Mizuho Cuts Chemours (NYSE:CC) Price Target to $21.00

Chemours (NYSE:CC) had its price objective cut by Mizuho from $22.00 to $21.00 in a report published on Tuesday morning,Benzinga reports. They currently have a neutral rating on the specialty chemicals company’s stock.

A number of other equities analysts have also weighed in on the company. BMO Capital Markets lifted their price objective on Chemours from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. The Goldman Sachs Group decreased their price target on Chemours from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $25.00 price objective on shares of Chemours in a research note on Thursday, December 12th. Morgan Stanley decreased their target price on shares of Chemours from $30.00 to $25.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 5th. Finally, Barclays raised their price target on shares of Chemours from $21.00 to $23.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Chemours presently has an average rating of “Hold” and a consensus target price of $24.13.

Chemours Trading Down 4.7 %

Chemours stock opened at $17.87 on Tuesday. The stock has a 50-day moving average price of $19.28 and a 200 day moving average price of $19.94. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of 35.74 and a beta of 1.83. Chemours has a 52 week low of $15.10 and a 52 week high of $32.48. The company has a quick ratio of 0.92, a current ratio of 1.73 and a debt-to-equity ratio of 6.05.

Chemours (NYSE:CC) last announced its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.32 by $0.08. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Chemours had a net margin of 1.34% and a return on equity of 29.48%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.64 EPS. Sell-side analysts anticipate that Chemours will post 1.35 EPS for the current year.

Chemours Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 15th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 5.60%. Chemours’s dividend payout ratio (DPR) is 200.00%.

Insider Buying and Selling

In related news, SVP Alvenia Scarborough sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $20.64, for a total transaction of $154,800.00. Following the completion of the sale, the senior vice president now directly owns 16,645 shares in the company, valued at approximately $343,552.80. The trade was a 31.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.47% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CC. Matrix Trust Co purchased a new position in shares of Chemours in the third quarter worth about $25,000. Blue Trust Inc. raised its holdings in Chemours by 166.9% in the 3rd quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company’s stock valued at $26,000 after acquiring an additional 731 shares during the last quarter. GAMMA Investing LLC lifted its stake in Chemours by 99.7% in the 4th quarter. GAMMA Investing LLC now owns 1,532 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 765 shares in the last quarter. Truvestments Capital LLC acquired a new position in shares of Chemours during the 3rd quarter worth approximately $35,000. Finally, Brooklyn Investment Group purchased a new stake in shares of Chemours in the third quarter valued at approximately $37,000. Hedge funds and other institutional investors 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.