Investors bought shares of Chemours Co (NYSE:CC) on weakness during trading on Friday. $25.99 million flowed into the stock on the tick-up and $10.60 million flowed out of the stock on the tick-down, for a money net flow of $15.39 million into the stock. Of all stocks tracked, Chemours had the 24th highest net in-flow for the day. Chemours traded down ($0.70) for the day and closed at $50.06
CC has been the topic of several recent analyst reports. Jefferies Group increased their price objective on shares of Chemours to $66.00 and gave the company a “buy” rating in a report on Monday, December 4th. Zacks Investment Research raised shares of Chemours from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a report on Thursday, November 9th. UBS Group increased their price objective on shares of Chemours from $50.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. Goldman Sachs Group downgraded shares of Chemours from a “buy” rating to a “neutral” rating and set a $55.00 price objective on the stock. in a report on Wednesday, December 6th. Finally, Barclays increased their price objective on shares of Chemours from $55.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, November 6th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $57.89.
The company has a market capitalization of $9,235.94, a PE ratio of 34.52, a P/E/G ratio of 0.88 and a beta of 3.38. The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.63 and a current ratio of 2.19.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, February 15th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.36%. This is a boost from Chemours’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Wednesday, February 14th. Chemours’s dividend payout ratio is 8.28%.
Chemours announced that its Board of Directors has approved a share buyback plan on Friday, December 1st that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the specialty chemicals company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
In related news, insider Christian W. Siemer sold 15,088 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $47.37, for a total transaction of $714,718.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP David C. Shelton sold 19,000 shares of the firm’s stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $53.68, for a total transaction of $1,019,920.00. The disclosure for this sale can be found here. Insiders sold 65,271 shares of company stock valued at $3,434,884 over the last quarter. Company insiders own 1.14% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. FMR LLC increased its position in Chemours by 6.1% during the second quarter. FMR LLC now owns 15,830,411 shares of the specialty chemicals company’s stock worth $600,289,000 after purchasing an additional 905,038 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Chemours by 10.3% during the second quarter. Renaissance Technologies LLC now owns 3,342,200 shares of the specialty chemicals company’s stock worth $126,736,000 after buying an additional 310,800 shares during the period. Bank of New York Mellon Corp boosted its stake in Chemours by 7.9% during the third quarter. Bank of New York Mellon Corp now owns 2,371,909 shares of the specialty chemicals company’s stock worth $120,042,000 after buying an additional 173,523 shares during the period. JPMorgan Chase & Co. boosted its stake in Chemours by 11.9% during the third quarter. JPMorgan Chase & Co. now owns 2,201,287 shares of the specialty chemicals company’s stock worth $110,969,000 after buying an additional 234,705 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its stake in Chemours by 126.5% during the second quarter. TIAA CREF Investment Management LLC now owns 1,789,112 shares of the specialty chemicals company’s stock worth $67,843,000 after buying an additional 999,380 shares during the period. Hedge funds and other institutional investors own 74.34% of the company’s stock.
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Chemours Company Profile
The Chemours Company is a provider of performance chemicals. The Company operates through three segments: Titanium Technologies, Fluoroproducts and Chemical Solutions. The Titanium Technologies segment is a producer of titanium dioxide (TiO2). The Fluoroproducts segment is a provider of fluoroproducts, including refrigerants and industrial fluoropolymer resins.
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