Chemours (NYSE:CC) Trading 7.1% Higher

Chemours Co (NYSE:CC)’s stock price traded up 7.1% on Thursday . The company traded as high as $17.91 and last traded at $17.76, 3,051,017 shares were traded during mid-day trading. An increase of 18% from the average session volume of 2,580,856 shares. The stock had previously closed at $16.58.

A number of analysts have recently weighed in on the company. Susquehanna Bancshares upgraded Chemours from a “neutral” rating to a “positive” rating and lowered their target price for the company from $37.00 to $18.00 in a research note on Tuesday, August 20th. Cfra upgraded Chemours from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. SunTrust Banks raised their target price on Chemours to $20.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. UBS Group lowered their target price on Chemours from $19.00 to $14.50 and set a “neutral” rating for the company in a research note on Wednesday, October 2nd. Finally, BMO Capital Markets lowered their target price on Chemours from $31.00 to $23.00 and set an “outperform” rating for the company in a research note on Monday, September 9th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. Chemours currently has a consensus rating of “Hold” and a consensus target price of $26.86.

The stock has a 50-day moving average of $17.09 and a 200 day moving average of $17.61. The company has a debt-to-equity ratio of 5.05, a current ratio of 1.72 and a quick ratio of 0.98. The stock has a market capitalization of $2.72 billion, a price-to-earnings ratio of 3.13, a price-to-earnings-growth ratio of 0.44 and a beta of 2.53.

Chemours (NYSE:CC) last announced its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $0.59 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.03. The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.40 billion. Chemours had a return on equity of 58.38% and a net margin of 7.24%. The company’s revenue was down 14.6% on a year-over-year basis. During the same period last year, the company earned $1.49 earnings per share. Sell-side analysts anticipate that Chemours Co will post 2.43 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a yield of 5.63%. Chemours’s payout ratio is 17.64%.

A number of hedge funds have recently made changes to their positions in CC. Kenmare Capital Partners L.L.C. bought a new position in Chemours during the third quarter worth about $214,000. Man Group plc boosted its holdings in Chemours by 652.9% during the third quarter. Man Group plc now owns 100,134 shares of the specialty chemicals company’s stock worth $1,496,000 after buying an additional 86,834 shares during the last quarter. Parametric Portfolio Associates LLC boosted its holdings in Chemours by 117.3% during the third quarter. Parametric Portfolio Associates LLC now owns 625,674 shares of the specialty chemicals company’s stock worth $9,348,000 after buying an additional 337,725 shares during the last quarter. Stifel Financial Corp boosted its holdings in Chemours by 9.4% during the third quarter. Stifel Financial Corp now owns 18,504 shares of the specialty chemicals company’s stock worth $267,000 after buying an additional 1,589 shares during the last quarter. Finally, First Allied Advisory Services Inc. boosted its holdings in Chemours by 30.9% during the third quarter. First Allied Advisory Services Inc. now owns 13,766 shares of the specialty chemicals company’s stock worth $210,000 after buying an additional 3,251 shares during the last quarter. Hedge funds and other institutional investors own 76.22% of the company’s stock.

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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