The Chemours Company (NYSE:CC) Given Average Rating of “Hold” by Analysts

The Chemours Company (NYSE:CC) has been given a consensus recommendation of “Hold” by the twelve analysts that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $20.10.

Several equities research analysts have recently weighed in on CC shares. Mizuho set a $22.00 target price on shares of Chemours in a report on Wednesday, August 5th. The Goldman Sachs Group restated a “neutral” rating and issued a $17.00 price target on shares of Chemours in a research report on Thursday, August 13th. Weiss Ratings cut shares of Chemours from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, August 6th. Zacks Research lowered shares of Chemours from a “strong-buy” rating to a “strong sell” rating in a report on Tuesday, August 11th. Finally, Truist Financial cut their target price on shares of Chemours from $30.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, August 6th.

Chemours Price Performance

Chemours stock opened at $15.74 on Friday. The business has a 50 day simple moving average of $18.14 and a 200 day simple moving average of $20.04. 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 company has a market capitalization of $2.37 billion, a PE ratio of -8.24 and a beta of 1.43. Chemours has a one year low of $10.44 and a one year high of $28.67.

Chemours (NYSE:CC) last announced its quarterly earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.07). Chemours had a negative net margin of 5.00% and a positive return on equity of 60.64%. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter last year, the company earned ($2.54) earnings per share. The business’s revenue was down 1.5% on a year-over-year basis. On average, sell-side analysts forecast that Chemours will post 0.87 EPS for the current fiscal year.

Chemours Dividend Announcement

The firm also recently declared 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 2.2%. The ex-dividend date of this dividend is Friday, August 14th. Chemours’s dividend payout ratio (DPR) is currently -18.32%.

Insider Buying and Selling at Chemours

In other Chemours news, insider Calderon Gerardo Familiar acquired 1,935 shares of Chemours stock in a transaction on Wednesday, August 12th. The shares were bought at an average price of $15.53 per share, with a total value of $30,050.55. Following the completion of the purchase, the insider owned 58,547 shares in the company, valued at $909,234.91. This trade represents a 3.42% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Shane Hostetter bought 3,350 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were acquired at an average price of $14.94 per share, for a total transaction of $50,049.00. Following the acquisition, the chief financial officer directly owned 102,698 shares of the company’s stock, valued at approximately $1,534,308.12. The trade was a 3.37% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders acquired 8,663 shares of company stock worth $130,601. 0.85% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Chemours

A number of hedge funds have recently added to or reduced their stakes in CC. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Chemours during the second quarter worth approximately $34,000. Atlas Capital Advisors Inc. acquired a new stake in shares of Chemours in the fourth quarter valued at approximately $26,000. Aster Capital Management DIFC Ltd bought a new position in Chemours in the 4th quarter worth approximately $28,000. Allworth Financial LP bought a new position in Chemours in the 2nd quarter worth approximately $51,000. Finally, Covestor Ltd lifted its holdings in Chemours by 204.7% during the 4th quarter. Covestor Ltd now owns 2,602 shares of the specialty chemicals company’s stock worth $31,000 after buying an additional 1,748 shares in the last quarter. 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.