Chemours (CC) Shares Down 5.7%

Chemours Co (NYSE:CC) shares dropped 5.7% on Thursday . The stock traded as low as $32.70 and last traded at $32.90. Approximately 1,961,091 shares traded hands during mid-day trading, an increase of 15% from the average daily volume of 1,700,303 shares. The stock had previously closed at $34.88.

CC has been the topic of several research analyst reports. Barclays restated a “buy” rating and issued a $62.00 price objective on shares of Chemours in a research report on Tuesday, August 7th. Citigroup decreased their price objective on shares of Chemours from $61.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, October 11th. Morgan Stanley decreased their price objective on shares of Chemours from $48.00 to $47.00 and set a “hold” rating on the stock in a research report on Tuesday, September 25th. SunTrust Banks initiated coverage on shares of Chemours in a research report on Tuesday, July 31st. They issued a “hold” rating and a $51.00 price objective on the stock. Finally, Royal Bank of Canada initiated coverage on shares of Chemours in a research report on Wednesday, July 18th. They issued an “outperform” rating and a $60.00 price objective on the stock. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $52.60.

The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.39 and a current ratio of 2.03. The stock has a market cap of $5.81 billion, a P/E ratio of 8.61, a P/E/G ratio of 0.38 and a beta of 2.74.

Chemours (NYSE:CC) last issued its quarterly earnings results on Thursday, November 1st. The specialty chemicals company reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.07. Chemours had a net margin of 16.02% and a return on equity of 106.98%. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same period last year, the business earned $1.12 earnings per share. The business’s quarterly revenue was up 2.8% on a year-over-year basis. Equities analysts expect that Chemours Co will post 5.69 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 16th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend is Thursday, November 15th. Chemours’s payout ratio is currently 26.18%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Campbell & CO Investment Adviser LLC grew its position in Chemours by 28.1% during the third quarter. Campbell & CO Investment Adviser LLC now owns 7,300 shares of the specialty chemicals company’s stock valued at $288,000 after acquiring an additional 1,600 shares during the last quarter. Piedmont Investment Advisors Inc. bought a new position in shares of Chemours in the third quarter worth approximately $508,000. Twin Capital Management Inc. bought a new position in shares of Chemours in the third quarter worth approximately $657,000. Nomura Asset Management Co. Ltd. grew its holdings in shares of Chemours by 12.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 26,110 shares of the specialty chemicals company’s stock worth $1,030,000 after purchasing an additional 2,800 shares during the last quarter. Finally, Toronto Dominion Bank grew its holdings in shares of Chemours by 281.0% in the third quarter. Toronto Dominion Bank now owns 72,320 shares of the specialty chemicals company’s stock worth $2,852,000 after purchasing an additional 53,336 shares during the last quarter. Institutional investors and hedge funds own 76.33% of the company’s stock.

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Chemours Company Profile (NYSE:CC)

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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