Shares of Chemours Company (The) (NYSE:CC) have earned a consensus recommendation of “Buy” from the ten ratings firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $55.00.
CC has been the topic of several analyst reports. J P Morgan Chase & Co upgraded shares of Chemours Company (The) from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $39.00 to $50.00 in a research note on Friday, May 12th. Citigroup Inc. upgraded shares of Chemours Company (The) from a “neutral” rating to a “buy” rating and raised their target price for the company from $43.00 to $45.00 in a research note on Wednesday, July 5th. Jefferies Group LLC reiterated a “buy” rating and issued a $48.00 target price on shares of Chemours Company (The) in a research note on Friday, June 16th. BidaskClub upgraded shares of Chemours Company (The) from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Finally, Zacks Investment Research lowered shares of Chemours Company (The) from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th.
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Shares of Chemours Company (NYSE CC) traded up 0.27% during mid-day trading on Wednesday, hitting $47.62. The stock had a trading volume of 1,499,413 shares. The company’s 50 day moving average price is $46.06 and its 200 day moving average price is $39.52. Chemours Company has a 12-month low of $12.47 and a 12-month high of $51.51. The stock has a market cap of $8.80 billion, a P/E ratio of 31.16 and a beta of 3.63.
Chemours Company (The) (NYSE:CC) last announced its quarterly earnings results on Wednesday, August 2nd. The specialty chemicals company reported $0.87 EPS for the quarter, topping the Thomson Reuters’ 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 analyst estimates of $1.49 billion. During the same quarter in the prior year, the business posted $0.27 EPS. Chemours Company (The)’s quarterly revenue was up 14.8% on a year-over-year basis. Equities research analysts predict that Chemours Company will post $3.51 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 17th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date of this dividend is Tuesday, August 15th. Chemours Company (The)’s dividend payout ratio (DPR) is presently 8.11%.
In other Chemours Company (The) news, insider E Bryan Snell sold 10,000 shares of the stock in a transaction on Friday, August 11th. The shares were sold at an average price of $46.24, for a total value of $462,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Amy Trojanowski sold 2,500 shares of the stock in a transaction on Friday, August 11th. The shares were sold at an average price of $46.03, for a total transaction of $115,075.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,536 shares of company stock valued at $1,365,946. Insiders own 1.14% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Navellier & Associates Inc bought a new stake in shares of Chemours Company (The) during the second quarter worth $2,632,000. Archford Capital Strategies LLC bought a new stake in shares of Chemours Company (The) during the second quarter worth $1,178,000. Cookson Peirce & Co. Inc. acquired a new position in Chemours Company (The) during the second quarter worth approximately $2,703,000. Public Employees Retirement System of Ohio increased its position in Chemours Company (The) by 306.4% in the second quarter. Public Employees Retirement System of Ohio now owns 98,590 shares of the specialty chemicals company’s stock worth $3,739,000 after buying an additional 74,329 shares during the last quarter. Finally, Koch Industries Inc. acquired a new position in Chemours Company (The) during the second quarter worth approximately $704,000. 76.51% of the stock is owned by hedge funds and other 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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