Morgan Stanley set a $26.00 price objective on Chemours (NYSE:CC) in a report released on Wednesday, June 19th, TipRanks reports. The brokerage currently has a hold rating on the specialty chemicals company’s stock.
Other analysts have also issued research reports about the company. Jefferies Financial Group decreased their price target on Chemours from $48.00 to $30.00 and set a buy rating on the stock in a research note on Monday, June 10th. Susquehanna Bancshares reissued a neutral rating and issued a $37.00 price objective on shares of Chemours in a research note on Tuesday, February 19th. Barclays reissued a buy rating and issued a $42.00 price objective on shares of Chemours in a research note on Monday, June 3rd. Citigroup set a $83.00 price objective on Jacobs Engineering Group and gave the stock a buy rating in a research note on Wednesday, February 20th. Finally, JPMorgan Chase & Co. reissued an overweight rating and issued a $72.00 price objective (up previously from $70.00) on shares of First Solar in a research note on Monday, May 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. Chemours currently has a consensus rating of Hold and a consensus target price of $38.10.
Shares of CC stock traded up $0.58 during trading on Wednesday, reaching $19.74. The company had a trading volume of 2,407,719 shares, compared to its average volume of 2,649,357. The stock has a 50 day moving average price of $22.75. 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 one year low of $18.74 and a one year high of $48.97. The firm has a market cap of $3.24 billion, a P/E ratio of 3.48, a PEG ratio of 0.32 and a beta of 2.50.
The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Thursday, May 16th were given a dividend of $0.25 per share. The ex-dividend date was Wednesday, May 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.07%. Chemours’s payout ratio is currently 17.64%.
In other news, CEO Mark P. Vergnano bought 44,000 shares of the stock in a transaction dated Monday, June 10th. The shares were bought at an average price of $23.17 per share, for a total transaction of $1,019,480.00. Following the completion of the purchase, the chief executive officer now owns 116,600 shares in the company, valued at $2,701,622. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bradley J. Bell bought 5,000 shares of the stock in a transaction dated Thursday, May 16th. The shares were purchased at an average price of $24.06 per share, for a total transaction of $120,300.00. The disclosure for this purchase can be found here. Insiders acquired 55,500 shares of company stock valued at $1,289,670 over the last 90 days. Corporate insiders own 2.34% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc boosted its holdings in shares of Chemours by 0.3% in the 3rd quarter. Vanguard Group Inc now owns 18,119,103 shares of the specialty chemicals company’s stock valued at $714,617,000 after purchasing an additional 56,773 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Chemours by 6.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 10,405 shares of the specialty chemicals company’s stock valued at $294,000 after acquiring an additional 667 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Chemours by 185.8% during the 4th quarter. Canada Pension Plan Investment Board now owns 525,500 shares of the specialty chemicals company’s stock valued at $14,828,000 after acquiring an additional 341,600 shares in the last quarter. Penserra Capital Management LLC boosted its holdings in shares of Chemours by 122.6% during the 4th quarter. Penserra Capital Management LLC now owns 4,167 shares of the specialty chemicals company’s stock valued at $116,000 after acquiring an additional 2,295 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV boosted its holdings in shares of Chemours by 17.0% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 15,712 shares of the specialty chemicals company’s stock valued at $443,000 after acquiring an additional 2,285 shares in the last quarter. Institutional investors own 79.86% of the company’s stock.
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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