Chemours (NYSE:CC) Trading Down 7.5% – Time to Sell?

The Chemours Company (NYSE:CC)’s share price dropped 7.5% on Monday . The stock traded as low as $11.93 and last traded at $11.9840. Approximately 1,031,669 shares changed hands during trading, a decline of 69% from the average daily volume of 3,347,992 shares. The stock had previously closed at $12.95.

Analysts Set New Price Targets

CC has been the subject of a number of recent research reports. Zacks Research downgraded shares of Chemours from a “hold” rating to a “strong sell” rating in a research report on Friday, October 17th. Mizuho cut their price target on Chemours from $19.00 to $18.00 and set an “outperform” rating for the company in a report on Thursday, October 16th. JPMorgan Chase & Co. decreased their price objective on Chemours from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 3rd. UBS Group cut their price objective on Chemours from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, November 11th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Chemours in a report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $17.00.

Chemours Stock Up 0.4%

The business’s 50 day moving average is $12.73 and its 200 day moving average is $13.40. The company has a quick ratio of 0.88, a current ratio of 1.71 and a debt-to-equity ratio of 13.66. The company has a market cap of $1.76 billion, a P/E ratio of -5.31 and a beta of 1.59.

Chemours (NYSE:CC) last announced its quarterly earnings data on Thursday, November 6th. The specialty chemicals company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.04). The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Chemours had a negative net margin of 5.70% and a positive return on equity of 35.27%. The business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.40 earnings per share. As a group, equities analysts anticipate that The Chemours Company will post 2.03 earnings per share for the current fiscal year.

Chemours Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 14th were issued a $0.0875 dividend. The ex-dividend date was Friday, November 14th. This represents a $0.35 dividend on an annualized basis and a yield of 3.0%. Chemours’s dividend payout ratio (DPR) is presently -15.77%.

Institutional Trading of Chemours

Hedge funds have recently bought and sold shares of the business. Hudson Bay Capital Management LP purchased a new stake in shares of Chemours in the third quarter valued at approximately $1,925,000. Penn Capital Management Company LLC purchased a new position in shares of Chemours during the 3rd quarter worth approximately $10,325,000. CIBC Bancorp USA Inc. acquired a new stake in Chemours in the 3rd quarter valued at approximately $254,000. Caitong International Asset Management Co. Ltd acquired a new position in Chemours during the third quarter worth $43,000. Finally, Advisory Services Network LLC purchased a new position in shares of Chemours during the third quarter worth $54,000. Institutional investors and hedge funds own 76.26% of the company’s stock.

Chemours Company Profile

The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. It operates through three segments: Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure brand for delivering whiteness, brightness, opacity, durability, efficiency, and protection in various of applications, such as architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride, laminate papers used for furniture and building materials, coated paper, and coated paperboard used for packaging.