The Chemours Company (NYSE:CC) Receives Consensus Recommendation of “Hold” from Analysts

The Chemours Company (NYSE:CC) has been assigned an average recommendation of “Hold” from the twelve ratings firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $20.10.

A number of equities research analysts recently weighed in on the stock. Mizuho set a $22.00 price target on shares of Chemours in a research note on Wednesday, August 5th. BMO Capital Markets lowered 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. Weiss Ratings cut shares of Chemours from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, August 6th. UBS Group restated a “neutral” rating and issued a $18.00 price target (down from $29.00) on shares of Chemours in a research report on Monday, August 10th. Finally, Royal Bank Of Canada dropped their price objective on Chemours from $26.00 to $22.00 and set an “outperform” rating for the company in a report on Thursday, August 6th.

Insider Activity at Chemours

In other news, CFO Shane Hostetter purchased 3,350 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The shares were acquired at an average cost of $14.94 per share, for a total transaction of $50,049.00. Following the transaction, 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. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Denise Dignam purchased 3,378 shares of Chemours stock in a transaction dated Tuesday, August 11th. The shares were purchased at an average cost of $14.95 per share, for a total transaction of $50,501.10. Following the completion of the transaction, the chief executive officer owned 339,916 shares of the company’s stock, valued at approximately $5,081,744.20. This represents a 1.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 8,663 shares of company stock worth $130,601 in the last ninety days. Company insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Chemours

Several institutional investors and hedge funds have recently added to or reduced their stakes in CC. BlackRock Inc. bought a new position in Chemours during the second quarter worth about $477,769,000. Wolf Hill Capital Management LP bought a new position in shares of Chemours during the second quarter worth approximately $59,698,056. Bank of New York Mellon Corp acquired a new stake in shares of Chemours during the second quarter worth $33,353,000. Bank of America Corp DE lifted its holdings in shares of Chemours by 79.1% during the first quarter. Bank of America Corp DE now owns 1,317,003 shares of the specialty chemicals company’s stock worth $29,014,000 after buying an additional 581,621 shares in the last quarter. Finally, Legal & General Group Plc bought a new stake in shares of Chemours in the second quarter valued at about $28,400,000. 76.26% of the stock is owned by institutional investors.

Chemours Price Performance

Chemours stock opened at $14.53 on Tuesday. The business’s 50-day simple moving average is $15.96 and its 200 day simple moving average is $19.51. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of -7.61 and a beta of 1.42. Chemours has a 12-month low of $10.44 and a 12-month high of $28.67. The company has a quick ratio of 0.88, a current ratio of 1.66 and a debt-to-equity ratio of 18.98.

Chemours (NYSE:CC) last announced its quarterly earnings data on Tuesday, August 4th. The specialty chemicals company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.07). Chemours had a positive return on equity of 60.64% and a negative net margin of 5.00%.The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the prior year, the firm posted ($2.54) earnings per share. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, research analysts anticipate that Chemours will post 0.87 earnings per share for the current year.

Chemours Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th were paid a $0.0875 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 2.4%. Chemours’s dividend payout ratio is -18.32%.

About Chemours

The Chemours Company (NYSE: CC) is a global chemistry company headquartered in Wilmington, Delaware. Formed in 2015 through a spin-off from DuPont, Chemours develops and manufactures chemical products used in industries including transportation, electronics, energy, construction, and consumer goods.

The company operates through businesses focused on thermal and specialized solutions, titanium technologies, and advanced performance materials. Its products include refrigerants and heat-transfer fluids, titanium dioxide pigments used to provide whiteness and opacity in coatings, plastics, and paper, as well as fluoropolymers, specialty fluids, and other performance materials used in demanding industrial applications.

Chemours serves customers in North America, Latin America, Europe, the Asia-Pacific region, and other international markets through manufacturing facilities, research and development operations, and commercial activities around the world.