Chemours Co. (CC) Price Target Raised to $25.00
Chemours Co. (NYSE:CC) had its price target boosted by equities researchers at Jefferies Group to $25.00 in a research report issued to clients and investors on Wednesday. Jefferies Group’s price objective would indicate a potential upside of 13.53% from the stock’s current price.
A number of other equities analysts have also commented on the stock. Zacks Investment Research lowered shares of Chemours from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 1st. TheStreet raised shares of Chemours from a “sell” rating to a “hold” rating in a research report on Tuesday, August 9th. Argus raised shares of Chemours from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research report on Wednesday, August 10th. They noted that the move was a valuation call. Finally, Citigroup Inc. dropped their price target on shares of Chemours from $11.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, August 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $14.79.
Chemours (NYSE:CC) opened at 22.02 on Wednesday. The firm’s 50-day moving average is $16.57 and its 200-day moving average is $11.85. Chemours has a 1-year low of $3.06 and a 1-year high of $22.23. The company has a market capitalization of $4.00 billion, a P/E ratio of 26.66 and a beta of 3.09.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, November 17th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date is Tuesday, November 15th. Chemours’s dividend payout ratio (DPR) is currently 14.81%.
A number of institutional investors have recently made changes to their positions in the company. BlackRock Fund Advisors raised its position in shares of Chemours by 49.1% in the second quarter. BlackRock Fund Advisors now owns 12,182,136 shares of the company’s stock worth $100,381,000 after buying an additional 4,011,643 shares during the period. Victory Capital Management Inc. acquired a new stake in Chemours during the second quarter worth $14,610,000. Vanguard Group Inc. increased its stake in Chemours by 11.9% in the second quarter. Vanguard Group Inc. now owns 15,430,215 shares of the company’s stock worth $127,146,000 after buying an additional 1,643,003 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its stake in Chemours by 231.4% in the second quarter. Adage Capital Partners GP L.L.C. now owns 2,150,000 shares of the company’s stock worth $17,716,000 after buying an additional 1,501,256 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in Chemours by 333.4% in the second quarter. AQR Capital Management LLC now owns 1,453,937 shares of the company’s stock worth $11,980,000 after buying an additional 1,118,458 shares in the last quarter. 76.65% of the stock is currently owned by institutional investors and hedge funds.
The Chemours Company is a provider of performance chemicals. The Company operates through three segments: Titanium Technologies, Fluoroproducts and Chemical Solutions. The Company’s Titanium Technologies segment manufactures titanium dioxide (TiO2), which is a pigment used to deliver whiteness, opacity, brightness and protection from sunlight in applications, such as architectural and industrial coatings, plastic packaging, polyvinyl chloride (PVC) window profiles, laminate papers, coated paper and coated paperboard used for packaging.
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