Chemours (NYSE:CC) Stock Price Down 5.4% – Here’s What Happened

The Chemours Company (NYSE:CC) fell 5.4% on Friday . The stock traded as low as $13.83 and last traded at $13.87. 646,632 shares changed hands during trading, a decline of 59% from the average session volume of 1,579,187 shares. The stock had previously closed at $14.67.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CC shares. BMO Capital Markets cut their price target on Chemours from $34.00 to $27.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Barclays cut their price target on Chemours from $23.00 to $19.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. Mizuho lowered their price objective on Chemours from $22.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. The Goldman Sachs Group lowered their price target on Chemours from $24.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Finally, Truist Financial started coverage on Chemours in a research note on Tuesday, January 28th. They set a “buy” rating and a $27.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Chemours has a consensus rating of “Hold” and a consensus target price of $23.11.

Chemours Stock Down 5.5 %

The company’s fifty day moving average price is $16.96 and its 200-day moving average price is $18.36. The stock has a market capitalization of $2.07 billion, a PE ratio of 24.33 and a beta of 2.00. The company has a quick ratio of 0.92, a current ratio of 1.68 and a debt-to-equity ratio of 6.70.

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

Chemours Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.21%. The ex-dividend date of this dividend was Friday, February 28th. Chemours’s payout ratio is 175.44%.

Institutional Investors Weigh In On Chemours

A number of hedge funds have recently modified their holdings of the business. GAMMA Investing LLC lifted its stake in Chemours by 99.7% in the 4th quarter. GAMMA Investing LLC now owns 1,532 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 765 shares in the last quarter. Truvestments Capital LLC purchased a new position in Chemours in the third quarter worth about $35,000. Brooklyn Investment Group purchased a new position in Chemours in the third quarter worth about $37,000. Quadrant Capital Group LLC grew its position in Chemours by 100.4% in the fourth quarter. Quadrant Capital Group LLC now owns 2,234 shares of the specialty chemicals company’s stock worth $38,000 after acquiring an additional 1,119 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new position in Chemours in the fourth quarter worth about $48,000. Institutional investors own 76.26% of the company’s stock.

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.