Chemours (NYSE:CC) Stock Price Passes Below Fifty Day Moving Average – Should You Sell?

The Chemours Company (NYSE:CC)’s stock price crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $23.07 and traded as low as $22.00. Chemours shares last traded at $22.40, with a volume of 2,230,951 shares traded.

Wall Street Analyst Weigh In

CC has been the subject of a number of recent research reports. Jefferies Financial Group reiterated a “hold” rating and issued a $17.00 price objective on shares of Chemours in a report on Monday, February 23rd. UBS Group upped their price objective on shares of Chemours from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Truist Financial upped their price objective on shares of Chemours from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Zacks Research upgraded shares of Chemours from a “strong sell” rating to a “hold” rating in a report on Friday, April 24th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Chemours in a report on Monday, April 20th. Six investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $24.60.

Chemours Price Performance

The company has a debt-to-equity ratio of 18.98, a current ratio of 1.82 and a quick ratio of 0.87. The stock’s fifty day simple moving average is $23.07 and its 200-day simple moving average is $18.49. The company has a market capitalization of $3.37 billion, a P/E ratio of -8.48 and a beta of 1.40.

Chemours (NYSE:CC) last released its quarterly earnings results on Tuesday, May 5th. The specialty chemicals company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.10. Chemours had a negative net margin of 6.82% and a positive return on equity of 52.49%. The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the prior year, the company earned $0.13 earnings per share. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, equities analysts forecast that The Chemours Company will post 1.07 earnings per share for the current fiscal year.

Chemours Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Sunday, May 17th will be issued a dividend of $0.0875 per share. This represents a $0.35 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Friday, May 15th. Chemours’s dividend payout ratio is -13.26%.

Institutional Investors Weigh In On Chemours

A number of hedge funds have recently bought and sold shares of CC. Cooper Creek Partners Management LLC bought a new stake in Chemours during the third quarter valued at about $63,103,000. Scopia Capital Management LP lifted its stake in shares of Chemours by 71.7% in the second quarter. Scopia Capital Management LP now owns 3,355,261 shares of the specialty chemicals company’s stock valued at $38,418,000 after buying an additional 1,401,539 shares during the period. State Street Corp lifted its stake in shares of Chemours by 22.7% in the second quarter. State Street Corp now owns 6,114,328 shares of the specialty chemicals company’s stock valued at $70,009,000 after buying an additional 1,131,682 shares during the period. Wolf Hill Capital Management LP bought a new stake in shares of Chemours in the third quarter valued at about $17,025,000. Finally, Sona Asset Management US LLC lifted its stake in shares of Chemours by 176.9% in the fourth quarter. Sona Asset Management US LLC now owns 1,651,275 shares of the specialty chemicals company’s stock valued at $19,469,000 after buying an additional 1,055,000 shares during the period. 76.26% of the stock is currently owned by institutional investors.

Chemours Company Profile

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.