Chemours (NYSE:CC) Reaches New 52-Week High – What’s Next?

The Chemours Company (NYSE:CC)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $24.40 and last traded at $23.7990, with a volume of 242481 shares changing hands. The stock had previously closed at $23.72.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CC shares. Morgan Stanley raised their price target on shares of Chemours from $15.00 to $17.00 and gave the stock an “equal weight” rating in a report on Monday, February 23rd. Jefferies Financial Group reissued a “hold” rating and set a $17.00 price objective on shares of Chemours in a research report on Monday, February 23rd. UBS Group boosted their price target on Chemours from $23.00 to $29.00 and gave the stock a “buy” rating in a research report on Thursday, April 9th. Truist Financial boosted their price objective on shares of Chemours from $21.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, April 9th. Finally, Mizuho raised their price target on shares of Chemours from $17.00 to $21.00 and gave the company an “outperform” rating in a report on Thursday, March 5th. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $20.40.

Chemours Stock Up 0.7%

The company has a debt-to-equity ratio of 16.33, a current ratio of 1.78 and a quick ratio of 0.85. The firm has a market capitalization of $3.63 billion, a PE ratio of -9.76 and a beta of 1.41. The company has a 50-day moving average price of $20.16 and a 200 day moving average price of $15.93.

Chemours (NYSE:CC) last released its quarterly earnings data on Thursday, February 19th. The specialty chemicals company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.04. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Chemours had a negative net margin of 6.41% and a positive return on equity of 41.75%. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.09 earnings per share. Analysts forecast that The Chemours Company will post 1.35 earnings per share for the current year.

Chemours Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were paid a $0.0875 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a $0.35 dividend on an annualized basis and a yield of 1.4%. Chemours’s payout ratio is presently -14.11%.

Institutional Trading of Chemours

A number of large investors have recently made changes to their positions in CC. Y Intercept Hong Kong Ltd purchased a new stake in Chemours during the 3rd quarter valued at $2,124,000. WINTON GROUP Ltd boosted its position in Chemours by 103.5% in the 3rd quarter. WINTON GROUP Ltd now owns 114,100 shares of the specialty chemicals company’s stock valued at $1,807,000 after buying an additional 58,039 shares during the period. Hudson Bay Capital Management LP bought a new position in Chemours in the third quarter worth approximately $1,925,000. SG Americas Securities LLC grew its position in shares of Chemours by 478.4% during the 4th quarter. SG Americas Securities LLC now owns 236,236 shares of the specialty chemicals company’s stock worth $2,785,000 after buying an additional 195,393 shares in the last quarter. Finally, Wolf Hill Capital Management LP bought a new position in shares of Chemours during the third quarter valued at approximately $17,025,000. 76.26% of the stock is currently owned by institutional investors.

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.