Chemours (NYSE:CC) Hits New 52-Week Low – Should You Sell?

The Chemours Company (NYSE:CC) shares hit a new 52-week low on Tuesday . The stock traded as low as $9.13 and last traded at $9.41, with a volume of 6642578 shares. The stock had previously closed at $10.13.

Analyst Ratings Changes

A number of analysts have recently issued reports on CC shares. Truist Financial lowered their price objective on shares of Chemours from $27.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Barclays decreased their target price on shares of Chemours from $16.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 28th. BMO Capital Markets cut their price target on shares of Chemours from $34.00 to $27.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Wall Street Zen downgraded shares of Chemours from a “hold” rating to a “sell” rating in a research note on Wednesday, May 21st. Finally, The Goldman Sachs Group decreased their price objective on Chemours from $21.00 to $14.00 and set a “neutral” rating for the company in a report on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, Chemours has an average rating of “Hold” and a consensus price target of $17.22.

Chemours Price Performance

The company has a quick ratio of 0.92, a current ratio of 1.68 and a debt-to-equity ratio of 6.70. The firm has a market cap of $1.50 billion, a P/E ratio of 17.63 and a beta of 1.76. The business has a fifty day moving average of $11.30 and a 200 day moving average of $15.49.

Chemours (NYSE:CC) last released its quarterly earnings results on Tuesday, May 6th. The specialty chemicals company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $1.36 billion. During the same period in the prior year, the business posted $0.32 earnings per share. Chemours’s revenue was up .4% compared to the same quarter last year. On average, sell-side analysts anticipate that The Chemours Company will post 2.03 earnings per share for the current year.

Chemours Dividend Announcement

The firm also recently declared a dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, May 19th will be given a $0.0875 dividend. The ex-dividend date is Friday, May 16th. This represents a dividend yield of 3.17%. Chemours’s payout ratio is 175.00%.

Insider Activity at Chemours

In other news, CFO Shane Hostetter bought 4,450 shares of the firm’s stock in a transaction on Monday, May 19th. The shares were purchased at an average cost of $11.28 per share, with a total value of $50,196.00. Following the acquisition, the chief financial officer now directly owns 59,694 shares in the company, valued at $673,348.32. This represents a 8.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Damian Gumpel bought 7,822 shares of the company’s stock in a transaction dated Tuesday, June 3rd. The stock was purchased at an average price of $9.95 per share, with a total value of $77,828.90. Following the completion of the transaction, the insider now directly owns 131,701 shares in the company, valued at approximately $1,310,424.95. This represents a 6.31% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 25,672 shares of company stock worth $251,573. Company insiders own 0.47% of the company’s stock.

Institutional Trading of Chemours

Large investors have recently made changes to their positions in the company. FNY Investment Advisers LLC acquired a new stake in Chemours in the first quarter valued at about $27,000. UMB Bank n.a. lifted its holdings in shares of Chemours by 73.9% in the first quarter. UMB Bank n.a. now owns 2,231 shares of the specialty chemicals company’s stock worth $30,000 after acquiring an additional 948 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Chemours by 170.7% in the 1st quarter. Farther Finance Advisors LLC now owns 2,290 shares of the specialty chemicals company’s stock valued at $30,000 after purchasing an additional 1,444 shares in the last quarter. SouthState Corp bought a new stake in shares of Chemours during the 1st quarter valued at approximately $34,000. Finally, Quadrant Capital Group LLC increased its position in Chemours by 100.4% during the 4th quarter. Quadrant Capital Group LLC now owns 2,234 shares of the specialty chemicals company’s stock worth $38,000 after purchasing an additional 1,119 shares in the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.

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.