The Chemours Company (NYSE:CC) to Issue Dividend of $0.09

The Chemours Company (NYSE:CC) announced a dividend on Friday, May 16th, investing.com reports. Investors of record on Monday, May 19th will be given a dividend of 0.0875 per share by the specialty chemicals company on Monday, June 16th. This represents a dividend yield of 3.17%. The ex-dividend date of this dividend is Friday, May 16th.

Chemours has a payout ratio of 14.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Chemours to earn $2.71 per share next year, which means the company should continue to be able to cover its $0.35 annual dividend with an expected future payout ratio of 12.9%.

Chemours Price Performance

CC opened at $11.09 on Friday. The stock’s 50-day moving average price is $12.36 and its 200 day moving average price is $16.35. Chemours has a 12-month low of $9.33 and a 12-month high of $29.17. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of 19.46 and a beta of 1.76. The company has a current ratio of 1.68, a quick ratio of 0.92 and a debt-to-equity ratio of 6.70.

Chemours (NYSE:CC) last issued its quarterly earnings results on Tuesday, May 6th. The specialty chemicals company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.06). Chemours had a return on equity of 26.54% and a net margin of 1.51%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period in the prior year, the company posted $0.32 EPS. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. As a group, sell-side analysts expect that Chemours will post 2.03 earnings per share for the current year.

Institutional Trading of Chemours

Institutional investors have recently modified their holdings of the stock. Baird Financial Group Inc. acquired a new stake in Chemours during the 1st quarter worth $148,000. AQR Capital Management LLC acquired a new stake in shares of Chemours during the first quarter worth about $161,000. Finally, Royal Bank of Canada boosted its position in shares of Chemours by 6.8% in the 1st 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 period. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Morgan Stanley reduced their target price on shares of Chemours from $22.00 to $15.00 and set an “equal weight” rating on the stock in a report on Monday. The Goldman Sachs Group reduced their price objective on Chemours from $21.00 to $14.00 and set a “neutral” rating on the stock in a research note on Wednesday. StockNews.com cut Chemours from a “hold” rating to a “sell” rating in a research note on Thursday, May 8th. BMO Capital Markets cut their price target on Chemours from $34.00 to $27.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Finally, UBS Group decreased their price objective on Chemours from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $17.56.

Chemours Company Profile

The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. It operates through three segments: Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure brand for delivering whiteness, brightness, opacity, durability, efficiency, and protection in various of applications, such as architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride, laminate papers used for furniture and building materials, coated paper, and coated paperboard used for packaging.