Chemours (NYSE:CC) Trading 7.8% Higher – Still a Buy?

The Chemours Company (NYSE:CC) shares traded up 7.8% during mid-day trading on Tuesday . The stock traded as high as $19.95 and last traded at $19.9440. 839,986 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 3,614,777 shares. The stock had previously closed at $18.50.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CC. Weiss Ratings reissued a “sell (d)” rating on shares of Chemours in a research note on Wednesday, January 21st. JPMorgan Chase & Co. lifted their price target on shares of Chemours from $13.00 to $17.00 and gave the stock a “neutral” rating in a research report on Monday, February 23rd. BMO Capital Markets dropped their price target on Chemours from $20.00 to $19.00 and set an “outperform” rating on the stock in a report on Monday, February 23rd. Royal Bank Of Canada reiterated an “outperform” rating and set a $18.00 price objective on shares of Chemours in a research report on Friday, January 16th. Finally, Morgan Stanley raised their price objective on Chemours from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Monday, February 23rd. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Chemours has an average rating of “Hold” and an average target price of $18.40.

Chemours Stock Up 9.8%

The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.85 and a current ratio of 1.78. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of -8.20 and a beta of 1.60. The business’s 50 day moving average is $17.53 and its 200 day moving average is $14.97.

Chemours (NYSE:CC) last announced its earnings results on Thursday, February 19th. The specialty chemicals company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.04. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.33 billion. Chemours had a negative net margin of 6.41% and a positive return on equity of 41.75%. The company’s revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.09 EPS. Equities analysts expect that The Chemours Company will post 2.03 earnings per share for the current year.

Chemours Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were issued a dividend of $0.0875 per share. The ex-dividend date was Friday, February 27th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 1.7%. Chemours’s payout ratio is currently -14.11%.

Institutional Investors Weigh In On Chemours

Several hedge funds have recently bought and sold shares of the business. Oregon Public Employees Retirement Fund grew its stake in Chemours by 1.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 34,300 shares of the specialty chemicals company’s stock valued at $404,000 after acquiring an additional 600 shares in the last quarter. Amalgamated Bank lifted its position in shares of Chemours by 1.7% in the third quarter. Amalgamated Bank now owns 43,528 shares of the specialty chemicals company’s stock worth $689,000 after purchasing an additional 740 shares in the last quarter. PFG Investments LLC boosted its holdings in shares of Chemours by 7.6% during the fourth quarter. PFG Investments LLC now owns 12,494 shares of the specialty chemicals company’s stock worth $147,000 after purchasing an additional 883 shares during the period. State of Alaska Department of Revenue grew its position in Chemours by 1.2% during the fourth 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 in the last quarter. Finally, Man Group plc grew its position in Chemours by 0.4% during the second 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 in the last quarter. 76.26% of the stock is owned by hedge funds and other institutional investors.

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.