Chemours (NYSE:CC) Trading Down 7.4% – Should You Sell?

Shares of The Chemours Company (NYSE:CC) dropped 7.4% on Monday . The company traded as low as $14.64 and last traded at $14.5850. 2,927,428 shares were traded during mid-day trading, a decline of 5% from the average session volume of 3,086,154 shares. The stock had previously closed at $15.75.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CC shares. Zacks Research upgraded Chemours from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 21st. Alembic Global Advisors restated an “overweight” rating and set a $30.00 price objective on shares of Chemours in a research note on Wednesday, May 13th. JPMorgan Chase & Co. lifted their price objective on shares of Chemours from $17.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, May 21st. Weiss Ratings lowered shares of Chemours from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday. Finally, Royal Bank Of Canada lowered their target price on shares of Chemours from $26.00 to $22.00 and set an “outperform” rating for the company in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $21.00.

Chemours Stock Down 7.5%

The stock has a fifty day moving average of $19.23 and a 200 day moving average of $20.06. The company has a debt-to-equity ratio of 18.98, a current ratio of 1.66 and a quick ratio of 0.88. The firm has a market capitalization of $2.19 billion, a P/E ratio of -7.64 and a beta of 1.43.

Chemours (NYSE:CC) last announced its earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.07). The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Chemours had a negative net margin of 5.00% and a positive return on equity of 60.64%. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($2.54) earnings per share. On average, research analysts anticipate that The Chemours Company will post 0.91 EPS for the current fiscal year.

Chemours Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be issued a dividend of $0.0875 per share. This represents a $0.35 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, August 14th. Chemours’s dividend payout ratio (DPR) is -18.32%.

Institutional Trading of Chemours

Several hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC grew its position in Chemours by 10.9% in the first quarter. Parallel Advisors LLC now owns 5,366 shares of the specialty chemicals company’s stock worth $118,000 after acquiring an additional 527 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in Chemours by 1.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 34,300 shares of the specialty chemicals company’s stock valued at $404,000 after purchasing an additional 600 shares during the period. PFG Investments LLC raised its position in Chemours by 7.6% during the fourth quarter. PFG Investments LLC now owns 12,494 shares of the specialty chemicals company’s stock valued at $147,000 after purchasing an additional 883 shares during the period. State of Alaska Department of Revenue lifted its stake in shares of Chemours by 1.2% in the 4th quarter. State of Alaska Department of Revenue now owns 76,257 shares of the specialty chemicals company’s stock valued at $899,000 after purchasing an additional 932 shares during the last quarter. Finally, Man Group plc lifted its stake in shares of Chemours by 0.4% in the 2nd quarter. Man Group plc now owns 271,108 shares of the specialty chemicals company’s stock valued at $3,104,000 after purchasing an additional 979 shares during the last quarter. Institutional investors own 76.26% of the company’s stock.

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.