Chemours (NYSE:CC) Trading 8.9% Higher – Here’s Why

The Chemours Company (NYSE:CC) was up 8.9% during trading on Tuesday . The company traded as high as $18.63 and last traded at $18.44. Approximately 313,561 shares were traded during trading, a decline of 71% from the average daily volume of 1,070,995 shares. The stock had previously closed at $16.93.

Analyst Ratings Changes

Several brokerages have weighed in on CC. Morgan Stanley cut their price target on Chemours from $30.00 to $25.00 and set an “equal weight” rating for the company in a report on Tuesday, November 5th. Barclays raised their price target on Chemours from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. The Goldman Sachs Group dropped their price target on shares of Chemours from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday. Royal Bank of Canada restated an “outperform” rating and set a $25.00 price objective on shares of Chemours in a report on Thursday, December 12th. Finally, Mizuho reduced their target price on Chemours from $22.00 to $21.00 and set a “neutral” rating on the stock in a report on Tuesday. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $24.13.

Chemours Trading Up 9.8 %

The firm has a market cap of $2.78 billion, a price-to-earnings ratio of 37.18 and a beta of 1.83. The business has a 50 day moving average price of $19.28 and a 200-day moving average price of $20.00. The company has a quick ratio of 0.92, a current ratio of 1.73 and a debt-to-equity ratio of 6.05.

Chemours (NYSE:CC) last released its quarterly earnings results on Monday, November 4th. The specialty chemicals company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.32 by $0.08. Chemours had a return on equity of 29.48% and a net margin of 1.34%. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the previous year, the firm posted $0.64 earnings per share. The company’s revenue was up .9% compared to the same quarter last year. As a group, research analysts expect that The Chemours Company will post 1.35 EPS for the current fiscal year.

Chemours Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 15th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 5.38%. The ex-dividend date was Friday, November 15th. Chemours’s dividend payout ratio is currently 200.00%.

Insider Transactions at Chemours

In other news, SVP Alvenia Scarborough sold 7,500 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $20.64, for a total value of $154,800.00. Following the transaction, the senior vice president now directly owns 16,645 shares in the company, valued at approximately $343,552.80. This trade represents a 31.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On Chemours

Several institutional investors and hedge funds have recently bought and sold shares of CC. Appian Way Asset Management LP acquired a new stake in shares of Chemours in the 3rd quarter worth about $34,151,000. Vision One Management Partners LP acquired a new stake in shares of Chemours in the third quarter valued at approximately $28,252,000. Marshall Wace LLP raised its holdings in shares of Chemours by 23.8% during the second quarter. Marshall Wace LLP now owns 7,009,868 shares of the specialty chemicals company’s stock valued at $158,213,000 after buying an additional 1,347,710 shares during the last quarter. Khrom Capital Management LLC grew its stake in shares of Chemours by 54.6% in the second quarter. Khrom Capital Management LLC now owns 3,456,626 shares of the specialty chemicals company’s stock worth $78,016,000 after purchasing an additional 1,220,967 shares in the last quarter. Finally, Scopia Capital Management LP bought a new stake in shares of Chemours during the third quarter valued at about $13,623,000. Institutional investors and hedge funds own 76.26% of the company’s stock.

Chemours Company Profile

The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. It operates through three segments: Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure brand for delivering whiteness, brightness, opacity, durability, efficiency, and protection in various of applications, such as architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride, laminate papers used for furniture and building materials, coated paper, and coated paperboard used for packaging.