Chemours (NYSE:CC) Sets New 12-Month Low – Time to Sell?

The Chemours Company (NYSE:CC)’s share price reached a new 52-week low during trading on Monday . The company traded as low as $9.64 and last traded at $9.81, with a volume of 236586 shares traded. The stock had previously closed at $10.62.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on CC shares. The Goldman Sachs Group lowered their price target on shares of Chemours from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Truist Financial assumed coverage on Chemours in a report on Tuesday, January 28th. They issued a “buy” rating and a $27.00 price target for the company. Morgan Stanley decreased their price objective on Chemours from $25.00 to $22.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Barclays dropped their target price on Chemours from $19.00 to $16.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 1st. Finally, BMO Capital Markets cut their price objective on Chemours from $34.00 to $27.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Chemours currently has a consensus rating of “Moderate Buy” and an average target price of $22.56.

Chemours Stock Performance

The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of 18.59 and a beta of 1.84. The company has a debt-to-equity ratio of 6.70, a quick ratio of 0.92 and a current ratio of 1.68. The stock’s fifty day moving average is $15.67 and its two-hundred day moving average is $18.01.

Chemours (NYSE:CC) last announced its earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.11 earnings per share for the quarter, beating 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 the consensus estimate of $1.37 billion. Analysts forecast that The Chemours Company will post 2.03 earnings per share for the current year.

Chemours Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.46%. The ex-dividend date of this dividend was Friday, February 28th. Chemours’s payout ratio is 175.44%.

Institutional Trading of Chemours

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Strategic Financial Concepts LLC bought a new stake in Chemours during the fourth quarter valued at $357,000. Two Sigma Advisers LP lifted its holdings in Chemours by 9.4% in the third quarter. Two Sigma Advisers LP now owns 503,100 shares of the specialty chemicals company’s stock worth $10,223,000 after acquiring an additional 43,200 shares during the last quarter. Entropy Technologies LP acquired a new position in Chemours in the fourth quarter valued at approximately $266,000. Twelve Points Wealth Management LLC grew its stake in Chemours by 42.8% during the 4th quarter. Twelve Points Wealth Management LLC now owns 78,325 shares of the specialty chemicals company’s stock worth $1,324,000 after buying an additional 23,490 shares during the last quarter. Finally, Sei Investments Co. grew its position in shares of Chemours by 779.5% during the fourth quarter. Sei Investments Co. now owns 174,555 shares of the specialty chemicals company’s stock worth $2,950,000 after acquiring an additional 154,709 shares during the last quarter. 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.