Chemours (NYSE:CC) Stock Price Up 11.4% – Here’s Why

Shares of The Chemours Company (NYSE:CC) rose 11.4% on Tuesday . The company traded as high as $19.18 and last traded at $19.6450. Approximately 1,377,782 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 3,491,325 shares. The stock had previously closed at $17.64.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CC shares. Mizuho increased their price target on Chemours from $17.00 to $21.00 and gave the stock an “outperform” rating in a report on Thursday, March 5th. Royal Bank Of Canada reiterated an “outperform” rating and set a $18.00 target price on shares of Chemours in a research report on Friday, January 16th. Truist Financial increased their target price on shares of Chemours from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Chemours in a research note on Wednesday, January 21st. Finally, Morgan Stanley upped their price objective on shares of Chemours from $15.00 to $17.00 and gave the company an “equal weight” rating in a report on Monday, February 23rd. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Chemours presently has a consensus rating of “Hold” and an average target price of $18.40.

Chemours Stock Performance

The stock has a market cap of $2.87 billion, a price-to-earnings ratio of -7.71 and a beta of 1.60. The company’s fifty day simple moving average is $17.05 and its two-hundred day simple moving average is $14.85. The company has a debt-to-equity ratio of 16.33, a current ratio of 1.78 and a quick ratio of 0.85.

Chemours (NYSE:CC) last posted its earnings results on Thursday, February 19th. The specialty chemicals company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.01 by $0.04. Chemours had a negative net margin of 6.41% and a positive return on equity of 41.75%. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the previous year, the firm posted $0.09 earnings per share. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, analysts forecast that The Chemours Company will post 2.03 earnings per share for the current year.

Chemours Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were paid a $0.0875 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a $0.35 annualized dividend and a dividend yield of 1.8%. Chemours’s dividend payout ratio is -14.11%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Oregon Public Employees Retirement Fund lifted its stake in Chemours by 1.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 34,300 shares of the specialty chemicals company’s stock valued at $404,000 after acquiring an additional 600 shares in the last quarter. Amalgamated Bank grew its stake in shares of Chemours by 1.7% in the 3rd quarter. Amalgamated Bank now owns 43,528 shares of the specialty chemicals company’s stock worth $689,000 after acquiring an additional 740 shares in the last quarter. PFG Investments LLC raised its holdings in shares of Chemours by 7.6% in the fourth quarter. PFG Investments LLC now owns 12,494 shares of the specialty chemicals company’s stock valued at $147,000 after purchasing an additional 883 shares during the last quarter. State of Alaska Department of Revenue lifted its position in shares of Chemours by 1.2% during the fourth quarter. State of Alaska Department of Revenue now owns 76,257 shares of the specialty chemicals company’s stock valued at $899,000 after purchasing an additional 932 shares in the last quarter. Finally, Man Group plc lifted its position in shares of Chemours by 0.4% during the second quarter. Man Group plc now owns 271,108 shares of the specialty chemicals company’s stock valued at $3,104,000 after purchasing an additional 979 shares in the last quarter. Hedge funds and other institutional investors own 76.26% of the company’s stock.

About Chemours

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.