Chemours Co. (CC) Reaches New 1-Year High at $12.77
Shares of Chemours Co. (NYSE:CC) reached a new 52-week high on Tuesday . The stock traded as high as $12.77 and last traded at $12.51, with a volume of 1,101,038 shares. The stock had previously closed at $12.45.
Several analysts recently weighed in on the company. Vetr raised Chemours from a “strong sell” rating to a “sell” rating and set a $7.56 price target for the company in a report on Tuesday, June 14th. Argus reissued a “hold” rating on shares of Chemours in a report on Friday, May 13th. JPMorgan Chase & Co. reissued a “hold” rating on shares of Chemours in a report on Wednesday, May 4th. TheStreet raised Chemours from a “sell” rating to a “hold” rating in a report on Tuesday, August 9th. Finally, Citigroup Inc. reissued a “neutral” rating and set a $9.00 price target (down from $10.50) on shares of Chemours in a report on Friday, July 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $10.44.
The company’s market capitalization is $2.28 billion. The firm’s 50-day moving average is $9.55 and its 200 day moving average is $8.17.
Chemours (NYSE:CC) last released its earnings results on Tuesday, August 9th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.10. During the same period in the prior year, the company earned ($0.10) earnings per share. The business earned $1.38 billion during the quarter, compared to the consensus estimate of $1.42 billion. The business’s revenue was down 8.3% on a year-over-year basis. Equities analysts anticipate that Chemours Co. will post $0.94 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Wednesday, August 17th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Monday, August 15th.
Several institutional investors have added to or reduced their stakes in CC. Connor Clark & Lunn Investment Management Ltd. raised its position in Chemours by 213.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 193,735 shares of the company’s stock valued at $1,038,000 after buying an additional 131,875 shares in the last quarter. 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 in the last quarter. Schwab Charles Investment Management Inc. raised its position in Chemours by 25.1% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 387,325 shares of the company’s stock valued at $2,077,000 after buying an additional 77,742 shares in the last quarter. 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 in the last quarter.
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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