Chemours (NYSE:CC) Shares Gap Up - What's Next?

The Chemours Company (NYSE:CC - Get Free Report)'s stock price gapped up before the market opened on Monday . The stock had previously closed at $17.82, but opened at $20.39. Chemours shares last traded at $20.46, with a volume of 882,253 shares changing hands.

Wall Street Analyst Weigh In

CC has been the topic of several recent research reports. BMO Capital Markets raised their price objective on Chemours from $30.00 to $32.00 and gave the stock an "outperform" rating in a research note on Monday, October 7th. The Goldman Sachs Group dropped their target price on shares of Chemours from $29.00 to $23.00 and set a "neutral" rating for the company in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. dropped their price objective on shares of Chemours from $25.00 to $18.00 and set a "neutral" rating for the company in a report on Tuesday, August 6th. Royal Bank of Canada reduced their target price on Chemours from $35.00 to $28.00 and set an "outperform" rating on the stock in a report on Friday, October 11th. Finally, Barclays cut their price target on Chemours from $22.00 to $21.00 and set an "equal weight" rating for the company in a report on Wednesday, September 25th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Chemours has an average rating of "Hold" and an average price target of $25.00.

Chemours Stock Up 15.5 %

The company's fifty day simple moving average is $18.95 and its 200-day simple moving average is $22.23. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.89 and a quick ratio of 1.01. The firm has a market capitalization of $3.07 billion, a PE ratio of 25.27 and a beta of 1.75.

Chemours (NYSE:CC - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The specialty chemicals company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.19). The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. Chemours had a return on equity of 33.21% and a net margin of 2.16%. Chemours's revenue was down 6.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.10 EPS. On average, analysts forecast that The Chemours Company will post 1.32 EPS for the current year.

Chemours Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a yield of 4.86%. Chemours's payout ratio is 123.46%.

Institutional Investors Weigh In On Chemours

A number of large investors have recently made changes to their positions in CC. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Chemours by 169.3% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 35,105 shares of the specialty chemicals company's stock valued at $1,009,000 after purchasing an additional 22,067 shares during the last quarter. Khrom Capital Management LLC raised its position in Chemours by 54.6% during the second quarter. Khrom Capital Management LLC now owns 3,456,626 shares of the specialty chemicals company's stock valued at $78,016,000 after acquiring an additional 1,220,967 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Chemours in the first quarter valued at approximately $1,764,000. Edgestream Partners L.P. purchased a new stake in Chemours in the 1st quarter worth approximately $1,228,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Chemours during the 2nd quarter worth approximately $789,000. 76.26% of the stock is owned by hedge funds and other institutional investors.

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.