StockNews.com Lowers Chemours (NYSE:CC) to Buy

StockNews.com cut shares of Chemours (NYSE:CCGet Rating) from a strong-buy rating to a buy rating in a report published on Tuesday.

Several other analysts have also commented on the company. Bank of America lowered Chemours from a buy rating to a neutral rating and dropped their price objective for the company from $48.00 to $44.00 in a report on Tuesday, June 14th. Barclays raised their price objective on Chemours from $37.00 to $46.00 in a report on Monday, May 9th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $40.83.

Shares of CC stock opened at $29.39 on Tuesday. The stock has a 50 day moving average of $38.12 and a 200 day moving average of $33.90. The company has a current ratio of 1.91, a quick ratio of 1.25 and a debt-to-equity ratio of 3.16. The stock has a market cap of $4.57 billion, a P/E ratio of 6.55, a P/E/G ratio of 0.45 and a beta of 1.79. Chemours has a twelve month low of $22.56 and a twelve month high of $44.95.

Chemours (NYSE:CCGet Rating) last issued its quarterly earnings data on Monday, May 2nd. The specialty chemicals company reported $1.46 EPS for the quarter, beating the consensus estimate of $0.92 by $0.54. Chemours had a return on equity of 76.47% and a net margin of 11.19%. The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same period last year, the company earned $0.71 earnings per share. On average, research analysts predict that Chemours will post 5.22 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Monday, May 16th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 13th. This represents a $1.00 dividend on an annualized basis and a yield of 3.40%. Chemours’s dividend payout ratio is currently 22.27%.

In related news, insider Alisha Bellezza sold 14,365 shares of the business’s stock in a transaction on Thursday, May 5th. The stock was sold at an average price of $40.48, for a total value of $581,495.20. Following the sale, the insider now owns 38,797 shares in the company, valued at approximately $1,570,502.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Edwin C. Sparks sold 22,142 shares of the business’s stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $43.59, for a total value of $965,169.78. Following the completion of the sale, the insider now owns 101,038 shares in the company, valued at approximately $4,404,246.42. The disclosure for this sale can be found here. Insiders sold 296,280 shares of company stock worth $11,989,133 in the last 90 days. Company insiders own 3.04% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CC. BlackRock Inc. grew its stake in Chemours by 29.0% during the 1st quarter. BlackRock Inc. now owns 18,075,740 shares of the specialty chemicals company’s stock worth $569,023,000 after purchasing an additional 4,060,250 shares in the last quarter. Millennium Management LLC boosted its position in shares of Chemours by 315.7% during the 4th quarter. Millennium Management LLC now owns 2,287,108 shares of the specialty chemicals company’s stock worth $76,755,000 after acquiring an additional 1,736,888 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Chemours by 214.1% during the 1st quarter. First Trust Advisors LP now owns 1,314,288 shares of the specialty chemicals company’s stock worth $41,374,000 after acquiring an additional 895,847 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Chemours during the 1st quarter worth about $19,175,000. Finally, Geode Capital Management LLC boosted its position in shares of Chemours by 26.8% during the 4th quarter. Geode Capital Management LLC now owns 2,781,603 shares of the specialty chemicals company’s stock worth $93,350,000 after acquiring an additional 588,765 shares in the last quarter. 76.38% of the stock is owned by hedge funds and other institutional investors.

Chemours Company Profile (Get Rating)

The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. It operates through four segments: Titanium Technologies, Thermal & Specialized Solutions, Advanced Performance Materials, and Chemical Solutions. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure and BaiMax brands for delivering whiteness, brightness, opacity, and protection in various of applications, such as architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride, laminate papers used for furniture and building materials, coated paper, and coated paperboard used for packaging.

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Analyst Recommendations for Chemours (NYSE:CC)

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