Chemours (NYSE:CC) Price Target Cut to $21.00 by Analysts at Mizuho

Chemours (NYSE:CC) had its price objective decreased by Mizuho from $22.00 to $21.00 in a report published on Tuesday morning,Benzinga reports. Mizuho currently has a neutral rating on the specialty chemicals company’s stock.

A number of other brokerages also recently commented on CC. BMO Capital Markets lifted their price target on shares of Chemours from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, October 7th. Royal Bank of Canada restated an “outperform” rating and set a $25.00 price objective on shares of Chemours in a report on Thursday, December 12th. Barclays raised their price target on shares of Chemours from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. The Goldman Sachs Group reduced their price objective on Chemours from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, Morgan Stanley decreased their target price on shares of Chemours from $30.00 to $25.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 5th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $24.13.

Chemours Price Performance

Shares of NYSE CC opened at $18.86 on Tuesday. The company has a current ratio of 1.73, a quick ratio of 0.92 and a debt-to-equity ratio of 6.05. The company’s 50-day moving average price is $19.29 and its 200 day moving average price is $19.97. Chemours has a 52 week low of $15.10 and a 52 week high of $32.48. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of 37.72 and a beta of 1.83.

Chemours (NYSE:CC) last announced its quarterly earnings results on Monday, November 4th. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.08. Chemours had a net margin of 1.34% and a return on equity of 29.48%. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the prior year, the firm earned $0.64 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, research analysts forecast that Chemours will post 1.35 earnings per share for the current fiscal year.

Chemours Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 15th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 5.30%. Chemours’s payout ratio is 200.00%.

Insider Buying and Selling at Chemours

In other Chemours news, SVP Alvenia Scarborough sold 7,500 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $20.64, for a total value of $154,800.00. Following the sale, the senior vice president now directly owns 16,645 shares of the company’s stock, valued at $343,552.80. This trade represents a 31.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.47% of the stock is owned by insiders.

Hedge Funds Weigh In On Chemours

Several institutional investors have recently modified their holdings of the company. Arizona State Retirement System boosted its stake in Chemours by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 41,657 shares of the specialty chemicals company’s stock valued at $940,000 after purchasing an additional 863 shares during the period. Texas Permanent School Fund Corp boosted its position in shares of Chemours by 12.0% during the second quarter. Texas Permanent School Fund Corp now owns 145,289 shares of the specialty chemicals company’s stock worth $3,279,000 after buying an additional 15,527 shares during the period. LGT Fund Management Co Ltd. grew its holdings in Chemours by 79.4% in the 2nd quarter. LGT Fund Management Co Ltd. now owns 229,483 shares of the specialty chemicals company’s stock worth $5,179,000 after buying an additional 101,538 shares in the last quarter. SIR Capital Management L.P. increased its position in Chemours by 51.4% in the 2nd quarter. SIR Capital Management L.P. now owns 595,435 shares of the specialty chemicals company’s stock valued at $13,439,000 after acquiring an additional 202,054 shares during the period. Finally, Headlands Technologies LLC raised its stake in Chemours by 315.8% during the 2nd quarter. Headlands Technologies LLC now owns 6,641 shares of the specialty chemicals company’s stock valued at $150,000 after acquiring an additional 5,044 shares in the last quarter. Institutional investors own 76.26% of the company’s stock.

About Chemours

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.