Chemours (NYSE:CC) Hits New 12-Month High – Still a Buy?

The Chemours Company (NYSE:CC)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $23.20 and last traded at $23.0650, with a volume of 1900304 shares trading hands. The stock had previously closed at $22.71.

Analyst Ratings Changes

Several brokerages recently issued reports on CC. 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. Morgan Stanley upped their target price on Chemours from $15.00 to $17.00 and gave the company an “equal weight” rating in a research report on Monday, February 23rd. UBS Group upped their target price on Chemours from $23.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, April 9th. JPMorgan Chase & Co. upped their target price on Chemours from $13.00 to $17.00 and gave the company a “neutral” rating in a research report on Monday, February 23rd. Finally, Royal Bank Of Canada set a $26.00 price target on Chemours and gave the company an “outperform” rating in a research note on Friday, April 10th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $20.40.

Chemours Trading Up 0.5%

The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.85 and a current ratio of 1.78. The company has a 50 day simple moving average of $19.62 and a two-hundred day simple moving average of $15.60. The firm has a market cap of $3.45 billion, a PE ratio of -9.28 and a beta of 1.41.

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

Chemours Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were paid a dividend of $0.0875 per share. This represents a $0.35 annualized dividend and a yield of 1.5%. The ex-dividend date was Friday, February 27th. Chemours’s payout ratio is presently -14.11%.

Institutional Trading of Chemours

Several hedge funds and other institutional investors have recently bought and sold shares of CC. Atlas Capital Advisors Inc. acquired a new position in Chemours in the fourth quarter valued at approximately $26,000. Aster Capital Management DIFC Ltd acquired a new position in Chemours in the fourth quarter valued at approximately $28,000. Covestor Ltd lifted its holdings in Chemours by 204.7% in the fourth quarter. Covestor Ltd now owns 2,602 shares of the specialty chemicals company’s stock valued at $31,000 after acquiring an additional 1,748 shares during the period. Eurizon Capital SGR S.p.A. acquired a new position in Chemours in the fourth quarter valued at approximately $31,000. Finally, Rothschild Investment LLC lifted its holdings in Chemours by 87.0% in 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 during the period. 76.26% of the stock is owned by institutional investors and hedge funds.

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.