Chemours Co. (CC) Trading 3.6% Higher
Chemours Co. (NYSE:CC) traded up 3.6% on Thursday . The company traded as high as $12.99 and last traded at $12.83, with a volume of 1,058,465 shares changing hands. The stock had previously closed at $12.39.
CC has been the topic of several research analyst reports. Jefferies Group reiterated a “hold” rating on shares of Chemours in a research note on Wednesday, June 15th. Barclays PLC lifted their price target on shares of Chemours from $14.00 to $15.00 and gave the stock an “overweight” rating in a research note on Monday, May 9th. Zacks Investment Research lowered shares of Chemours from a “buy” rating to a “hold” rating in a research note on Tuesday, May 10th. TheStreet upgraded shares of Chemours from a “sell” rating to a “hold” rating in a research note on Tuesday, August 9th. Finally, Citigroup Inc. reiterated a “neutral” rating and set a $9.00 price target (down from $10.50) on shares of Chemours in a research note on Friday, July 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Chemours presently has an average rating of “Hold” and a consensus target price of $10.44.
The firm’s market cap is $2.30 billion. The company’s 50-day moving average price is $10.13 and its 200-day moving average price is $8.35.
Chemours (NYSE:CC) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.27 EPS for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.10. During the same period in the prior year, the business earned ($0.10) EPS. The firm earned $1.38 billion during the quarter, compared to the consensus estimate of $1.42 billion. The company’s revenue for the quarter was down 8.3% compared to the same quarter last year. Equities research analysts anticipate 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. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Monday, August 15th.
Several institutional investors have recently added to or reduced their stakes in the stock. 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 worth $1,038,000 after buying an additional 131,875 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of 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 during the last quarter. Finally, State of New Jersey Common Pension Fund D increased its stake 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 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.