Chemours Co (NYSE:CC) has received a consensus recommendation of “Buy” from the twelve research firms that are covering the company, MarketBeat reports. Four 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 updated their coverage on the stock in the last year is $57.94.
A number of research analysts recently issued reports on the company. Zacks Investment Research downgraded Chemours from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 18th. Morgan Stanley assumed coverage on Chemours in a report on Tuesday, January 30th. They set an “equal weight” rating and a $57.50 price target on the stock. UBS Group boosted their price target on Chemours from $50.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. Barclays boosted their price target on Chemours from $55.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, November 6th. Finally, Jefferies Group boosted their price target on Chemours to $66.00 and gave the company a “buy” rating in a report on Monday, December 4th.
In related news, insider Christian W. Siemer sold 15,088 shares of the business’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $47.37, for a total transaction of $714,718.56. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.14% of the stock is owned by insiders.
Chemours (NYSE CC) traded up $0.75 during midday trading on Wednesday, hitting $48.39. The stock had a trading volume of 600,130 shares, compared to its average volume of 1,639,724. Chemours has a 12 month low of $31.48 and a 12 month high of $58.08. The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.63 and a current ratio of 2.19. The company has a market cap of $8,839.69, a price-to-earnings ratio of 33.37, a PEG ratio of 0.61 and a beta of 3.03.
Chemours declared that its Board of Directors has initiated a share repurchase plan on Friday, December 1st that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the specialty chemicals company to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, February 15th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend is Wednesday, February 14th. This is an increase from Chemours’s previous quarterly dividend of $0.03. Chemours’s payout ratio is currently 8.28%.
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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