Chemours Co. (CC) Stock Price Down 2.3%
Chemours Co. (NYSE:CC) shares were down 2.3% during mid-day trading on Tuesday . The stock traded as low as $14.07 and last traded at $14.12, with a volume of 1,225,469 shares traded. The stock had previously closed at $14.45.
Several brokerages have weighed in on CC. Vetr downgraded Chemours from a “hold” rating to a “sell” rating and set a $7.56 price target for the company. in a report on Wednesday, June 8th. Jefferies Group reiterated a “hold” rating on shares of Chemours in a report on Wednesday, June 15th. Citigroup Inc. reiterated a “neutral” rating and issued a $9.00 price target (down from $10.50) on shares of Chemours in a report on Friday, July 15th. Argus upgraded Chemours from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a report on Wednesday, August 10th. They noted that the move was a valuation call. Finally, TheStreet upgraded Chemours from a “sell” rating to a “hold” rating in a report on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Chemours presently has an average rating of “Hold” and a consensus price target of $11.94.
The stock’s 50 day moving average is $12.30 and its 200 day moving average is $9.45. The company’s market capitalization is $2.56 billion.
Chemours (NYSE:CC) last issued its earnings results on Tuesday, August 9th. The company reported $0.27 earnings per share 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 analysts’ expectations of $1.42 billion. Chemours had a negative net margin of 1.48% and a positive return on equity of 95.01%. The firm’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.10) earnings per share. Equities analysts predict that Chemours Co. will post $0.92 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 17th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend was Monday, August 15th. Chemours’s payout ratio is -26.09%.
Hedge funds have recently modified their holdings of the company. Advisor Partners LLC boosted its stake in shares of Chemours by 5.0% in the second quarter. Advisor Partners LLC now owns 12,156 shares of the company’s stock worth $100,000 after buying an additional 580 shares during the last quarter. Seaward Management Limited Partnership boosted its stake in shares of Chemours by 16.3% in the second quarter. Seaward Management Limited Partnership now owns 12,568 shares of the company’s stock worth $103,000 after buying an additional 1,765 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new stake in shares of Chemours during the second quarter worth $118,000. Winton Capital Group Ltd boosted its stake in shares of Chemours by 1.3% in the second quarter. Winton Capital Group Ltd now owns 15,473 shares of the company’s stock worth $127,000 after buying an additional 194 shares during the last quarter. Finally, Williams Jones & Associates LLC boosted its stake in shares of Chemours by 7.8% in the first quarter. Williams Jones & Associates LLC now owns 16,226 shares of the company’s stock worth $114,000 after buying an additional 1,169 shares during the last quarter. Hedge funds and other institutional investors own 76.63% of the company’s stock.
Chemours Company Profile
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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