Chemours (NYSE:CC) Stock Price Up 11.4% – Here’s Why

Shares of The Chemours Company (NYSE:CC) rose 11.4% during mid-day trading on Tuesday . The company traded as high as $19.18 and last traded at $19.6450. Approximately 1,377,782 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 3,491,325 shares. The stock had previously closed at $17.64.

Wall Street Analyst Weigh In

Several equities analysts have commented on CC shares. Truist Financial lifted their target price on shares of Chemours from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, January 21st. BMO Capital Markets decreased their price target on Chemours from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Monday, February 23rd. UBS Group lifted their price target on Chemours from $18.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. Royal Bank Of Canada restated an “outperform” rating and issued a $18.00 price objective on shares of Chemours in a research note on Friday, January 16th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $17.00 target price on shares of Chemours in a research report on Monday, February 23rd. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $18.40.

Chemours Price Performance

The company has a current ratio of 1.78, a quick ratio of 0.85 and a debt-to-equity ratio of 16.33. The stock has a market cap of $2.87 billion, a PE ratio of -7.71 and a beta of 1.60. The business has a 50-day moving average price of $17.05 and a 200 day moving average price of $14.85.

Chemours (NYSE:CC) last announced its quarterly earnings data on Thursday, February 19th. The specialty chemicals company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Chemours had a positive return on equity of 41.75% and a negative net margin of 6.41%.The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.09 EPS. As a group, research analysts forecast that The Chemours Company will post 2.03 earnings per share for the current fiscal year.

Chemours Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were paid a dividend of $0.0875 per share. This represents a $0.35 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Friday, February 27th. Chemours’s dividend payout ratio is presently -14.11%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Atlas Capital Advisors Inc. bought a new stake in Chemours during the 4th quarter valued at $26,000. MTM Investment Management LLC bought a new position in shares of Chemours in the second quarter worth $27,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Chemours in the fourth quarter valued at $28,000. Covestor Ltd raised its stake in shares of Chemours by 204.7% during the 4th quarter. Covestor Ltd now owns 2,602 shares of the specialty chemicals company’s stock valued at $31,000 after purchasing an additional 1,748 shares during the period. Finally, Eurizon Capital SGR S.p.A. bought a new stake in shares of Chemours during the 4th quarter valued at $31,000. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Chemours Company Profile

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.