Chemours (NYSE:CC) Price Target Lowered to $19.00 at Barclays

Chemours (NYSE:CC) had its price target lowered by Barclays from $23.00 to $19.00 in a report issued on Monday,Benzinga reports. Barclays currently has an equal weight rating on the specialty chemicals company’s stock.

CC has been the topic of several other reports. Morgan Stanley lowered their target price on shares of Chemours from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $25.00 price target on shares of Chemours in a report on Thursday, December 12th. The Goldman Sachs Group cut their price objective on Chemours from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Truist Financial began coverage on shares of Chemours in a research note on Tuesday, January 28th. They issued a “buy” rating and a $27.00 target price on the stock. Finally, BMO Capital Markets cut their price target on shares of Chemours from $34.00 to $27.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $23.11.

Chemours Trading Up 1.3 %

NYSE CC opened at $16.00 on Monday. The business’s fifty day moving average is $17.96 and its 200-day moving average is $18.87. The company has a debt-to-equity ratio of 6.70, a current ratio of 1.68 and a quick ratio of 0.92. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of 28.07 and a beta of 1.81. Chemours has a one year low of $14.94 and a one year high of $29.44.

Chemours (NYSE:CC) last announced its quarterly earnings data on Tuesday, February 18th. The specialty chemicals company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.01. Chemours had a return on equity of 26.54% and a net margin of 1.51%. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.37 billion. Equities research analysts predict that Chemours will post 2.03 EPS for the current year.

Chemours Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 6.25%. The ex-dividend date of this dividend is Friday, February 28th. Chemours’s dividend payout ratio is 175.44%.

Institutional Investors Weigh In On Chemours

Institutional investors have recently added to or reduced their stakes in the company. Creative Planning boosted its holdings in shares of Chemours by 66.6% during the third quarter. Creative Planning now owns 44,228 shares of the specialty chemicals company’s stock worth $899,000 after purchasing an additional 17,682 shares during the period. Blue Trust Inc. increased its holdings in Chemours by 166.9% during the 3rd quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 731 shares during the period. Signaturefd LLC raised its position in Chemours by 163.7% during the 3rd quarter. Signaturefd LLC now owns 1,959 shares of the specialty chemicals company’s stock valued at $40,000 after purchasing an additional 1,216 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Chemours in the 3rd quarter worth approximately $4,110,000. Finally, State of Alaska Department of Revenue grew its position in shares of Chemours by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 17,205 shares of the specialty chemicals company’s stock worth $349,000 after buying an additional 1,175 shares during the last quarter. Hedge funds and other institutional investors 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.