moving average price is $18.97. Chemours has a fifty-two week low of $12.33 and a fifty-two week high of $46.13.
In related news, Director Bradley J. Bell purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were bought at an average price of $24.06 per share, for a total transaction of $120,300.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mary B. Cranston acquired 1,790 shares of Chemours stock in a transaction that occurred on Wednesday, August 7th. The stock was acquired at an average cost of $13.99 per share, for a total transaction of $25,042.10. The disclosure for this purchase can be found here. Insiders purchased 89,290 shares of company stock worth $1,760,602 in the last 90 days. 2.34% of the stock is owned by company insiders.
Several research analysts have weighed in on CC shares. SunTrust Banks cut Chemours from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Jefferies Financial Group lowered their price objective on Chemours from $48.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, June 10th. JPMorgan Chase & Co. cut Chemours from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $40.00 to $34.00 in a research report on Monday, May 6th. ValuEngine cut Chemours from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 1st. Finally, Barclays reiterated a “buy” rating and set a $42.00 price objective on shares of Chemours in a research report on Monday, June 3rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $34.00.
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, Fluoroproducts, and Chemical Solutions. The Titanium Technologies segment manufactures and sells titanium dioxide under the Ti-Pure and BaiMax brands for various applications in architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride window profiles, laminate papers used for furniture and building materials, and coated papers and paperboards used for packaging.
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