Chemours (NYSE:CC) Given New $30.00 Price Target at Jefferies Financial Group

Chemours (NYSE:CC) had its price objective reduced by Jefferies Financial Group from $48.00 to $30.00 in a report released on Monday morning, The Fly reports. They currently have a buy rating on the specialty chemicals company’s stock.

CC has been the topic of a number of other research reports. ValuEngine upgraded Chemours from a strong sell rating to a sell rating in a report on Wednesday, February 20th. Citigroup reiterated a buy rating and issued a $43.00 target price on shares of Chemours in a report on Wednesday, February 20th. Zacks Investment Research upgraded Chemours from a sell rating to a hold rating in a report on Monday, March 18th. Barclays reiterated a buy rating and issued a $42.00 target price on shares of Chemours in a report on Monday, June 3rd. Finally, SunTrust Banks upgraded Chemours from a hold rating to a buy rating and lifted their target price for the company from $40.00 to $52.00 in a report on Monday, April 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $43.80.

Shares of NYSE:CC opened at $23.58 on Monday. The firm has a market capitalization of $3.97 billion, a PE ratio of 4.16, a price-to-earnings-growth ratio of 0.35 and a beta of 2.56. The company has a quick ratio of 1.04, a current ratio of 1.81 and a debt-to-equity ratio of 5.18. Chemours has a 52 week low of $21.06 and a 52 week high of $50.41.

Chemours (NYSE:CC) last announced its quarterly earnings data on Thursday, May 2nd. The specialty chemicals company reported $0.63 EPS for the quarter, missing the Zacks’ consensus estimate of $0.93 by ($0.30). The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Chemours had a net margin of 12.60% and a return on equity of 87.75%. Chemours’s revenue for the quarter was down 20.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.41 EPS. On average, research analysts anticipate that Chemours will post 4.22 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Thursday, May 16th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date of this dividend is Wednesday, May 15th. Chemours’s dividend payout ratio is presently 17.64%.

In other Chemours news, SVP Susan M. Kelliher purchased 6,500 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The shares were acquired at an average price of $23.06 per share, for a total transaction of $149,890.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark P. Vergnano purchased 44,000 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was acquired at an average price of $23.17 per share, for a total transaction of $1,019,480.00. Following the purchase, the chief executive officer now owns 116,600 shares of the company’s stock, valued at approximately $2,701,622. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 55,500 shares of company stock worth $1,289,670. 2.34% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP bought a new position in shares of Chemours during the first quarter valued at approximately $544,000. Lowe Brockenbrough & Co. Inc. bought a new position in shares of Chemours during the first quarter valued at approximately $513,000. FMR LLC grew its holdings in shares of Chemours by 2.0% during the first quarter. FMR LLC now owns 24,912,740 shares of the specialty chemicals company’s stock valued at $925,757,000 after purchasing an additional 479,467 shares during the last quarter. HighTower Advisors LLC grew its holdings in shares of Chemours by 128.5% during the first quarter. HighTower Advisors LLC now owns 49,394 shares of the specialty chemicals company’s stock valued at $1,818,000 after purchasing an additional 27,777 shares during the last quarter. Finally, Soapstone Management L.P. grew its holdings in shares of Chemours by 47.1% during the first quarter. Soapstone Management L.P. now owns 125,000 shares of the specialty chemicals company’s stock valued at $4,645,000 after purchasing an additional 40,000 shares during the last quarter. Institutional investors and hedge funds own 80.12% 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, 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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