Chemours (NYSE:CC) Hits New 52-Week High – Still a Buy?

Shares of The Chemours Company (NYSE:CC) reached a new 52-week high on Wednesday . The stock traded as high as $24.40 and last traded at $23.7990, with a volume of 242481 shares. The stock had previously closed at $23.72.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CC. Royal Bank Of Canada set a $26.00 price target on Chemours and gave the stock an “outperform” rating in a report on Friday, April 10th. Mizuho boosted their price objective on Chemours from $17.00 to $21.00 and gave the company an “outperform” rating in a research report on Thursday, March 5th. Jefferies Financial Group reissued a “hold” rating and set a $17.00 target price on shares of Chemours in a research note on Monday, February 23rd. BMO Capital Markets cut their price target on shares of Chemours from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Monday, February 23rd. Finally, UBS Group upped their price target on shares of Chemours from $23.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, April 9th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $20.40.

Chemours Stock Up 0.8%

The company has a debt-to-equity ratio of 16.33, a current ratio of 1.78 and a quick ratio of 0.85. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of -9.63 and a beta of 1.41. The firm has a 50-day moving average price of $20.03 and a two-hundred day moving average price of $15.81.

Chemours (NYSE:CC) last released its earnings results on Thursday, February 19th. The specialty chemicals company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.01 by $0.04. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Chemours had a positive return on equity of 41.75% and a negative net margin of 6.41%.The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.09 EPS. As a group, sell-side analysts anticipate that The Chemours Company will post 1.35 earnings per share for the current fiscal year.

Chemours Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were paid a dividend of $0.0875 per share. This represents a $0.35 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Friday, February 27th. Chemours’s dividend payout ratio is currently -14.11%.

Institutional Trading of Chemours

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wesbanco Bank Inc. acquired a new position in shares of Chemours during the 1st quarter worth approximately $267,000. Louisiana State Employees Retirement System acquired a new stake in shares of Chemours in the 1st quarter valued at approximately $1,465,000. Corient Private Wealth LLC grew its stake in shares of Chemours by 63.7% in the fourth quarter. Corient Private Wealth LLC now owns 31,680 shares of the specialty chemicals company’s stock valued at $374,000 after buying an additional 12,328 shares in the last quarter. Alpine Global Management LLC acquired a new position in Chemours during the fourth quarter worth $176,000. Finally, Invesco Ltd. increased its holdings in Chemours by 14.0% during the fourth quarter. Invesco Ltd. now owns 948,125 shares of the specialty chemicals company’s stock worth $11,178,000 after buying an additional 116,385 shares during the last quarter. Institutional investors own 76.26% of the company’s stock.

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.