The Goldman Sachs Group Cuts Chemours (NYSE:CC) Price Target to $21.00

Chemours (NYSE:CC) had its price objective lowered by The Goldman Sachs Group from $24.00 to $21.00 in a report released on Tuesday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the specialty chemicals company’s stock.

Several other equities analysts have also commented on CC. Royal Bank of Canada reiterated an “outperform” rating and issued a $25.00 target price on shares of Chemours in a research note on Thursday, December 12th. Morgan Stanley cut their price objective on shares of Chemours from $30.00 to $25.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. Barclays boosted their target price on shares of Chemours from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Finally, BMO Capital Markets increased their price target on shares of Chemours from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $24.13.

Chemours Trading Down 4.7 %

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

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

Chemours Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 15th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 5.60%. The ex-dividend date of this dividend was Friday, November 15th. Chemours’s dividend payout ratio is currently 200.00%.

Insider Buying and Selling at Chemours

In other news, SVP Alvenia Scarborough sold 7,500 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $20.64, for a total value of $154,800.00. Following the transaction, the senior vice president now directly owns 16,645 shares in the company, valued at approximately $343,552.80. This trade represents a 31.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.47% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Chemours

Large investors have recently bought and sold shares of the business. FMR LLC grew its holdings in shares of Chemours by 3.5% during the third quarter. FMR LLC now owns 18,142,202 shares of the specialty chemicals company’s stock valued at $368,650,000 after purchasing an additional 618,361 shares during the last quarter. Marshall Wace LLP grew its stake in Chemours by 23.8% during the 2nd quarter. Marshall Wace LLP now owns 7,009,868 shares of the specialty chemicals company’s stock worth $158,213,000 after buying an additional 1,347,710 shares during the last quarter. Khrom Capital Management LLC increased its position in Chemours by 54.6% in the second quarter. Khrom Capital Management LLC now owns 3,456,626 shares of the specialty chemicals company’s stock worth $78,016,000 after buying an additional 1,220,967 shares during the period. Geode Capital Management LLC lifted its stake in Chemours by 1.2% in the third quarter. Geode Capital Management LLC now owns 2,491,748 shares of the specialty chemicals company’s stock valued at $50,646,000 after buying an additional 28,803 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Chemours by 26.7% during the second quarter. American Century Companies Inc. now owns 1,811,957 shares of the specialty chemicals company’s stock valued at $40,896,000 after acquiring an additional 382,100 shares during the period. Institutional investors own 76.26% of the company’s stock.

About Chemours

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.