Chemours (NYSE:CC) Given New $21.00 Price Target at The Goldman Sachs Group

Chemours (NYSE:CC) had its target price reduced by The Goldman Sachs Group from $24.00 to $21.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have a neutral rating on the specialty chemicals company’s stock.

A number of other brokerages have also recently issued reports on CC. Barclays boosted their price objective on shares of Chemours from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Morgan Stanley lowered their price objective on shares of Chemours from $30.00 to $25.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 5th. BMO Capital Markets lifted their target price on Chemours from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, October 7th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $25.00 price target on shares of Chemours in a report on Thursday, December 12th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $24.13.

Chemours Stock Up 11.4 %

NYSE:CC opened at $18.86 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 1.73 and a debt-to-equity ratio of 6.05. Chemours has a 12-month low of $15.10 and a 12-month high of $32.48. The stock’s fifty day simple moving average is $19.29 and its 200-day simple moving average is $19.97. The firm has a market capitalization of $2.82 billion, a P/E ratio of 37.72 and a beta of 1.83.

Chemours (NYSE:CC) last released its earnings results on Monday, November 4th. The specialty chemicals company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.08. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.44 billion. Chemours had a return on equity of 29.48% and a net margin of 1.34%. The company’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.64 earnings per share. Equities research analysts expect that Chemours will post 1.35 earnings per share for the current year.

Chemours Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 15th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 5.30%. The ex-dividend date of this dividend was Friday, November 15th. Chemours’s dividend payout ratio is 200.00%.

Insider Activity

In related news, SVP Alvenia Scarborough sold 7,500 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $20.64, for a total value of $154,800.00. Following the completion of the transaction, the senior vice president now owns 16,645 shares of the company’s stock, valued at approximately $343,552.80. This trade 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 this hyperlink. Corporate insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On Chemours

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Khrom Capital Management LLC increased its position in shares of Chemours by 54.6% in the second 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. Vision One Management Partners LP bought a new position in Chemours in the third quarter valued at approximately $28,252,000. Two Sigma Advisers LP increased its position in shares of Chemours by 9.4% during the 3rd quarter. Two Sigma Advisers LP now owns 503,100 shares of the specialty chemicals company’s stock worth $10,223,000 after purchasing an additional 43,200 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Chemours during the 2nd quarter worth approximately $789,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Chemours by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,491,748 shares of the specialty chemicals company’s stock valued at $50,646,000 after buying an additional 28,803 shares during the last quarter. 76.26% of the stock is owned by institutional investors.

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.