Chemours (NYSE:CC) Price Target Raised to $21.00

Chemours (NYSE:CC) had its price objective hoisted by Truist Financial from $18.00 to $21.00 in a report issued on Wednesday, MarketBeat Ratings reports. Truist Financial currently has a buy rating on the specialty chemicals company’s stock.

Other analysts also recently issued research reports about the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Chemours in a report on Wednesday, October 8th. JPMorgan Chase & Co. reduced their price objective on Chemours from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, December 3rd. UBS Group decreased their target price on Chemours from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, November 11th. Royal Bank Of Canada reiterated an “outperform” rating and set a $18.00 target price on shares of Chemours in a research note on Friday, January 16th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $20.00 price target on shares of Chemours in a research note on Monday. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Chemours has a consensus rating of “Hold” and a consensus price target of $16.67.

Chemours Stock Performance

CC opened at $15.78 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 1.71 and a debt-to-equity ratio of 13.66. Chemours has a 12-month low of $9.13 and a 12-month high of $20.07. The business has a 50 day moving average of $12.87 and a 200-day moving average of $13.79. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of -7.11 and a beta of 1.61.

Chemours (NYSE:CC) last posted its quarterly earnings results on Thursday, November 6th. The specialty chemicals company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.04). Chemours had a negative net margin of 5.70% and a positive return on equity of 35.27%. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the company posted $0.40 EPS. The firm’s revenue was down .9% on a year-over-year basis. On average, equities research analysts expect that Chemours will post 2.03 earnings per share for the current year.

Chemours Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 14th were given a dividend of $0.0875 per share. This represents a $0.35 annualized dividend and a yield of 2.2%. The ex-dividend date was Friday, November 14th. Chemours’s dividend payout ratio (DPR) is presently -15.77%.

Institutional Trading of Chemours

Institutional investors have recently made changes to their positions in the stock. State of Alaska Department of Revenue grew its holdings in shares of Chemours by 1.2% in the fourth quarter. State of Alaska Department of Revenue now owns 76,257 shares of the specialty chemicals company’s stock worth $899,000 after purchasing an additional 932 shares during the last quarter. U.S. Capital Wealth Advisors LLC purchased a new stake in Chemours during the 4th quarter valued at $138,000. Altfest L J & Co. Inc. grew its holdings in Chemours by 29.3% in the 4th quarter. Altfest L J & Co. Inc. now owns 58,317 shares of the specialty chemicals company’s stock worth $688,000 after acquiring an additional 13,229 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Chemours by 5.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 60,932 shares of the specialty chemicals company’s stock valued at $718,000 after acquiring an additional 3,270 shares during the period. Finally, SG Americas Securities LLC raised its stake in shares of Chemours by 478.4% during the fourth quarter. SG Americas Securities LLC now owns 236,236 shares of the specialty chemicals company’s stock valued at $2,785,000 after acquiring an additional 195,393 shares during the last quarter. Hedge funds and other institutional investors own 76.26% of the company’s stock.

About Chemours

Chemours Company, established in 2015 as a spin-off from E. I. du Pont de Nemours and Company, is a global chemistry organization headquartered in Wilmington, Delaware. Since its formation, Chemours has focused on delivering performance chemicals that help customers lower their carbon footprint, increase energy efficiency and conserve water. The company operates with a commitment to safety, environmental stewardship and innovation.

Chemours’ principal business activities are organized into three core segments.