Chemours’ (CC) Outperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Chemours (NYSE:CC) in a report published on Thursday,Benzinga reports. Royal Bank of Canada currently has a $25.00 target price on the specialty chemicals company’s stock.

Several other brokerages have also recently issued reports on CC. BMO Capital Markets lifted their price objective on Chemours from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. Barclays boosted their price target 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. The Goldman Sachs Group reduced their price objective on shares of Chemours from $29.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, September 3rd. Finally, Morgan Stanley lowered their target price on shares of Chemours from $30.00 to $25.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 5th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Chemours has an average rating of “Hold” and a consensus target price of $24.88.

Chemours Price Performance

Shares of NYSE CC opened at $19.04 on Thursday. The firm has a 50-day simple moving average of $19.92 and a 200-day simple moving average of $20.80. The company has a quick ratio of 0.92, a current ratio of 1.73 and a debt-to-equity ratio of 6.05. The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of 38.08 and a beta of 1.80. Chemours has a 52 week low of $15.10 and a 52 week high of $32.70.

Chemours (NYSE:CC) last released its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.08. Chemours had a net margin of 1.34% and a return on equity of 29.48%. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same period last year, the business earned $0.64 earnings per share. Chemours’s revenue was up .9% compared to the same quarter last year. On average, equities analysts predict that Chemours will post 1.35 earnings per share for the current fiscal year.

Chemours Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.25%. Chemours’s dividend payout ratio is presently 200.00%.

Insider Buying and Selling

In other Chemours news, SVP Alvenia Scarborough sold 7,500 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $20.64, for a total value of $154,800.00. Following the sale, the senior vice president now owns 16,645 shares of the company’s stock, valued at approximately $343,552.80. This represents a 31.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.47% of the stock is owned by insiders.

Institutional Investors Weigh In On Chemours

A number of institutional investors and hedge funds have recently bought and sold shares of CC. FMR LLC raised its position in shares of Chemours by 3.5% in the third quarter. FMR LLC now owns 18,142,202 shares of the specialty chemicals company’s stock valued at $368,650,000 after buying an additional 618,361 shares during the last quarter. Marshall Wace LLP grew its stake in Chemours by 23.8% in the 2nd quarter. Marshall Wace LLP now owns 7,009,868 shares of the specialty chemicals company’s stock worth $158,213,000 after acquiring an additional 1,347,710 shares during the period. Khrom Capital Management LLC raised its holdings in Chemours by 54.6% in the 2nd quarter. Khrom Capital Management LLC now owns 3,456,626 shares of the specialty chemicals company’s stock valued at $78,016,000 after acquiring an additional 1,220,967 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Chemours by 6.8% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,824,301 shares of the specialty chemicals company’s stock worth $63,744,000 after purchasing an additional 178,625 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of 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 purchasing an additional 28,803 shares during the last quarter. 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.