Chemours Company (The) (NYSE:CC) has earned a consensus recommendation of “Buy” from the ten ratings firms that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $55.00.
Several equities analysts recently weighed in on the stock. BidaskClub downgraded shares of Chemours Company (The) from a “buy” rating to a “hold” rating in a report on Saturday, June 17th. Citigroup Inc. restated a “neutral” rating and issued a $40.00 price objective (up previously from $34.00) on shares of Chemours Company (The) in a research report on Friday, April 14th. Jefferies Group LLC restated a “buy” rating and issued a $50.00 price objective (up previously from $48.00) on shares of Chemours Company (The) in a research report on Thursday, July 13th. UBS AG upgraded Chemours Company (The) from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $36.00 to $50.00 in a research report on Monday. Finally, Susquehanna Bancshares Inc upped their price objective on Chemours Company (The) from $45.00 to $55.00 and gave the stock a “positive” rating in a research report on Monday, May 15th.
Chemours Company (NYSE CC) traded up 4.84% during trading on Friday, hitting $46.56. 1,097,933 shares of the company were exchanged. Chemours Company has a 1-year low of $11.09 and a 1-year high of $51.51. The stock has a market capitalization of $8.60 billion, a PE ratio of 30.47 and a beta of 3.63. The firm’s 50 day moving average price is $43.25 and its 200-day moving average price is $37.90.
Chemours Company (The) (NYSE:CC) last issued its quarterly earnings results on Wednesday, August 2nd. The specialty chemicals company reported $0.87 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.02. Chemours Company (The) had a net margin of 4.96% and a return on equity of 122.97%. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the company earned $0.27 EPS. Chemours Company (The)’s quarterly revenue was up 14.8% on a year-over-year basis. Equities analysts predict that Chemours Company will post $3.51 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 17th will be issued a $0.03 dividend. The ex-dividend date is Tuesday, August 15th. This represents a $0.12 dividend on an annualized basis and a yield of 0.27%. Chemours Company (The)’s payout ratio is currently 8.11%.
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In related news, insider Paul Kirsch sold 19,036 shares of the firm’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $41.42, for a total transaction of $788,471.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Erich Parker sold 4,908 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $45.53, for a total value of $223,461.24. The disclosure for this sale can be found here. 1.14% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of CC. Financial Architects Inc increased its stake in shares of Chemours Company (The) by 1,230.3% in the second quarter. Financial Architects Inc now owns 2,940 shares of the specialty chemicals company’s stock worth $111,000 after buying an additional 2,719 shares during the last quarter. Acrospire Investment Management LLC boosted its position in shares of Chemours Company (The) by 3.4% in the second quarter. Acrospire Investment Management LLC now owns 3,076 shares of the specialty chemicals company’s stock worth $117,000 after buying an additional 100 shares during the period. Benjamin F. Edwards & Company Inc. boosted its position in shares of Chemours Company (The) by 2,138.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,112 shares of the specialty chemicals company’s stock worth $118,000 after buying an additional 2,973 shares during the period. Ropes Wealth Advisors LLC boosted its position in shares of Chemours Company (The) by 82.4% in the first quarter. Ropes Wealth Advisors LLC now owns 3,099 shares of the specialty chemicals company’s stock worth $119,000 after buying an additional 1,400 shares during the period. Finally, Schroder Investment Management Group purchased a new position in shares of Chemours Company (The) during the first quarter worth approximately $156,000. 75.21% of the stock is owned by hedge funds and other institutional investors.
About Chemours Company (The)
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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