Zacks Investment Research upgraded shares of Chemours Company (The) (NYSE:CC) from a hold rating to a strong-buy rating in a report published on Friday, July 14th. Zacks Investment Research currently has $51.00 price target on the specialty chemicals company’s stock.
According to Zacks, “Chemours Company is involved in chemical business. It operating segment consists of Titanium Technologies, Fluoroproducts and Chemical Solutions. Titanium Technologies segment produces titanium dioxide and premium white pigment. Fluoroproducts segment provides fluoroproducts, refrigerants and industrial fluoropolymer resins. Chemical Solutions segment provides industrial and specialty chemicals. The company’s brand consists of Teflon(R), Ti-Pure(R), Krytox(R) Viton(R), Opteon(R) and Nafion(R). Chemours Company is headquartered in Wilmington. “
A number of other analysts also recently issued reports on CC. UBS AG reiterated a sell rating and issued a $36.00 price objective (up from $35.00) on shares of Chemours Company (The) in a report on Wednesday, June 14th. BidaskClub upgraded shares of Chemours Company (The) from a hold rating to a buy rating in a report on Wednesday, July 12th. Citigroup Inc. upgraded shares of Chemours Company (The) from a neutral rating to a buy rating and lifted their price objective for the company from $43.00 to $45.00 in a report on Wednesday, July 5th. Jefferies Group LLC upgraded shares of Chemours Company (The) from a hold rating to a buy rating and lifted their price objective for the company from $35.00 to $48.00 in a report on Wednesday, March 29th. Finally, J P Morgan Chase & Co upgraded shares of Chemours Company (The) from a neutral rating to an overweight rating and lifted their price objective for the company from $39.00 to $50.00 in a report on Friday, May 12th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Buy and an average target price of $51.50.
Chemours Company (NYSE CC) opened at 46.34 on Friday. The firm has a 50 day moving average of $43.52 and a 200-day moving average of $38.05. The firm has a market cap of $8.56 billion, a price-to-earnings ratio of 30.33 and a beta of 3.63. Chemours Company has a one year low of $11.33 and a one year high of $51.51.
Chemours Company (The) (NYSE:CC) last posted its quarterly earnings data on Wednesday, August 2nd. The specialty chemicals company reported $0.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.02. Chemours Company (The) had a net margin of 4.96% and a return on equity of 122.97%. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period last year, the company earned $0.27 earnings per share. The firm’s revenue was up 14.8% compared to the same quarter last year. Equities research analysts forecast that Chemours Company will post $3.51 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 17th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $0.12 dividend on an annualized basis and a yield of 0.26%. Chemours Company (The)’s payout ratio is 8.11%.
In other Chemours Company (The) news, insider Paul Kirsch sold 19,036 shares of the company’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $41.42, for a total value of $788,471.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Erich Parker sold 4,908 shares of the company’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $45.53, for a total transaction of $223,461.24. The disclosure for this sale can be found here. 1.14% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in CC. Financial Architects Inc boosted its stake in shares of Chemours Company (The) by 1,230.3% in the second quarter. Financial Architects Inc now owns 2,940 shares of the specialty chemicals company’s stock worth $111,000 after buying an additional 2,719 shares during the last quarter. Acrospire Investment Management LLC boosted its stake in shares of Chemours Company (The) by 3.4% in the second quarter. Acrospire Investment Management LLC now owns 3,076 shares of the specialty chemicals company’s stock worth $117,000 after buying an additional 100 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Chemours Company (The) by 2,138.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,112 shares of the specialty chemicals company’s stock worth $118,000 after buying an additional 2,973 shares during the last quarter. Ropes Wealth Advisors LLC boosted its stake in shares of Chemours Company (The) by 82.4% in the first quarter. Ropes Wealth Advisors LLC now owns 3,099 shares of the specialty chemicals company’s stock worth $119,000 after buying an additional 1,400 shares during the last quarter. Finally, Schroder Investment Management Group acquired a new stake in shares of Chemours Company (The) during the first quarter worth about $156,000. 75.21% of the stock is owned by institutional investors.
About Chemours Company (The)
The Chemours Company is a provider of performance chemicals. The Company operates through three segments: Titanium Technologies, Fluoroproducts and Chemical Solutions. The Titanium Technologies segment is a producer of titanium dioxide (TiO2). The Fluoroproducts segment is a provider of fluoroproducts, including refrigerants and industrial fluoropolymer resins.
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