Chemours (NYSE:CC) Shares Gap Down Following Analyst Downgrade

The Chemours Company (NYSE:CC - Get Free Report) gapped down before the market opened on Wednesday after BMO Capital Markets lowered their price target on the stock from $34.00 to $27.00. The stock had previously closed at $17.48, but opened at $16.72. BMO Capital Markets currently has an outperform rating on the stock. Chemours shares last traded at $17.16, with a volume of 145,724 shares changing hands.

A number of other equities analysts also recently commented on CC. Mizuho reduced their price objective on shares of Chemours from $22.00 to $21.00 and set a "neutral" rating for the company in a research note on Tuesday, January 7th. Truist Financial assumed coverage on shares of Chemours in a report on Tuesday, January 28th. They issued a "buy" rating and a $27.00 price target on the stock. The Goldman Sachs Group cut 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, January 7th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $25.00 target price on shares of Chemours in a research note on Thursday, December 12th. Finally, Morgan Stanley lowered their price target on Chemours from $25.00 to $22.00 and set an "equal weight" rating for the company in a research report on Monday, January 13th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $23.56.

Hedge Funds Weigh In On Chemours

A number of institutional investors have recently added to or reduced their stakes in CC. iSAM Funds UK Ltd bought a new stake in Chemours during the fourth quarter valued at $332,000. Vision One Management Partners LP raised its position in Chemours by 12.1% during the fourth quarter. Vision One Management Partners LP now owns 1,558,498 shares of the specialty chemicals company's stock valued at $26,339,000 after buying an additional 168,148 shares during the period. Two Sigma Advisers LP boosted its holdings in shares of Chemours by 31.5% during the fourth quarter. Two Sigma Advisers LP now owns 661,500 shares of the specialty chemicals company's stock worth $11,179,000 after purchasing an additional 158,400 shares during the period. Two Sigma Investments LP boosted its stake in shares of Chemours by 22.4% during the 4th quarter. Two Sigma Investments LP now owns 1,155,437 shares of the specialty chemicals company's stock valued at $19,527,000 after buying an additional 211,641 shares during the period. Finally, State of Wyoming acquired a new stake in Chemours during the fourth quarter valued at $208,000. Institutional investors and hedge funds own 76.26% of the company's stock.

Chemours Stock Performance

The stock has a market cap of $2.51 billion, a P/E ratio of 29.42 and a beta of 1.81. The firm's 50-day moving average is $18.09 and its two-hundred day moving average is $18.91. The company has a quick ratio of 0.92, a current ratio of 1.68 and a debt-to-equity ratio of 6.70.

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

Chemours Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.00 dividend on an annualized basis and a yield of 5.96%. Chemours's payout ratio is currently 175.44%.

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.