Chemours (NYSE:CC) Shares Down 5.4% – What’s Next?

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

Wall Street Analyst Weigh In

CC has been the topic of a number of analyst reports. The Goldman Sachs Group decreased their price objective on shares of Chemours from $24.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Morgan Stanley reduced their price target on shares of Chemours from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Mizuho reduced their price target on shares of Chemours from $22.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $25.00 price target on shares of Chemours in a research report on Thursday, December 12th. Finally, Truist Financial started coverage on shares of Chemours in a research report on Tuesday, January 28th. They set a “buy” rating and a $27.00 price target on the stock. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $23.11.

Chemours Trading Down 3.6 %

The firm has a market cap of $2.11 billion, a PE ratio of 24.80 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. The stock’s fifty day simple moving average is $16.89 and its two-hundred day simple moving average is $18.33.

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 business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Chemours had a net margin of 1.51% and a return on equity of 26.54%. On average, sell-side analysts forecast that The Chemours Company will post 2.03 EPS for the current fiscal year.

Chemours Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.00 annualized dividend and a dividend yield of 7.07%. Chemours’s dividend payout ratio is presently 175.44%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CC. Victory Capital Management Inc. lifted its stake in shares of Chemours by 206.2% in the third quarter. Victory Capital Management Inc. now owns 103,259 shares of the specialty chemicals company’s stock worth $2,098,000 after buying an additional 69,531 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Chemours in the third quarter worth approximately $285,000. KBC Group NV lifted its stake in shares of Chemours by 19.5% in the third quarter. KBC Group NV now owns 4,468 shares of the specialty chemicals company’s stock worth $91,000 after buying an additional 728 shares in the last quarter. Quest Partners LLC lifted its stake in shares of Chemours by 7,206.4% in the third quarter. Quest Partners LLC now owns 7,964 shares of the specialty chemicals company’s stock worth $162,000 after buying an additional 7,855 shares in the last quarter. Finally, Advisors Asset Management Inc. bought a new position in shares of Chemours in the third quarter worth approximately $1,939,000. Institutional investors own 76.26% of the company’s stock.

Chemours Company Profile

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.