Chemours (NYSE:CC) Price Target Cut to $21.00 by Analysts at The Goldman Sachs Group

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

CC has been the topic of a number of other research reports. BMO Capital Markets raised their price objective on shares of Chemours from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $25.00 price target on shares of Chemours in a research report on Thursday, December 12th. Barclays upped their price objective on Chemours from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Finally, Morgan Stanley lowered their target price on Chemours from $30.00 to $25.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Chemours currently has a consensus rating of “Hold” and an average target price of $24.13.

Chemours Trading Down 4.7 %

Shares of CC stock opened at $17.87 on Tuesday. The firm has a market capitalization of $2.67 billion, a PE 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. Chemours has a 1 year low of $15.10 and a 1 year high of $32.48. The stock has a fifty day moving average of $19.28 and a two-hundred day moving average of $19.94.

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

Chemours Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 15th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.60%. The ex-dividend date of this dividend was Friday, November 15th. Chemours’s dividend payout ratio (DPR) is presently 200.00%.

Insider Buying and Selling

In related news, SVP Alvenia Scarborough sold 7,500 shares of the firm’s stock in a transaction that occurred 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.47% of the stock is currently owned by company insiders.

Institutional Trading of Chemours

Several hedge funds and other institutional investors have recently modified their holdings of CC. FMR LLC raised its position in Chemours by 3.5% during the third quarter. FMR LLC now owns 18,142,202 shares of the specialty chemicals company’s stock valued at $368,650,000 after buying an additional 618,361 shares during the period. Marshall Wace LLP increased its holdings in shares of Chemours by 23.8% in the 2nd quarter. Marshall Wace LLP now owns 7,009,868 shares of the specialty chemicals company’s stock valued at $158,213,000 after purchasing an additional 1,347,710 shares during the period. Khrom Capital Management LLC lifted 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 worth $78,016,000 after purchasing an additional 1,220,967 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Chemours by 1.2% during the third quarter. Geode Capital Management LLC now owns 2,491,748 shares of the specialty chemicals company’s stock worth $50,646,000 after purchasing an additional 28,803 shares during the period. Finally, American Century Companies Inc. grew its position in Chemours by 26.7% during the second quarter. American Century Companies Inc. now owns 1,811,957 shares of the specialty chemicals company’s stock valued at $40,896,000 after purchasing an additional 382,100 shares in the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.

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.