Mizuho Cuts Chemours (NYSE:CC) Price Target to $18.00

Chemours (NYSE:CC) had its price target cut by Mizuho from $20.00 to $18.00 in a report released on Wednesday,Benzinga reports. They currently have an outperform rating on the specialty chemicals company’s stock.

CC has been the topic of several other research reports. JPMorgan Chase & Co. dropped their target price on Chemours from $22.00 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, August 13th. Weiss Ratings cut Chemours from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, August 6th. Truist Financial decreased their price target on Chemours from $30.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Royal Bank Of Canada dropped their price objective on Chemours from $26.00 to $22.00 and set an “outperform” rating on the stock in a report on Thursday, August 6th. Finally, Morgan Stanley set a $18.00 price objective on Chemours in a report on Monday, August 10th. Five research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $19.70.

Chemours Stock Up 1.5%

CC stock opened at $13.68 on Wednesday. Chemours has a one year low of $10.44 and a one year high of $28.67. The stock has a market capitalization of $2.06 billion, a PE ratio of -7.16 and a beta of 1.41. The company has a debt-to-equity ratio of 18.98, a quick ratio of 0.88 and a current ratio of 1.66. The company has a fifty day moving average of $15.30 and a 200-day moving average of $19.29.

Chemours (NYSE:CC) last issued its earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.07). The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Chemours had a negative net margin of 5.00% and a positive return on equity of 60.64%. The firm’s revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($2.54) EPS. As a group, analysts expect that Chemours will post 0.87 EPS for the current year.

Chemours Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th were issued a $0.0875 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $0.35 dividend on an annualized basis and a yield of 2.6%. Chemours’s dividend payout ratio (DPR) is -18.32%.

Insider Activity

In related news, CFO Shane Hostetter purchased 3,350 shares of Chemours stock in a transaction dated Thursday, August 6th. The stock was bought at an average cost of $14.94 per share, for a total transaction of $50,049.00. Following the transaction, the chief financial officer owned 102,698 shares in the company, valued at approximately $1,534,308.12. The trade was a 3.37% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Calderon Gerardo Familiar purchased 1,935 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The shares were purchased at an average cost of $15.53 per share, for a total transaction of $30,050.55. Following the purchase, the insider directly owned 58,547 shares in the company, valued at approximately $909,234.91. This represents a 3.42% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders purchased 8,663 shares of company stock worth $130,601. Company insiders own 0.85% of the company’s stock.

Institutional Trading of Chemours

Institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC raised its position in Chemours by 10.9% during the first quarter. Parallel Advisors LLC now owns 5,366 shares of the specialty chemicals company’s stock worth $118,000 after acquiring an additional 527 shares during the last quarter. Rothschild Investment LLC lifted its holdings in shares of Chemours by 87.0% in the fourth quarter. Rothschild Investment LLC now owns 2,698 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 1,255 shares in the last quarter. Abel Hall LLC grew its position in shares of Chemours by 12.6% in the first quarter. Abel Hall LLC now owns 12,267 shares of the specialty chemicals company’s stock valued at $270,000 after purchasing an additional 1,369 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Chemours in the second quarter valued at approximately $34,000. Finally, Allworth Financial LP purchased a new position in shares of Chemours during the 2nd quarter worth approximately $51,000. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Chemours Company Profile

The Chemours Company (NYSE: CC) is a global chemical company that develops, manufactures and distributes specialty chemical products used in a range of industrial and consumer applications. Its portfolio serves markets including coatings, plastics, automotive, refrigeration and air conditioning, electronics, telecommunications, energy, healthcare and general manufacturing.

Chemours operates through three primary business segments: Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials.