Chemours Co. (CC) Hits New 1-Year High at $11.66
Shares of Chemours Co. (NYSE:CC) reached a new 52-week high during trading on Thursday . The stock traded as high as $11.66 and last traded at $11.58, with a volume of 1,990,149 shares. The stock had previously closed at $10.94.
CC has been the topic of several analyst reports. Vetr raised Chemours from a “strong sell” rating to a “sell” rating and set a $7.56 target price on the stock in a report on Tuesday, June 14th. Argus raised Chemours from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a report on Wednesday. They noted that the move was a valuation call. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Chemours in a report on Wednesday, May 4th. Citigroup Inc. raised their target price on Chemours from $5.00 to $8.00 and gave the stock a “neutral” rating in a report on Monday, April 18th. Finally, Zacks Investment Research raised Chemours from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a report on Tuesday, April 26th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $10.01.
The stock’s market cap is $2.08 billion. The stock has a 50 day moving average price of $8.91 and a 200 day moving average price of $7.74.
Chemours (NYSE:CC) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.10. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.42 billion. The company’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.10) EPS. On average, equities research analysts predict that Chemours Co. will post $0.81 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Wednesday, August 17th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Monday, August 15th.
Other hedge funds and institutional investors have recently modified their holdings of the company. State of New Jersey Common Pension Fund D raised its position in shares of Chemours by 1,700.0% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 900,000 shares of the company’s stock valued at $4,824,000 after buying an additional 850,000 shares during the period. State of Wisconsin Investment Board raised its position in shares of Chemours by 6.8% in the fourth quarter. State of Wisconsin Investment Board now owns 402,390 shares of the company’s stock valued at $2,157,000 after buying an additional 25,620 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. raised its position in shares of Chemours by 54.0% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 277,881 shares of the company’s stock valued at $1,489,000 after buying an additional 97,430 shares during the period.
The Chemours Company is a provider of performance chemicals. The Company operates through three segments: Titanium Technologies, Fluoroproducts and Chemical Solutions. The Company’s Titanium Technologies segment manufactures titanium dioxide (TiO2), which is a pigment used to deliver whiteness, opacity, brightness and protection from sunlight in applications, such as architectural and industrial coatings, plastic packaging, polyvinyl chloride (PVC) window profiles, laminate papers, coated paper and coated paperboard used for packaging.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.