Chemours (NYSE:CC) Stock Passes Below Fifty Day Moving Average – Here’s What Happened

The Chemours Company (NYSE:CC) passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $12.54 and traded as low as $11.68. Chemours shares last traded at $11.7420, with a volume of 2,023,955 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CC shares. Mizuho cut their target price on shares of Chemours from $19.00 to $18.00 and set an “outperform” rating for the company in a research report on Thursday, October 16th. UBS Group cut their price target on Chemours from $21.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. Truist Financial dropped their price objective on shares of Chemours from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, November 10th. JPMorgan Chase & Co. decreased their target price on Chemours from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, December 3rd. Finally, Royal Bank Of Canada lowered their target price on shares of Chemours from $19.00 to $17.00 and set an “outperform” rating on the stock in a report on Monday, November 10th. Five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $17.00.

Chemours Trading Up 2.2%

The business has a fifty day moving average price of $12.49 and a 200 day moving average price of $13.45. The company has a debt-to-equity ratio of 13.66, a current ratio of 1.71 and a quick ratio of 0.88. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of -5.40 and a beta of 1.59.

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

Chemours Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 14th were issued a dividend of $0.0875 per share. This represents a $0.35 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Friday, November 14th. Chemours’s payout ratio is presently -15.77%.

Hedge Funds Weigh In On Chemours

Several hedge funds and other institutional investors have recently modified their holdings of CC. MTM Investment Management LLC acquired a new position in shares of Chemours in the 2nd quarter valued at $27,000. Caitong International Asset Management Co. Ltd bought a new stake in Chemours in the third quarter valued at about $43,000. GAMMA Investing LLC lifted its stake in Chemours by 130.7% in the second quarter. GAMMA Investing LLC now owns 3,175 shares of the specialty chemicals company’s stock valued at $36,000 after buying an additional 1,799 shares during the period. Evelyn Partners Asset Management Ltd bought a new position in Chemours during the second quarter worth about $37,000. Finally, Advisory Services Network LLC acquired a new position in shares of Chemours during the 3rd quarter worth about $54,000. Institutional investors own 76.26% of the company’s stock.

About Chemours

Chemours Company, established in 2015 as a spin-off from E. I. du Pont de Nemours and Company, is a global chemistry organization headquartered in Wilmington, Delaware. Since its formation, Chemours has focused on delivering performance chemicals that help customers lower their carbon footprint, increase energy efficiency and conserve water. The company operates with a commitment to safety, environmental stewardship and innovation.

Chemours’ principal business activities are organized into three core segments.