Chemours (NYSE:CC) Hits New 12-Month Low – What’s Next?

The Chemours Company (NYSE:CC) shares hit a new 52-week low on Tuesday . The stock traded as low as $13.09 and last traded at $13.18, with a volume of 357673 shares. The stock had previously closed at $13.45.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Mizuho dropped their price objective on shares of Chemours from $22.00 to $21.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Truist Financial began coverage on Chemours in a research report on Tuesday, January 28th. They issued a “buy” rating and a $27.00 target price for the company. Barclays reduced their price target on shares of Chemours from $23.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Monday, February 24th. Royal Bank of Canada restated an “outperform” rating and issued a $25.00 price objective on shares of Chemours in a report on Thursday, December 12th. Finally, BMO Capital Markets reduced their target price on shares of Chemours from $34.00 to $27.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $23.11.

Chemours Trading Up 0.9 %

The company has a market cap of $2.03 billion, a PE ratio of 23.80 and a beta of 2.00. The stock’s 50 day moving average is $17.44 and its 200-day moving average is $18.63. 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 released its quarterly earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.10 by $0.01. Chemours had a return on equity of 26.54% and a net margin of 1.51%. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.37 billion. As a group, sell-side analysts anticipate that The Chemours Company will post 2.03 EPS for the current year.

Chemours Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 7.37%. The ex-dividend date of this dividend is Friday, February 28th. Chemours’s dividend payout ratio (DPR) is 175.44%.

Institutional Investors Weigh In On Chemours

Several institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in Chemours by 99.7% in the fourth quarter. GAMMA Investing LLC now owns 1,532 shares of the specialty chemicals company’s stock valued at $26,000 after acquiring an additional 765 shares during the period. Truvestments Capital LLC acquired a new position in shares of Chemours in the third quarter worth about $35,000. Brooklyn Investment Group purchased a new stake in shares of Chemours during the 3rd quarter worth about $37,000. Quadrant Capital Group LLC grew its position in shares of Chemours by 100.4% during the 4th quarter. Quadrant Capital Group LLC now owns 2,234 shares of the specialty chemicals company’s stock valued at $38,000 after acquiring an additional 1,119 shares during the period. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of Chemours in the 4th quarter valued at 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.