Chemours (NYSE:CC) Raised to “Positive” at Susquehanna Bancshares
Susquehanna Bancshares upgraded shares of Chemours (NYSE:CC) from a neutral rating to a positive rating in a report published on Tuesday, BenzingaRatingsTable reports. The firm currently has $18.00 price target on the specialty chemicals company’s stock, down from their prior price target of $37.00.
Other research analysts have also recently issued reports about the company. Barclays reiterated a buy rating and issued a $42.00 price target on shares of Chemours in a research note on Monday, June 3rd. TheStreet cut Chemours from a b- rating to a c+ rating in a research note on Friday, August 9th. Jefferies Financial Group dropped their price target on Chemours from $48.00 to $30.00 and set a buy rating for the company in a research note on Monday, June 10th. Morgan Stanley set a $26.00 price objective on Chemours and gave the company a hold rating in a report on Wednesday, June 19th. Finally, ValuEngine downgraded Chemours from a sell rating to a strong sell rating in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $32.10.
Shares of CC opened at $13.25 on Tuesday. Chemours has a 52 week low of $11.71 and a 52 week high of $46.13. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of 2.34, a PEG ratio of 0.32 and a beta of 2.48. The company has a debt-to-equity ratio of 5.37, a quick ratio of 1.09 and a current ratio of 1.96. The stock has a fifty day moving average of $17.02 and a 200-day moving average of $28.61.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 16th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a yield of 7.55%. Chemours’s payout ratio is 17.64%.
In other Chemours news, insider E Bryan Snell purchased 12,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were acquired at an average price of $13.77 per share, with a total value of $165,240.00. Following the transaction, the insider now owns 117,774 shares in the company, valued at $1,621,747.98. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark P. Vergnano purchased 44,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was acquired at an average cost of $23.17 per share, for a total transaction of $1,019,480.00. Following the transaction, the chief executive officer now owns 116,600 shares in the company, valued at approximately $2,701,622. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 77,790 shares of company stock valued at $1,490,412. 2.34% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Cullen Frost Bankers Inc. purchased a new stake in shares of Chemours during the 1st quarter worth approximately $26,000. Investors Research Corp increased its stake in shares of Chemours by 148.1% during the 2nd quarter. Investors Research Corp now owns 1,206 shares of the specialty chemicals company’s stock worth $29,000 after purchasing an additional 720 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Chemours during the 2nd quarter worth approximately $29,000. Zions Bancorporation N.A. purchased a new stake in shares of Chemours during the 1st quarter worth approximately $30,000. Finally, Enterprise Financial Services Corp increased its stake in shares of Chemours by 306.5% during the 1st quarter. Enterprise Financial Services Corp now owns 935 shares of the specialty chemicals company’s stock worth $34,000 after purchasing an additional 705 shares during the last quarter. 76.18% of the stock is currently owned by institutional investors and hedge funds.
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, Fluoroproducts, and Chemical Solutions. The Titanium Technologies segment manufactures and sells titanium dioxide under the Ti-Pure and BaiMax brands for various applications in architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride window profiles, laminate papers used for furniture and building materials, and coated papers and paperboards used for packaging.
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