Chemours (NYSE:CC) Trading Down 5.7% – Should You Sell?

The Chemours Company (NYSE:CC) shares dropped 5.7% during trading on Monday . The company traded as low as $17.89 and last traded at $17.9240. Approximately 1,482,750 shares changed hands during trading, a decline of 53% from the average session volume of 3,142,536 shares. The stock had previously closed at $19.01.

Analysts Set New Price Targets

Several research analysts recently weighed in on CC shares. Alembic Global Advisors reissued an “overweight” rating and issued a $30.00 target price on shares of Chemours in a research note on Wednesday, May 13th. Zacks Research upgraded Chemours from a “strong sell” rating to a “hold” rating in a report on Friday, April 24th. Morgan Stanley boosted their price target on Chemours from $17.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. raised their price target on shares of Chemours from $17.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, May 21st. Finally, Mizuho reduced their target price on Chemours from $30.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, July 1st. Six research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $24.10.

Chemours Trading Down 5.6%

The company has a current ratio of 1.82, a quick ratio of 0.87 and a debt-to-equity ratio of 18.98. The stock has a market cap of $2.70 billion, a P/E ratio of -6.80 and a beta of 1.41. The firm’s 50-day simple moving average is $22.50 and its 200 day simple moving average is $19.29.

Chemours (NYSE:CC) last released its quarterly earnings results on Tuesday, May 5th. The specialty chemicals company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.10. The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Chemours had a positive return on equity of 52.49% and a negative net margin of 6.82%.The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.13 earnings per share. As a group, equities research analysts anticipate that The Chemours Company will post 1.16 earnings per share for the current year.

Chemours Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Sunday, May 17th were given a dividend of $0.0875 per share. The ex-dividend date was Friday, May 15th. This represents a $0.35 annualized dividend and a dividend yield of 2.0%. Chemours’s dividend payout ratio (DPR) is -13.26%.

Hedge Funds Weigh In On Chemours

A number of hedge funds and other institutional investors have recently modified their holdings of CC. Baird Financial Group Inc. acquired a new stake in shares of Chemours during the 1st quarter valued at $148,000. Royal Bank of Canada grew its holdings in Chemours by 6.8% during the first quarter. Royal Bank of Canada now owns 585,702 shares of the specialty chemicals company’s stock valued at $7,926,000 after purchasing an additional 37,382 shares during the last quarter. AQR Capital Management LLC bought a new position in shares of Chemours in the first quarter valued at approximately $161,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Chemours by 149.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,243 shares of the specialty chemicals company’s stock worth $593,000 after buying an additional 25,899 shares during the last quarter. Finally, Empowered Funds LLC acquired a new position in Chemours during the 1st quarter worth $403,000. Institutional investors and hedge funds 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.