Chemours (NYSE:CC) Shares Gap Up to $12.66
Chemours Co (NYSE:CC)’s share price gapped up before the market opened on Monday . The stock had previously closed at $12.12, but opened at $12.66. Chemours shares last traded at $12.95, with a volume of 3,771,034 shares trading hands.
A number of research analysts have recently weighed in on the stock. SunTrust Banks downgraded shares of Chemours from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Barclays reissued a “buy” rating and set a $42.00 target price on shares of Chemours in a research report on Monday, June 3rd. Royal Bank of Canada downgraded shares of Chemours from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $32.00 to $16.00 in a research report on Friday, August 9th. JPMorgan Chase & Co. downgraded shares of Chemours from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $40.00 to $34.00 in a research report on Monday, May 6th. Finally, Argus downgraded shares of Chemours from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. Chemours has an average rating of “Hold” and a consensus target price of $34.00.
The company’s fifty day moving average is $17.52 and its 200 day moving average is $28.96. The company has a market capitalization of $1.95 billion, a P/E ratio of 2.28, a P/E/G ratio of 0.30 and a beta of 2.48. The company has a current ratio of 1.96, a quick ratio of 1.09 and a debt-to-equity ratio of 5.37.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 16th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 7.72%. The ex-dividend date is Thursday, August 15th. Chemours’s dividend payout ratio (DPR) is presently 17.64%.
In other news, SVP David C. Shelton bought 15,000 shares of the stock in a transaction on Monday, August 5th. The shares were acquired at an average cost of $13.82 per share, for a total transaction of $207,300.00. Following the purchase, the senior vice president now directly owns 98,269 shares of the company’s stock, valued at approximately $1,358,077.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider E Bryan Snell bought 12,000 shares of the stock in a transaction on Tuesday, August 6th. The stock was purchased at an average price of $13.77 per share, for a total transaction of $165,240.00. Following the completion of the purchase, the insider now directly owns 117,774 shares in the company, valued at $1,621,747.98. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 77,790 shares of company stock valued at $1,490,412. 2.34% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its stake in Chemours by 2.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 989,719 shares of the specialty chemicals company’s stock valued at $27,929,000 after acquiring an additional 27,651 shares in the last quarter. Geode Capital Management LLC raised its stake in Chemours by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 1,734,170 shares of the specialty chemicals company’s stock valued at $48,906,000 after acquiring an additional 58,490 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in Chemours during the 1st quarter valued at $224,000. Virtu Financial LLC bought a new stake in Chemours during the 1st quarter valued at $532,000. Finally, Nisa Investment Advisors LLC raised its stake in Chemours by 599.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 13,980 shares of the specialty chemicals company’s stock valued at $519,000 after acquiring an additional 11,980 shares in the last quarter. Institutional investors and hedge funds own 76.18% of the company’s stock.
About Chemours (NYSE:CC)
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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