Chemours (NYSE:CC) Price Target Raised to $15.00

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Chemours (NYSE:CC) had its target price hoisted by UBS Group from $12.00 to $15.00 in a research report sent to investors on Thursday morning, BenzingaRatingsTable reports. The firm currently has a neutral rating on the specialty chemicals company’s stock.

A number of other brokerages have also recently commented on CC. BMO Capital Markets dropped their price target on Chemours from $33.00 to $21.00 and set an outperform rating on the stock in a research report on Thursday, March 26th. Morgan Stanley dropped their price target on Chemours from $15.00 to $12.00 and set an equal weight rating on the stock in a research report on Monday, March 30th. Cfra dropped their price target on Chemours from $21.00 to $11.00 and set a hold rating on the stock in a research report on Friday, April 3rd. Jefferies Financial Group cut Chemours from a buy rating to a hold rating in a research report on Monday, March 23rd. Finally, ValuEngine raised Chemours from a sell rating to a hold rating in a research report on Thursday, July 2nd. Eleven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $14.30.

CC stock opened at $15.81 on Thursday. Chemours has a fifty-two week low of $7.02 and a fifty-two week high of $20.73. The business’s 50 day moving average price is $14.99 and its two-hundred day moving average price is $13.97. The company has a debt-to-equity ratio of 6.42, a quick ratio of 1.10 and a current ratio of 1.93. The company has a market capitalization of $2.60 billion, a price-to-earnings ratio of 6.13 and a beta of 2.44.

Chemours (NYSE:CC) last posted its earnings results on Tuesday, May 5th. The specialty chemicals company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.25. Chemours had a positive return on equity of 56.54% and a negative net margin of 0.82%. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the business earned $0.63 EPS. The business’s revenue for the quarter was down 5.2% on a year-over-year basis. Sell-side analysts forecast that Chemours will post 1.47 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 15th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.00 annualized dividend and a yield of 6.33%. Chemours’s dividend payout ratio (DPR) is presently 39.84%.

In other Chemours news, COO Mark Newman acquired 2,500 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were acquired at an average cost of $11.62 per share, with a total value of $29,050.00. Following the transaction, the chief operating officer now owns 132,344 shares of the company’s stock, valued at approximately $1,537,837.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.72% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CC. First Trust Advisors LP lifted its holdings in shares of Chemours by 40.1% during the 1st quarter. First Trust Advisors LP now owns 117,670 shares of the specialty chemicals company’s stock valued at $4,373,000 after buying an additional 33,696 shares during the period. Bank of Montreal Can lifted its holdings in shares of Chemours by 19.1% during the 4th quarter. Bank of Montreal Can now owns 72,865 shares of the specialty chemicals company’s stock valued at $1,318,000 after buying an additional 11,689 shares during the period. Prudential Financial Inc. increased its stake in shares of Chemours by 8.2% in the 4th quarter. Prudential Financial Inc. now owns 108,355 shares of the specialty chemicals company’s stock worth $1,960,000 after purchasing an additional 8,230 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Chemours by 36.8% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 20,527 shares of the specialty chemicals company’s stock worth $371,000 after purchasing an additional 5,519 shares in the last quarter. Finally, Raymond James & Associates increased its stake in shares of Chemours by 15.2% in the 4th quarter. Raymond James & Associates now owns 17,730 shares of the specialty chemicals company’s stock worth $321,000 after purchasing an additional 2,341 shares in the last quarter. 80.10% of the stock is currently owned by hedge funds and other institutional investors.

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, Fluoroproducts, and Chemical Solutions. The Titanium Technologies segment manufactures and sells titanium dioxide under the Ti-Pure and BaiMax brands for various applications in architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride window profiles, laminate papers used for furniture and building materials, and coated papers and paperboards used for packaging.

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