Chemours (NYSE:CC) Sets New 52-Week Low Following Analyst Downgrade

Shares of The Chemours Company (NYSE:CC) hit a new 52-week low on Tuesday after Barclays lowered their price target on the stock from $23.00 to $19.00. Barclays currently has an equal weight rating on the stock. Chemours traded as low as $14.94 and last traded at $15.39, with a volume of 1464175 shares changing hands. The stock had previously closed at $16.15.

CC has been the topic of a number of other reports. Truist Financial initiated coverage on Chemours in a research note on Tuesday, January 28th. They set a “buy” rating and a $27.00 target price on the stock. BMO Capital Markets lowered their price objective on shares of Chemours from $34.00 to $27.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Mizuho cut their target price on shares of Chemours from $22.00 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. The Goldman Sachs Group decreased 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, January 7th. Finally, Morgan Stanley cut their price objective on Chemours from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Chemours currently has a consensus rating of “Hold” and an average target price of $23.11.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CC. Blue Trust Inc. lifted its stake in Chemours by 166.9% in the third quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company’s stock valued at $26,000 after buying an additional 731 shares during the last quarter. GAMMA Investing LLC raised its position in Chemours by 99.7% in the 4th quarter. GAMMA Investing LLC now owns 1,532 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 765 shares during the last quarter. Truvestments Capital LLC acquired a new stake in Chemours during the 3rd quarter worth $35,000. Brooklyn Investment Group acquired a new stake in Chemours during the 3rd quarter worth $37,000. Finally, Quadrant Capital Group LLC grew its position in Chemours by 100.4% during the 4th quarter. Quadrant Capital Group LLC now owns 2,234 shares of the specialty chemicals company’s stock worth $38,000 after purchasing an additional 1,119 shares during the last quarter. 76.26% of the stock is owned by hedge funds and other institutional investors.

Chemours Trading Down 5.2 %

The company has a debt-to-equity ratio of 6.70, a quick ratio of 0.92 and a current ratio of 1.68. The business’s 50-day moving average is $18.03 and its two-hundred day moving average is $18.91. The stock has a market capitalization of $2.29 billion, a PE ratio of 26.90 and a beta of 1.81.

Chemours (NYSE:CC) last released its quarterly earnings data on Tuesday, February 18th. The specialty chemicals company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. Chemours had a net margin of 1.51% and a return on equity of 26.54%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.37 billion. As a group, equities research analysts anticipate that The Chemours Company will post 2.03 earnings per share for the current year.

Chemours Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 6.53%. The ex-dividend date of this dividend is Friday, February 28th. Chemours’s payout ratio is currently 175.44%.

About Chemours

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.