Chemours (NYSE:CC) Hits New 1-Year Low After Analyst Downgrade

The Chemours Company (NYSE:CC) reached a new 52-week low during mid-day trading on Tuesday after Barclays lowered their price target on the stock from $23.00 to $19.00. Barclays currently has an equal weight rating on the stock. Chemours traded as low as $14.94 and last traded at $15.39, with a volume of 1464175 shares. The stock had previously closed at $16.15.

Several other equities analysts have also recently commented on CC. The Goldman Sachs Group lowered their price target on shares of Chemours from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Truist Financial began coverage on Chemours in a research note on Tuesday, January 28th. They issued a “buy” rating and a $27.00 price target for the company. Morgan Stanley dropped their price objective on Chemours from $25.00 to $22.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $25.00 target price on shares of Chemours in a research report on Thursday, December 12th. Finally, 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 report on Wednesday, February 19th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $23.11.

Hedge Funds Weigh In On Chemours

Large investors have recently modified their holdings of the business. Blue Trust Inc. grew its holdings in Chemours by 166.9% during the third quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 731 shares during the period. GAMMA Investing LLC lifted its holdings in Chemours by 99.7% during the 4th quarter. GAMMA Investing LLC now owns 1,532 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 765 shares during the last quarter. Truvestments Capital LLC bought a new position in Chemours during the third quarter worth $35,000. Brooklyn Investment Group acquired a new position in shares of Chemours in the third quarter valued at $37,000. Finally, Quadrant Capital Group LLC raised its position in shares of Chemours by 100.4% in the fourth quarter. Quadrant Capital Group LLC now owns 2,234 shares of the specialty chemicals company’s stock valued at $38,000 after purchasing an additional 1,119 shares during the period. 76.26% of the stock is currently owned by institutional investors and hedge funds.

Chemours Stock Up 1.3 %

The firm has a market cap of $2.39 billion, a P/E ratio of 28.07 and a beta of 1.81. The company has a debt-to-equity ratio of 6.70, a quick ratio of 0.92 and a current ratio of 1.68. The firm’s fifty day moving average is $17.96 and its 200 day moving average is $18.87.

Chemours (NYSE:CC) last issued its quarterly earnings data on Tuesday, February 18th. The specialty chemicals company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.37 billion. Chemours had a return on equity of 26.54% and a net margin of 1.51%. As a group, equities research analysts anticipate that The Chemours Company will post 2.03 earnings per share for the current fiscal year.

Chemours Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 6.25%. The ex-dividend date of this dividend is Friday, February 28th. Chemours’s dividend payout ratio (DPR) is currently 175.44%.

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.