Chemours (NYSE:CC) Price Target Cut to $22.00 by Analysts at Truist Financial

Chemours (NYSE:CC) had its price objective decreased by Truist Financial from $27.00 to $22.00 in a research report released on Monday,Benzinga reports. Truist Financial currently has a buy rating on the specialty chemicals company’s stock.

CC has been the subject of several other reports. Mizuho raised shares of Chemours from a “neutral” rating to an “outperform” rating and set a $19.00 price objective for the company in a report on Thursday, March 27th. Morgan Stanley cut their price target on Chemours from $25.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Barclays decreased their price objective on Chemours from $19.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 1st. BMO Capital Markets decreased their price target on Chemours from $34.00 to $27.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Finally, The Goldman Sachs Group cut their price objective on shares of Chemours from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $22.00.

Chemours Stock Up 2.4 %

Chemours stock opened at $11.55 on Monday. Chemours has a twelve month low of $9.33 and a twelve month high of $29.21. The company has a quick ratio of 0.92, a current ratio of 1.68 and a debt-to-equity ratio of 6.70. The firm has a 50 day moving average price of $14.40 and a 200-day moving average price of $17.54. The company has a market capitalization of $1.73 billion, a P/E ratio of 20.26 and a beta of 1.84.

Chemours (NYSE:CC) last issued its earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts predict that Chemours will post 2.03 EPS for the current year.

Chemours Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders 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 yield of 8.66%. Chemours’s dividend payout ratio is presently 175.44%.

Institutional Trading of Chemours

A number of hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its stake in Chemours by 99.7% during the fourth 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 during the last quarter. UMB Bank n.a. increased its position in shares of Chemours by 73.9% during the 1st quarter. UMB Bank n.a. now owns 2,231 shares of the specialty chemicals company’s stock valued at $30,000 after purchasing an additional 948 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Chemours by 170.7% during the 1st quarter. Farther Finance Advisors LLC now owns 2,290 shares of the specialty chemicals company’s stock valued at $30,000 after buying an additional 1,444 shares in the last quarter. Quadrant Capital Group LLC lifted its position in Chemours by 100.4% in the 4th quarter. Quadrant Capital Group LLC now owns 2,234 shares of the specialty chemicals company’s stock worth $38,000 after buying an additional 1,119 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new stake in Chemours in the fourth quarter worth approximately $48,000. 76.26% of the stock is owned by institutional investors.

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.