Chemours (NYSE:CC) Share Price Crosses Below 50-Day Moving Average – Time to Sell?

The Chemours Company (NYSE:CC)’s stock price crossed below its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $15.06 and traded as low as $13.72. Chemours shares last traded at $13.8140, with a volume of 2,722,869 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts recently commented on CC shares. UBS Group cut their price objective on shares of Chemours from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday, October 5th. BMO Capital Markets decreased their target price on shares of Chemours from $26.00 to $18.00 and set an “outperform” rating for the company in a report on Thursday, August 13th. Morgan Stanley set a $18.00 target price on shares of Chemours in a research note on Monday, August 10th. JPMorgan Chase & Co. cut their price target on shares of Chemours from $22.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, August 13th. Finally, Mizuho reduced their price target on shares of Chemours from $20.00 to $18.00 and set an “outperform” rating for the company in a research report on Wednesday, September 30th. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $19.40.

Chemours Price Performance

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 $2.05 billion, a PE ratio of -7.13 and a beta of 1.41. The firm has a 50-day moving average of $15.00 and a 200 day moving average of $19.13.

Chemours (NYSE:CC) last issued its 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). The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Chemours had a positive return on equity of 60.64% and a negative net margin of 5.00%. Chemours’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period last year, the firm posted ($2.54) EPS. As a group, research analysts anticipate that The Chemours Company will post 0.87 earnings per share for the current fiscal year.

Chemours Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th were issued a dividend of $0.0875 per share. This represents a $0.35 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Friday, August 14th. Chemours’s payout ratio is presently -18.32%.

Insider Activity at Chemours

In related news, insider Calderon Gerardo Familiar bought 1,935 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The shares were bought at an average price of $15.53 per share, for a total transaction of $30,050.55. Following the completion of the acquisition, the insider owned 58,547 shares of the company’s stock, valued at $909,234.91. This trade represents a 3.42% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Denise Dignam bought 3,378 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was bought at an average price of $14.95 per share, for a total transaction of $50,501.10. Following the acquisition, the chief executive officer directly owned 339,916 shares of the company’s stock, valued at $5,081,744.20. The trade was a 1.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 8,663 shares of company stock worth $130,601 over the last quarter. Company insiders own 0.85% of the company’s stock.

Institutional Trading of Chemours

Large investors have recently modified their holdings of the company. Wedmont Private Capital purchased a new position in Chemours in the third quarter worth about $145,000. Engineers Gate Manager LP increased its position in shares of Chemours by 24.6% during the 2nd quarter. Engineers Gate Manager LP now owns 91,650 shares of the specialty chemicals company’s stock valued at $1,881,000 after purchasing an additional 18,106 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Chemours in the 2nd quarter worth approximately $125,000. Nykredit A S bought a new position in shares of Chemours in the 2nd quarter worth approximately $99,000. Finally, Corient Private Wealth LP boosted its holdings in shares of Chemours by 12.6% in the second quarter. Corient Private Wealth LP now owns 30,644 shares of the specialty chemicals company’s stock worth $629,000 after buying an additional 3,432 shares during the last quarter. Institutional investors own 76.26% of the company’s stock.

Chemours Company Profile

The Chemours Company (NYSE: CC) is a global chemical company that develops, manufactures and distributes specialty chemical products used in a range of industrial and consumer applications. Its portfolio serves markets including coatings, plastics, automotive, refrigeration and air conditioning, electronics, telecommunications, energy, healthcare and general manufacturing.

Chemours operates through three primary business segments: Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials.