Chemours Co (NYSE:CC) announced a quarterly dividend on Wednesday, July 29th, Zacks reports. Shareholders of record on Monday, August 17th will be paid a dividend of 0.25 per share by the specialty chemicals company on Tuesday, September 15th. This represents a $1.00 annualized dividend and a yield of 5.27%. The ex-dividend date of this dividend is Friday, August 14th.
Chemours has increased its dividend by an average of 733.3% annually over the last three years and has increased its dividend every year for the last 2 years. Chemours has a payout ratio of 58.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Chemours to earn $1.97 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 50.8%.
NYSE CC traded up $0.96 during trading hours on Friday, hitting $18.96. The company had a trading volume of 30,286 shares, compared to its average volume of 1,498,808. The firm has a market cap of $3.07 billion, a P/E ratio of -61.78 and a beta of 2.44. The company has a quick ratio of 1.10, a current ratio of 1.93 and a debt-to-equity ratio of 6.42. Chemours has a fifty-two week low of $7.02 and a fifty-two week high of $20.23. The business has a fifty day simple moving average of $15.95 and a 200-day simple moving average of $13.88.
Chemours (NYSE:CC) last issued its quarterly earnings results on Thursday, July 30th. The specialty chemicals company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.10. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.08 billion. Chemours had a positive return on equity of 56.54% and a negative net margin of 0.82%. Equities analysts forecast that Chemours will post 1.46 EPS for the current fiscal year.
In related news, COO Mark Newman purchased 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The stock was acquired at an average price of $11.62 per share, for a total transaction of $29,050.00. Following the transaction, the chief operating officer now directly owns 132,344 shares of the company’s stock, valued at approximately $1,537,837.28. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.72% of the company’s stock.
A number of brokerages have recently commented on CC. SunTrust Banks raised their price target on Chemours from $10.00 to $12.00 and gave the company a “hold” rating in a report on Thursday, May 7th. Citigroup lowered their price target on Chemours from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, April 9th. Cfra lowered their price target on Chemours from $21.00 to $11.00 and set a “hold” rating on the stock in a report on Friday, April 3rd. Zacks Investment Research raised Chemours from a “strong sell” rating to a “hold” rating and set a $17.00 price target on the stock in a report on Tuesday, July 7th. Finally, UBS Group raised their target price on Chemours from $12.00 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $14.30.
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, Fluoroproducts, and Chemical Solutions. The Titanium Technologies segment manufactures and sells titanium dioxide under the Ti-Pure and BaiMax brands for various applications in architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride window profiles, laminate papers used for furniture and building materials, and coated papers and paperboards used for packaging.
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