Chemours (NYSE:CC) Trading Up 8.9% – Time to Buy?

The Chemours Company (NYSE:CC)’s share price shot up 8.9% during mid-day trading on Tuesday . The stock traded as high as $18.63 and last traded at $18.44. 313,561 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 1,070,995 shares. The stock had previously closed at $16.93.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Morgan Stanley reduced their price target on Chemours from $30.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 5th. BMO Capital Markets upped their target price on Chemours from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, October 7th. The Goldman Sachs Group lowered their price target on shares of Chemours from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday. Barclays upped their price objective on shares of Chemours from $21.00 to $23.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Finally, Mizuho lowered their target price on shares of Chemours from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Chemours has an average rating of “Hold” and a consensus price target of $24.13.

Chemours Price Performance

The stock has a market cap of $2.67 billion, a P/E ratio of 35.74 and a beta of 1.83. The company has a debt-to-equity ratio of 6.05, a quick ratio of 0.92 and a current ratio of 1.73. The business has a 50 day simple moving average of $19.28 and a 200-day simple moving average of $19.96.

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 analysts’ consensus estimates of $0.32 by $0.08. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.44 billion. Chemours had a net margin of 1.34% and a return on equity of 29.48%. The company’s revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 EPS. On average, sell-side analysts forecast that The Chemours Company will post 1.35 EPS for the current year.

Chemours Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 15th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.60%. The ex-dividend date was Friday, November 15th. Chemours’s payout ratio is currently 200.00%.

Insider Buying and Selling

In related news, SVP Alvenia Scarborough sold 7,500 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $20.64, for a total transaction of $154,800.00. Following the completion of the transaction, the senior vice president now directly owns 16,645 shares in the company, valued at $343,552.80. The trade was a 31.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is currently owned by insiders.

Institutional Trading of Chemours

A number of hedge funds have recently made changes to their positions in CC. Arizona State Retirement System boosted its stake in Chemours by 2.1% in the second quarter. Arizona State Retirement System now owns 41,657 shares of the specialty chemicals company’s stock worth $940,000 after buying an additional 863 shares in the last quarter. Texas Permanent School Fund Corp boosted its stake in shares of Chemours by 12.0% in the 2nd quarter. Texas Permanent School Fund Corp now owns 145,289 shares of the specialty chemicals company’s stock valued at $3,279,000 after purchasing an additional 15,527 shares in the last quarter. Headlands Technologies LLC grew its holdings in shares of Chemours by 315.8% during the 2nd quarter. Headlands Technologies LLC now owns 6,641 shares of the specialty chemicals company’s stock valued at $150,000 after purchasing an additional 5,044 shares during the last quarter. American Century Companies Inc. raised its position in Chemours by 26.7% in the 2nd quarter. American Century Companies Inc. now owns 1,811,957 shares of the specialty chemicals company’s stock worth $40,896,000 after purchasing an additional 382,100 shares during the period. Finally, Quantbot Technologies LP lifted its stake in Chemours by 119.6% in the second quarter. Quantbot Technologies LP now owns 122,973 shares of the specialty chemicals company’s stock worth $2,776,000 after purchasing an additional 66,966 shares during the last quarter. 76.26% of the stock is owned by institutional investors.

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.