StockNews.com Lowers Chemours (NYSE:CC) to Buy

StockNews.com cut shares of Chemours (NYSE:CCGet Rating) from a strong-buy rating to a buy rating in a research report released on Tuesday.

A number of other brokerages have also recently commented on CC. Bank of America cut Chemours from a buy rating to a neutral rating and lowered their target price for the company from $48.00 to $44.00 in a report on Tuesday, June 14th. Barclays increased their target price on Chemours from $37.00 to $46.00 in a report on Monday, May 9th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $40.83.

NYSE CC opened at $29.39 on Tuesday. Chemours has a 1-year low of $22.56 and a 1-year high of $44.95. The company has a market capitalization of $4.57 billion, a P/E ratio of 6.55, a PEG ratio of 0.45 and a beta of 1.79. The business has a 50 day moving average price of $38.12 and a 200 day moving average price of $33.90. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.91 and a quick ratio of 1.25.

Chemours (NYSE:CCGet Rating) last released its quarterly earnings data on Monday, May 2nd. The specialty chemicals company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.54. Chemours had a return on equity of 76.47% and a net margin of 11.19%. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period last year, the business posted $0.71 EPS. On average, research analysts expect that Chemours will post 5.22 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Monday, May 16th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend was Friday, May 13th. Chemours’s dividend payout ratio (DPR) is 22.27%.

In related news, insider Alisha Bellezza sold 14,365 shares of Chemours stock in a transaction on Thursday, May 5th. The stock was sold at an average price of $40.48, for a total value of $581,495.20. Following the transaction, the insider now owns 38,797 shares in the company, valued at $1,570,502.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark Newman sold 197,161 shares of Chemours stock in a transaction on Thursday, May 5th. The shares were sold at an average price of $40.22, for a total value of $7,929,815.42. Following the completion of the transaction, the chief executive officer now owns 176,347 shares in the company, valued at approximately $7,092,676.34. The disclosure for this sale can be found here. Insiders have sold 296,280 shares of company stock worth $11,989,133 in the last 90 days. Insiders own 3.04% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in CC. BlackRock Inc. raised its position in Chemours by 29.0% in the first quarter. BlackRock Inc. now owns 18,075,740 shares of the specialty chemicals company’s stock valued at $569,023,000 after purchasing an additional 4,060,250 shares during the period. Millennium Management LLC raised its position in Chemours by 315.7% in the fourth quarter. Millennium Management LLC now owns 2,287,108 shares of the specialty chemicals company’s stock valued at $76,755,000 after purchasing an additional 1,736,888 shares during the period. First Trust Advisors LP raised its position in Chemours by 214.1% in the first quarter. First Trust Advisors LP now owns 1,314,288 shares of the specialty chemicals company’s stock valued at $41,374,000 after purchasing an additional 895,847 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in shares of Chemours during the first quarter worth about $19,175,000. Finally, Geode Capital Management LLC increased its position in shares of Chemours by 26.8% during the fourth quarter. Geode Capital Management LLC now owns 2,781,603 shares of the specialty chemicals company’s stock worth $93,350,000 after acquiring an additional 588,765 shares during the last quarter. 76.38% of the stock is currently owned by institutional investors.

Chemours Company Profile (Get Rating)

The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. It operates through four segments: Titanium Technologies, Thermal & Specialized Solutions, Advanced Performance Materials, and Chemical Solutions. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure and BaiMax brands for delivering whiteness, brightness, opacity, 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.

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Analyst Recommendations for Chemours (NYSE:CC)

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