Barclays Cuts Chemours (NYSE:CC) Price Target to $21.00

Chemours (NYSE:CC) had its price target cut by Barclays from $22.00 to $21.00 in a research report released on Wednesday, Benzinga reports. They currently have an equal weight rating on the specialty chemicals company’s stock.

Several other analysts have also recently issued reports on the company. BMO Capital Markets cut their target price on Chemours from $35.00 to $30.00 and set an outperform rating for the company in a research report on Tuesday, August 6th. UBS Group cut their price objective on shares of Chemours from $30.00 to $28.00 and set a buy rating for the company in a report on Tuesday, August 6th. The Goldman Sachs Group reduced their price objective on shares of Chemours from $29.00 to $23.00 and set a neutral rating on the stock in a research report on Tuesday, September 3rd. Mizuho initiated coverage on shares of Chemours in a research report on Friday, June 7th. They set a neutral rating and a $25.00 target price for the company. Finally, JPMorgan Chase & Co. reduced their price target on shares of Chemours from $25.00 to $18.00 and set a neutral rating on the stock in a report on Tuesday, August 6th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $26.63.

Chemours Price Performance

NYSE CC opened at $20.72 on Wednesday. The stock has a market cap of $3.09 billion, a price-to-earnings ratio of -9.55 and a beta of 1.74. Chemours has a 12 month low of $15.10 and a 12 month high of $32.70. The company’s 50 day moving average is $19.57 and its two-hundred day moving average is $23.68. The company has a current ratio of 1.89, a quick ratio of 1.01 and a debt-to-equity ratio of 5.45.

Chemours (NYSE:CC) last released its earnings results on Thursday, August 1st. The specialty chemicals company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.19). Chemours had a net margin of 2.16% and a return on equity of 33.21%. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter last year, the firm posted $1.10 EPS. The firm’s quarterly revenue was down 6.4% compared to the same quarter last year. As a group, research analysts anticipate that Chemours will post 1.33 earnings per share for the current year.

Chemours Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 15th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.00 annualized dividend and a yield of 4.83%. Chemours’s dividend payout ratio (DPR) is currently -46.08%.

Institutional Trading of Chemours

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

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.