Citigroup Inc reaffirmed their neutral rating on shares of Chemours Co (NYSE:CC) in a research note issued to investors on Friday, April 14th. Citigroup Inc currently has a $40.00 price objective on the specialty chemicals company’s stock, up from their prior price objective of $34.00.
CC has been the subject of several other reports. Zacks Investment Research downgraded Chemours from a strong-buy rating to a hold rating in a report on Tuesday, January 17th. Susquehanna Bancshares Inc upgraded Chemours from a neutral rating to a positive rating and set a $40.00 price target for the company in a report on Friday, February 17th. Jefferies Group LLC upgraded Chemours from a hold rating to a buy rating and raised their price target for the company from $35.00 to $48.00 in a report on Wednesday, March 29th. Finally, Goldman Sachs Group Inc upgraded Chemours from a neutral rating to a buy rating in a report on Monday, February 13th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Buy and an average price target of $37.70.
Chemours (NYSE:CC) traded up 2.48% during mid-day trading on Friday, hitting $43.81. 1,410,506 shares of the stock traded hands. Chemours has a 1-year low of $5.82 and a 1-year high of $46.02. The firm has a market capitalization of $8.08 billion, a P/E ratio of 76.59 and a beta of 3.50. The company has a 50-day moving average of $39.42 and a 200 day moving average of $30.01.
Chemours (NYSE:CC) last issued its quarterly earnings results on Monday, May 1st. The specialty chemicals company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.25. Chemours had a return on equity of 81.19% and a net margin of 2.78%. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the company earned $0.06 earnings per share. The company’s revenue was up 10.8% on a year-over-year basis. On average, equities research analysts anticipate that Chemours will post $3.26 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Wednesday, May 17th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date is Monday, May 15th. Chemours’s payout ratio is 14.81%.
In other Chemours news, VP Erich Parker sold 4,908 shares of the company’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $45.53, for a total value of $223,461.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Mark Newman sold 22,781 shares of the company’s stock in a transaction on Friday, May 5th. The shares were sold at an average price of $39.83, for a total value of $907,367.23. The disclosure for this sale can be found here. Insiders own 0.78% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. LS Investment Advisors LLC boosted its stake in shares of Chemours by 3.9% in the third quarter. LS Investment Advisors LLC now owns 6,997 shares of the specialty chemicals company’s stock valued at $112,000 after buying an additional 265 shares in the last quarter. Ropes Wealth Advisors LLC boosted its stake in shares of Chemours by 82.4% in the first quarter. Ropes Wealth Advisors LLC now owns 3,099 shares of the specialty chemicals company’s stock valued at $119,000 after buying an additional 1,400 shares in the last quarter. Schroder Investment Management Group purchased a new stake in shares of Chemours during the first quarter valued at $156,000. Cypress Capital Management LLC WY boosted its stake in shares of Chemours by 1.9% in the first quarter. Cypress Capital Management LLC WY now owns 4,196 shares of the specialty chemicals company’s stock valued at $162,000 after buying an additional 80 shares in the last quarter. Finally, Clean Yield Group purchased a new stake in shares of Chemours during the first quarter valued at $167,000. 74.71% of the stock is currently owned by institutional investors.
The Chemours Company is a provider of performance chemicals. The Company operates through three segments: Titanium Technologies, Fluoroproducts and Chemical Solutions. The Titanium Technologies segment is a producer of titanium dioxide (TiO2). The Fluoroproducts segment is a provider of fluoroproducts, including refrigerants and industrial fluoropolymer resins.
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