Barclays Has Lowered Expectations for Chemours (NYSE:CC) Stock Price

Chemours (NYSE:CC) had its target price reduced by Barclays from $19.00 to $16.00 in a report released on Tuesday morning,Benzinga reports. Barclays currently has an equal weight rating on the specialty chemicals company’s stock.

CC has been the subject of several other reports. BMO Capital Markets lowered their price objective on shares of Chemours from $34.00 to $27.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Royal Bank of Canada restated an “outperform” rating and issued a $25.00 target price on shares of Chemours in a research note on Thursday, December 12th. The Goldman Sachs Group dropped their price target on Chemours from $24.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Truist Financial initiated coverage on Chemours in a report on Tuesday, January 28th. They issued a “buy” rating and a $27.00 price objective for the company. Finally, Mizuho upgraded shares of Chemours from a “neutral” rating to an “outperform” rating and set a $19.00 target price on the stock in a report on Thursday, March 27th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $22.56.

Chemours Price Performance

Shares of Chemours stock opened at $12.96 on Tuesday. The business has a 50 day moving average of $16.15 and a 200 day moving average of $18.15. Chemours has a 52 week low of $12.73 and a 52 week high of $29.21. The company has a market cap of $1.94 billion, a PE ratio of 22.73 and a beta of 2.00. The company has a quick ratio of 0.92, a current ratio of 1.68 and a debt-to-equity ratio of 6.70.

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

Chemours Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.72%. Chemours’s dividend payout ratio is currently 175.44%.

Institutional Trading of Chemours

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Corient Private Wealth LLC grew its holdings in shares of Chemours by 4.7% during the fourth quarter. Corient Private Wealth LLC now owns 13,428 shares of the specialty chemicals company’s stock valued at $227,000 after buying an additional 604 shares during the last quarter. GAMMA Investing LLC raised its holdings 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 acquiring an additional 765 shares during the last quarter. HUB Investment Partners LLC lifted its position in Chemours by 1.4% in the 4th quarter. HUB Investment Partners LLC now owns 58,250 shares of the specialty chemicals company’s stock valued at $984,000 after acquiring an additional 821 shares in the last quarter. Itau Unibanco Holding S.A. boosted its stake in Chemours by 39.3% during the 4th quarter. Itau Unibanco Holding S.A. now owns 3,554 shares of the specialty chemicals company’s stock valued at $60,000 after purchasing an additional 1,003 shares during the last quarter. Finally, ARGA Investment Management LP increased its holdings in shares of Chemours by 0.7% in the 4th quarter. ARGA Investment Management LP now owns 148,614 shares of the specialty chemicals company’s stock worth $2,512,000 after purchasing an additional 1,032 shares in the last quarter. 76.26% of the stock is currently owned by institutional investors.

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.