Chemours (NYSE:CC) Trading Up 8.9% – Should You Buy?

The Chemours Company (NYSE:CC)’s stock price rose 8.9% on Tuesday . The company traded as high as $18.63 and last traded at $18.44. Approximately 313,561 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 1,070,995 shares. The stock had previously closed at $16.93.

Wall Street Analysts Forecast Growth

CC has been the subject of several analyst reports. BMO Capital Markets boosted their price objective on Chemours from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, October 7th. Morgan Stanley decreased their price objective on shares of Chemours from $30.00 to $25.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. Barclays upped their target price on shares of Chemours from $21.00 to $23.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Mizuho decreased their price target on shares of Chemours from $22.00 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $25.00 target price on shares of Chemours in a report on Thursday, December 12th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $24.13.

Chemours Price Performance

The company has a 50 day moving average of $19.28 and a 200 day moving average of $20.00. The company has a debt-to-equity ratio of 6.05, a quick ratio of 0.92 and a current ratio of 1.73. The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of 37.18 and a beta of 1.83.

Chemours (NYSE:CC) last posted its quarterly earnings results on Monday, November 4th. The specialty chemicals company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.32 by $0.08. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Chemours had a net margin of 1.34% and a return on equity of 29.48%. The firm’s revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.64 EPS. As a group, equities research analysts anticipate that The Chemours Company will post 1.35 EPS for the current year.

Chemours Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 15th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 5.38%. The ex-dividend date was Friday, November 15th. Chemours’s dividend payout ratio (DPR) is 200.00%.

Insider Transactions at Chemours

In related news, SVP Alvenia Scarborough sold 7,500 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $20.64, for a total transaction of $154,800.00. Following the completion of the sale, the senior vice president now owns 16,645 shares in the company, valued at $343,552.80. This represents a 31.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.47% of the company’s stock.

Hedge Funds Weigh In On Chemours

A number of hedge funds and other institutional investors have recently made changes to their positions in CC. Khrom Capital Management LLC increased its position in Chemours by 54.6% during the 2nd quarter. Khrom Capital Management LLC now owns 3,456,626 shares of the specialty chemicals company’s stock worth $78,016,000 after purchasing an additional 1,220,967 shares during the period. Vision One Management Partners LP purchased a new position in Chemours in the third quarter worth $28,252,000. 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 valued at $10,223,000 after acquiring an additional 43,200 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Chemours in the second quarter valued at about $789,000. Finally, Geode Capital Management LLC grew its position in Chemours by 1.2% during the third quarter. Geode Capital Management LLC now owns 2,491,748 shares of the specialty chemicals company’s stock worth $50,646,000 after buying an additional 28,803 shares during the period. Hedge funds and other institutional investors own 76.26% 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, 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.