Chemours Co (NYSE:CC) has been given a consensus rating of “Buy” by the eleven brokerages that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $58.00.
A number of equities analysts have issued reports on CC shares. Jefferies Group increased their price target on Chemours to $66.00 and gave the stock a “buy” rating in a report on Monday, December 4th. Zacks Investment Research upgraded Chemours from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a report on Thursday, November 9th. UBS Group increased their price target on Chemours from $50.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, November 3rd. Barclays increased their price target on Chemours from $55.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, November 6th. Finally, Goldman Sachs Group cut Chemours from a “buy” rating to a “neutral” rating and set a $55.00 price target on the stock. in a report on Wednesday, December 6th.
Shares of Chemours (NYSE CC) traded up $2.42 during mid-day trading on Friday, reaching $54.02. The company had a trading volume of 1,626,829 shares, compared to its average volume of 1,920,000. The company has a market capitalization of $9,980.00 and a PE ratio of 37.26. Chemours has a 1-year low of $24.17 and a 1-year high of $58.08. The company has a debt-to-equity ratio of 5.07, a current ratio of 2.19 and a quick ratio of 1.63.
Chemours declared that its Board of Directors has authorized a share repurchase program on Friday, December 1st that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the specialty chemicals company to purchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, February 15th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.26%. This is a positive change from Chemours’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Wednesday, February 14th. Chemours’s dividend payout ratio is presently 8.28%.
In other news, insider E Bryan Snell sold 11,878 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $53.25, for a total transaction of $632,503.50. Following the transaction, the insider now directly owns 63,063 shares of the company’s stock, valued at $3,358,104.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christian W. Siemer sold 15,088 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $47.37, for a total value of $714,718.56. The disclosure for this sale can be found here. 1.14% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of the company. FMR LLC raised its position in shares of Chemours by 6.1% during the second quarter. FMR LLC now owns 15,830,411 shares of the specialty chemicals company’s stock worth $600,289,000 after purchasing an additional 905,038 shares during the period. Renaissance Technologies LLC raised its position in shares of Chemours by 10.3% during the second quarter. Renaissance Technologies LLC now owns 3,342,200 shares of the specialty chemicals company’s stock worth $126,736,000 after purchasing an additional 310,800 shares during the period. Bank of New York Mellon Corp raised its position in shares of Chemours by 7.9% during the third quarter. Bank of New York Mellon Corp now owns 2,371,909 shares of the specialty chemicals company’s stock worth $120,042,000 after purchasing an additional 173,523 shares during the period. JPMorgan Chase & Co. raised its position in Chemours by 11.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,201,287 shares of the specialty chemicals company’s stock valued at $110,969,000 after buying an additional 234,705 shares during the last quarter. Finally, Columbus Circle Investors raised its position in Chemours by 173.2% in the 3rd quarter. Columbus Circle Investors now owns 1,022,466 shares of the specialty chemicals company’s stock valued at $51,747,000 after buying an additional 648,200 shares during the last quarter. 74.36% of the stock is currently owned by institutional investors.
Chemours Company Profile
The Chemours Company is a provider of performance chemicals. The Company operates through three segments: Titanium Technologies, Fluoroproducts and Chemical Solutions. The Titanium Technologies segment is a producer of titanium dioxide (TiO2). The Fluoroproducts segment is a provider of fluoroproducts, including refrigerants and industrial fluoropolymer resins.
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