The Chemours Company (NYSE:CC) Receives Average Recommendation of “Hold” from Analysts

Shares of The Chemours Company (NYSE:CC) have been given a consensus recommendation of “Hold” by the twelve ratings firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $20.10.

Several brokerages recently issued reports on CC. JPMorgan Chase & Co. reduced their price objective on Chemours from $22.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, August 13th. BMO Capital Markets dropped their target price on Chemours from $26.00 to $18.00 and set an “outperform” rating on the stock in a report on Thursday, August 13th. Weiss Ratings lowered shares of Chemours from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, August 6th. The Goldman Sachs Group restated a “neutral” rating and set a $17.00 price target on shares of Chemours in a report on Thursday, August 13th. Finally, Zacks Research raised shares of Chemours from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 10th.

Chemours Price Performance

Shares of NYSE:CC opened at $14.60 on Tuesday. The company’s fifty day moving average is $16.32 and its two-hundred day moving average is $19.62. The company has a quick ratio of 0.88, a current ratio of 1.66 and a debt-to-equity ratio of 18.98. Chemours has a 12-month low of $10.44 and a 12-month high of $28.67. The company has a market cap of $2.20 billion, a P/E ratio of -7.64 and a beta of 1.42.

Chemours (NYSE:CC) last issued its earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.07). Chemours had a positive return on equity of 60.64% and a negative net margin of 5.00%.The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period last year, the business earned ($2.54) EPS. The business’s quarterly revenue was down 1.5% on a year-over-year basis. Equities analysts expect that Chemours will post 0.87 earnings per share for the current fiscal year.

Chemours Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.0875 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 2.4%. Chemours’s dividend payout ratio (DPR) is -18.32%.

Insider Activity

In related news, insider Calderon Gerardo Familiar purchased 1,935 shares of the stock in a transaction dated Wednesday, August 12th. The shares were acquired at an average cost of $15.53 per share, for a total transaction of $30,050.55. Following the acquisition, the insider directly owned 58,547 shares in the company, valued at approximately $909,234.91. The trade was a 3.42% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Shane Hostetter purchased 3,350 shares of the company’s stock in a transaction dated Thursday, August 6th. The stock was bought at an average cost of $14.94 per share, for a total transaction of $50,049.00. Following the completion of the purchase, the chief financial officer directly owned 102,698 shares of the company’s stock, valued at $1,534,308.12. The trade was a 3.37% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 8,663 shares of company stock worth $130,601 in the last ninety days. Corporate insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Chemours

Hedge funds and other institutional investors have recently made changes to their positions in the company. Covestor Ltd lifted its holdings 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 buying an additional 1,748 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in Chemours in the fourth quarter worth approximately $31,000. Rothschild Investment LLC raised its position in Chemours by 87.0% during the fourth quarter. Rothschild Investment LLC now owns 2,698 shares of the specialty chemicals company’s stock valued at $32,000 after acquiring an additional 1,255 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in Chemours during the second quarter valued at approximately $34,000. Finally, Allworth Financial LP acquired a new stake in Chemours in the second quarter valued at approximately $51,000. 76.26% of the stock is owned by hedge funds and other institutional investors.

About Chemours

The Chemours Company (NYSE: CC) is a global chemistry company headquartered in Wilmington, Delaware. Formed in 2015 through a spin-off from DuPont, Chemours develops and manufactures chemical products used in industries including transportation, electronics, energy, construction, and consumer goods.

The company operates through businesses focused on thermal and specialized solutions, titanium technologies, and advanced performance materials. Its products include refrigerants and heat-transfer fluids, titanium dioxide pigments used to provide whiteness and opacity in coatings, plastics, and paper, as well as fluoropolymers, specialty fluids, and other performance materials used in demanding industrial applications.

Chemours serves customers in North America, Latin America, Europe, the Asia-Pacific region, and other international markets through manufacturing facilities, research and development operations, and commercial activities around the world.