Chemours Co. (CC) Trading 8.5% Higher
Chemours Co. (NYSE:CC)’s share price traded up 8.5% during mid-day trading on Monday . The company traded as high as $12.45 and last traded at $12.42, with a volume of 2,255,870 shares trading hands. The stock had previously closed at $11.45.
A number of equities analysts have issued reports on the stock. Vetr upgraded shares of Chemours from a “strong sell” rating to a “sell” rating and set a $7.56 price objective on the stock in a research report on Tuesday, June 14th. Argus reiterated a “hold” rating on shares of Chemours in a research report on Friday, May 13th. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Chemours in a research report on Wednesday, May 4th. Citigroup Inc. reiterated a “neutral” rating and set a $9.00 price target (down previously from $10.50) on shares of Chemours in a research report on Friday, July 15th. Finally, Jefferies Group reiterated a “hold” rating on shares of Chemours in a research report on Wednesday, June 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. Chemours currently has an average rating of “Hold” and an average price target of $10.01.
The company’s market cap is $2.22 billion. The stock’s 50-day moving average is $8.91 and its 200 day moving average is $7.74.
Chemours (NYSE:CC) last released its quarterly earnings data on Tuesday, August 9th. The company reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.10. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.42 billion. Chemours’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same quarter last year, the business earned ($0.10) EPS. On average, equities analysts forecast that Chemours Co. will post $0.81 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 17th will be given a dividend of $0.03 per share. The ex-dividend date is Monday, August 15th. This represents a $0.12 annualized dividend and a yield of 0.98%.
A number of institutional investors have added to or reduced their stakes in the stock. Cornerstone Capital Management Holdings LLC. raised its position in 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. State of Wisconsin Investment Board raised its position in 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, State of New Jersey Common Pension Fund D raised its position in 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.
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.
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