Chemours (NYSE:CC) Shares Gap Down to $28.88

The Chemours Company (NYSE:CC) gapped down before the market opened on Thursday . The stock had previously closed at $28.88, but opened at $25.00. Chemours shares last traded at $24.83, with a volume of 976,541 shares changing hands.

Analyst Ratings Changes

Several brokerages recently issued reports on CC. Royal Bank of Canada upgraded shares of Chemours from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $28.00 to $40.00 in a research report on Friday, December 1st. BMO Capital Markets lowered shares of Chemours from an “outperform” rating to an “underperform” rating and cut their target price for the company from $45.00 to $19.00 in a research report on Thursday, February 29th. Finally, UBS Group restated a “neutral” rating and set a $21.00 target price (down from $37.00) on shares of Chemours in a research report on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $28.22.

Chemours Trading Down 8.7 %

The company has a debt-to-equity ratio of 5.21, a current ratio of 1.68 and a quick ratio of 1.08. The stock’s 50-day moving average is $28.08 and its two-hundred day moving average is $28.14. The stock has a market cap of $3.91 billion, a P/E ratio of -12.23 and a beta of 1.97.

Chemours Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, February 26th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.79%. Chemours’s dividend payout ratio is -48.31%.

Institutional Investors Weigh In On Chemours

Hedge funds have recently bought and sold shares of the business. Hexagon Capital Partners LLC purchased a new stake in Chemours during the fourth quarter valued at $25,000. Legacy Financial Group LLC purchased a new stake in shares of Chemours in the third quarter valued at $29,000. Garner Asset Management Corp purchased a new stake in shares of Chemours in the fourth quarter valued at $29,000. Morton Brown Family Wealth LLC purchased a new stake in shares of Chemours in the fourth quarter valued at $35,000. Finally, Neo Ivy Capital Management purchased a new stake in shares of Chemours in the fourth quarter valued at $40,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.

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.