Chemours Co. (CC) Reaches New 52-Week High at $12.77
Chemours Co. (NYSE:CC)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $12.77 and last traded at $12.51, with a volume of 1,101,038 shares traded. The stock had previously closed at $12.45.
A number of equities analysts recently commented on the company. JPMorgan Chase & Co. reissued a “hold” rating on shares of Chemours in a report on Wednesday, May 4th. TheStreet raised shares of Chemours from a “sell” rating to a “hold” rating in a report on Tuesday, August 9th. Argus reissued a “hold” rating on shares of Chemours in a report on Friday, May 13th. Zacks Investment Research cut shares of Chemours from a “buy” rating to a “hold” rating in a report on Tuesday, May 10th. Finally, Vetr cut shares of Chemours from a “hold” rating to a “sell” rating and set a $7.56 target price on the stock. in a report on Wednesday, June 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $10.44.
The firm’s 50 day moving average price is $9.77 and its 200-day moving average price is $8.26. The firm’s market cap is $2.25 billion.
Chemours (NYSE:CC) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.10. The firm earned $1.38 billion during the quarter, compared to analyst estimates of $1.42 billion. The firm’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.10) EPS. Equities analysts forecast that Chemours Co. will post $0.94 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Wednesday, August 17th will be given a $0.03 dividend. The ex-dividend date of this dividend is Monday, August 15th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.97%.
Other hedge funds and institutional investors recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. increased 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 worth $2,077,000 after buying an additional 77,742 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased 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 worth $1,038,000 after buying an additional 131,875 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D increased 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 worth $4,824,000 after buying an additional 850,000 shares during 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.
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.