The Chemours Company (NYSE:CC) Stock Has Average Target Price of $19.40

Shares of The Chemours Company (NYSE:CC) have been assigned an average recommendation of “Hold” from the twelve ratings firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $19.40.

Several brokerages have commented on CC. Mizuho dropped their price objective on Chemours from $20.00 to $18.00 and set an “outperform” rating on the stock in a report on Wednesday, September 30th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $16.00 target price on shares of Chemours in a research note on Friday. Royal Bank Of Canada decreased their target price on Chemours from $26.00 to $22.00 and set an “outperform” rating on the stock in a research report on Thursday, August 6th. Weiss Ratings cut shares of Chemours from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, August 6th. Finally, JPMorgan Chase & Co. cut their price target on shares of Chemours from $22.00 to $15.00 and set a “neutral” rating for the company in a report on Thursday, August 13th.

Chemours Stock Down 1.6%

CC stock opened at $13.61 on Friday. The firm has a market cap of $2.05 billion, a PE ratio of -7.13 and a beta of 1.41. The company has a debt-to-equity ratio of 18.98, a quick ratio of 0.88 and a current ratio of 1.66. The firm’s fifty day moving average is $15.00 and its 200 day moving average is $19.13. Chemours has a one year low of $10.44 and a one year high of $28.67.

Chemours (NYSE:CC) last released its quarterly earnings data on Tuesday, August 4th. The specialty chemicals company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.07). Chemours had a negative net margin of 5.00% and a positive return on equity of 60.64%. The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the previous year, the firm posted ($2.54) EPS. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. On average, research analysts forecast that Chemours will post 0.87 EPS for the current year.

Chemours Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Friday, August 14th were given a dividend of $0.0875 per share. This represents a $0.35 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Friday, August 14th. Chemours’s dividend payout ratio is -18.32%.

Insider Activity at Chemours

In other news, CEO Denise Dignam acquired 3,378 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were bought at an average cost of $14.95 per share, for a total transaction of $50,501.10. Following the acquisition, the chief executive officer owned 339,916 shares in the company, valued at approximately $5,081,744.20. This represents a 1.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Calderon Gerardo Familiar acquired 1,935 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were purchased at an average price of $15.53 per share, with a total value of $30,050.55. Following the completion of the purchase, the insider owned 58,547 shares in the company, valued at $909,234.91. This represents a 3.42% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders have purchased 8,663 shares of company stock valued at $130,601. 0.85% of the stock is owned by corporate insiders.

Institutional Trading of Chemours

Several large investors have recently made changes to their positions in CC. Parallel Advisors LLC raised its stake in Chemours by 10.9% in the 1st quarter. Parallel Advisors LLC now owns 5,366 shares of the specialty chemicals company’s stock valued at $118,000 after purchasing an additional 527 shares during the last quarter. Abel Hall LLC boosted its stake in Chemours by 12.6% during the 1st quarter. Abel Hall LLC now owns 12,267 shares of the specialty chemicals company’s stock worth $270,000 after purchasing an additional 1,369 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Chemours during the second quarter worth $34,000. Allworth Financial LP purchased a new stake in shares of Chemours during the second quarter worth $51,000. Finally, State of Wyoming acquired a new stake in shares of Chemours in the second quarter valued at about $67,000. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Chemours Company Profile

The Chemours Company (NYSE: CC) is a global chemical company that develops, manufactures and distributes specialty chemical products used in a range of industrial and consumer applications. Its portfolio serves markets including coatings, plastics, automotive, refrigeration and air conditioning, electronics, telecommunications, energy, healthcare and general manufacturing.

Chemours operates through three primary business segments: Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials.