Shares of The Chemours Company (NYSE:CC – Get Free Report) were down 7.4% during trading on Monday . The company traded as low as $14.64 and last traded at $14.5850. 2,927,428 shares changed hands during mid-day trading, a decline of 5% from the average session volume of 3,086,154 shares. The stock had previously closed at $15.75.
Analysts Set New Price Targets
A number of research analysts have issued reports on CC shares. Zacks Research upgraded shares of Chemours from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 21st. Mizuho set a $22.00 price target on shares of Chemours in a research report on Wednesday, August 5th. Royal Bank Of Canada lowered their price target on shares of Chemours from $26.00 to $22.00 and set an “outperform” rating for the company in a research report on Thursday, August 6th. Morgan Stanley set a $18.00 price target on shares of Chemours in a research note on Monday. Finally, Alembic Global Advisors restated an “overweight” rating and issued a $30.00 price objective on shares of Chemours in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Chemours presently has a consensus rating of “Moderate Buy” and an average target price of $21.00.
Check Out Our Latest Stock Report on CC
Chemours Price Performance
Chemours (NYSE:CC – Get Free Report) last posted its earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the company posted ($2.54) earnings per share. Chemours’s revenue for the quarter was down 1.5% compared to the same quarter last year. Equities analysts anticipate that The Chemours Company will post 0.91 earnings per share for the current year.
Chemours Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be given a dividend of $0.0875 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.35 annualized dividend and a dividend yield of 2.3%. Chemours’s dividend payout ratio is currently -18.32%.
Insider Activity at Chemours
In related news, CFO Shane Hostetter acquired 3,350 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The shares were acquired at an average cost of $14.94 per share, for a total transaction of $50,049.00. Following the completion of the acquisition, the chief financial officer directly owned 102,698 shares in the company, valued at approximately $1,534,308.12. The trade was a 3.37% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.85% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Chemours
Large investors have recently added to or reduced their stakes in the company. Landscape Capital Management L.L.C. acquired a new stake in shares of Chemours in the 2nd quarter valued at about $860,000. Allworth Financial LP acquired a new position in shares of Chemours during the second quarter worth about $51,000. Avaii Wealth Management LLC bought a new position in shares of Chemours during the second quarter worth about $6,139,000. BlackRock Inc. bought a new position in shares of Chemours during the second quarter worth about $477,769,000. Finally, Deutsche Bank AG bought a new position in shares of Chemours during the second quarter worth about $3,291,000. 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.
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