Chemours Co. (CC) Trading Up 1.5%
Chemours Co. (NYSE:CC) was up 1.5% on Wednesday . The stock traded as high as $8.33 and last traded at $8.30, with a volume of 1,954,430 shares. The stock had previously closed at $8.18.
Several equities research analysts have recently weighed in on CC shares. Jefferies Group reiterated a “hold” rating on shares of Chemours in a research report on Wednesday, June 15th. Vetr upgraded shares of Chemours from a “strong sell” rating to a “sell” rating and set a $7.56 price objective for the company in a research report on Tuesday, June 14th. Zacks Investment Research cut shares of Chemours from a “hold” rating to a “sell” rating in a research report on Monday, April 4th. Barclays PLC increased their price objective on shares of Chemours from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Monday, May 9th. Finally, Argus restated a “hold” rating on shares of Chemours in a report on Friday, May 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. Chemours presently has an average rating of “Hold” and a consensus price target of $10.01.
The firm’s market cap is $1.50 billion. The firm’s 50-day moving average price is $8.53 and its 200-day moving average price is $7.00.
Chemours (NYSE:CC) last posted its quarterly earnings results on Monday, May 2nd. The company reported $0.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.04. The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.27 billion. The company’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.33 earnings per share. On average, equities research analysts anticipate that Chemours Co. will post $0.68 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Tuesday, May 17th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date was Friday, May 13th.
In related news, CFO Mark Newman acquired 2,800 shares of Chemours stock in a transaction on Friday, May 13th. The shares were acquired at an average cost of $9.71 per share, with a total value of $27,188.00. Following the transaction, the chief financial officer now owns 108,533 shares in the company, valued at $1,053,855.43. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Bradley J. Bell acquired 10,000 shares of Chemours stock in a transaction on Wednesday, May 4th. The shares were bought at an average cost of $9.65 per share, for a total transaction of $96,500.00. Following the completion of the transaction, the director now owns 21,747 shares in the company, valued at approximately $209,858.55. The disclosure for this purchase can be found here.
Several hedge funds have added to or reduced their stakes in CC. South Dakota Investment Council increased its stake in Chemours by 293.3% in the fourth quarter. South Dakota Investment Council now owns 773,459 shares of the company’s stock worth $4,146,000 after buying an additional 576,797 shares in the last quarter. Brown Advisory Inc. increased its stake in Chemours by 9.1% in the fourth quarter. Brown Advisory Inc. now owns 246,270 shares of the company’s stock worth $1,320,000 after buying an additional 20,561 shares in the last quarter. Retirement Systems of Alabama increased its stake in Chemours by 1.3% in the fourth quarter. Retirement Systems of Alabama now owns 232,559 shares of the company’s stock worth $1,247,000 after buying an additional 3,045 shares in the last quarter. Cornerstone Capital Management Holdings LLC. increased its stake in Chemours by 54.0% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 277,881 shares of the company’s stock worth $1,489,000 after buying an additional 97,430 shares in the last quarter. Finally, State of Wisconsin Investment Board increased its stake in Chemours by 6.8% in the fourth quarter. State of Wisconsin Investment Board now owns 402,390 shares of the company’s stock worth $2,157,000 after buying an additional 25,620 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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