Chemours (NYSE:CC) Hits New 1-Year Low - Time to Sell?

The Chemours Company (NYSE:CC - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $9.64 and last traded at $9.81, with a volume of 236586 shares. The stock had previously closed at $10.62.

Analysts Set New Price Targets

CC has been the subject of a number of research reports. Truist Financial started coverage on Chemours in a research report on Tuesday, January 28th. They set a "buy" rating and a $27.00 target price for the company. Barclays lowered their price objective on shares of Chemours from $19.00 to $16.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 1st. BMO Capital Markets dropped their price objective 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. The Goldman Sachs Group decreased their target price on shares of Chemours from $24.00 to $21.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 7th. Finally, Mizuho upgraded Chemours from a "neutral" rating to an "outperform" rating and set a $19.00 price objective on the stock in a research report on Thursday, March 27th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Chemours has a consensus rating of "Moderate Buy" and an average price target of $22.56.

Chemours Trading Up 4.3 %

The company's 50 day simple moving average is $14.54 and its 200-day simple moving average is $17.62. The firm has a market cap of $1.68 billion, a P/E ratio of 19.78 and a beta of 1.84. The company has a quick ratio of 0.92, a current ratio of 1.68 and a debt-to-equity ratio of 6.70.

Remove Ads

Chemours (NYSE:CC - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.10 by $0.01. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.37 billion. Chemours had a return on equity of 26.54% and a net margin of 1.51%. As a group, research analysts predict that The Chemours Company will post 2.03 earnings per share for the current fiscal year.

Chemours Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.87%. The ex-dividend date was Friday, February 28th. Chemours's dividend payout ratio is currently 175.44%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Chemours by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 15,223,961 shares of the specialty chemicals company's stock worth $257,285,000 after acquiring an additional 94,885 shares during the period. Ameriprise Financial Inc. grew its stake in Chemours by 23.8% in the fourth quarter. Ameriprise Financial Inc. now owns 4,373,172 shares of the specialty chemicals company's stock worth $73,907,000 after purchasing an additional 839,849 shares in the last quarter. Millennium Management LLC increased its holdings in Chemours by 44.6% during the 4th quarter. Millennium Management LLC now owns 2,507,262 shares of the specialty chemicals company's stock worth $42,373,000 after purchasing an additional 773,537 shares during the period. Geode Capital Management LLC raised its position in Chemours by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,491,748 shares of the specialty chemicals company's stock valued at $50,646,000 after purchasing an additional 28,803 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Chemours in the 4th quarter worth $30,702,000. 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.