Chemours (NYSE:CC) Sets New 12-Month Low Following Analyst Downgrade

The Chemours Company (NYSE:CC)’s stock price hit a new 52-week low on Tuesday after Barclays lowered their price target on the stock from $19.00 to $16.00. Barclays currently has an equal weight rating on the stock. Chemours traded as low as $12.96 and last traded at $12.94, with a volume of 150034 shares trading hands. The stock had previously closed at $13.53.

Other analysts also recently issued reports about the company. Truist Financial initiated coverage on Chemours in a research note on Tuesday, January 28th. They issued a “buy” rating and a $27.00 price target on the stock. The Goldman Sachs Group lowered their price target on shares of Chemours from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Morgan Stanley reduced their price objective on shares of Chemours from $25.00 to $22.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. BMO Capital Markets decreased their price objective on shares of Chemours from $34.00 to $27.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $25.00 target price on shares of Chemours in a report on Thursday, December 12th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.56.

Hedge Funds Weigh In On Chemours

Several hedge funds have recently bought and sold shares of CC. Corient Private Wealth LLC lifted its position in shares of Chemours by 4.7% in the fourth quarter. Corient Private Wealth LLC now owns 13,428 shares of the specialty chemicals company’s stock valued at $227,000 after acquiring an additional 604 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Chemours by 99.7% in the 4th quarter. GAMMA Investing LLC now owns 1,532 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 765 shares in the last quarter. HUB Investment Partners LLC lifted its holdings in Chemours by 1.4% in the 4th quarter. HUB Investment Partners LLC now owns 58,250 shares of the specialty chemicals company’s stock valued at $984,000 after purchasing an additional 821 shares in the last quarter. Itau Unibanco Holding S.A. boosted its stake in shares of Chemours by 39.3% during the 4th quarter. Itau Unibanco Holding S.A. now owns 3,554 shares of the specialty chemicals company’s stock worth $60,000 after purchasing an additional 1,003 shares during the last quarter. Finally, ARGA Investment Management LP grew its holdings in shares of Chemours by 0.7% during the fourth quarter. ARGA Investment Management LP now owns 148,614 shares of the specialty chemicals company’s stock worth $2,512,000 after buying an additional 1,032 shares in the last quarter. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Chemours Trading Down 4.2 %

The company has a debt-to-equity ratio of 6.70, a current ratio of 1.68 and a quick ratio of 0.92. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of 22.73 and a beta of 2.00. The business’s 50-day moving average price is $16.15 and its two-hundred day moving average price is $18.15.

Chemours (NYSE:CC) last issued its quarterly earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.01. Chemours had a return on equity of 26.54% and a net margin of 1.51%. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.37 billion. Equities analysts expect that The Chemours Company will post 2.03 earnings per share for the current year.

Chemours Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, February 28th. This represents a $1.00 annualized dividend and a dividend yield of 7.72%. Chemours’s payout ratio is currently 175.44%.

About Chemours

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.