UBS Group Trims Chemours (NYSE:CC) Target Price to $28.00

Chemours (NYSE:CC) had its target price decreased by UBS Group from $30.00 to $28.00 in a research note published on Tuesday morning, Benzinga reports. UBS Group currently has a buy rating on the specialty chemicals company’s stock.

A number of other equities analysts have also recently issued reports on the stock. BMO Capital Markets decreased their price objective on shares of Chemours from $35.00 to $30.00 and set an outperform rating on the stock in a research report on Tuesday. Barclays lowered their price target on Chemours from $30.00 to $22.00 and set an equal weight rating for the company in a research report on Tuesday. Finally, Mizuho assumed coverage on Chemours in a report on Friday, June 7th. They issued a neutral rating and a $25.00 price objective for the company. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $27.63.

Chemours Trading Up 2.4 %

Shares of CC stock opened at $18.26 on Tuesday. The business has a 50-day moving average of $23.19 and a 200 day moving average of $26.10. The company has a debt-to-equity ratio of 5.26, a current ratio of 1.61 and a quick ratio of 0.99. Chemours has a 1-year low of $15.10 and a 1-year high of $37.14. The stock has a market capitalization of $2.72 billion, a PE ratio of -8.41 and a beta of 1.80.

Chemours (NYSE:CC) last released its quarterly earnings data 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 32.93%. The company had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period last year, the company posted $1.10 EPS. The business’s revenue for the quarter was down 6.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Chemours will post 1.81 earnings per share for the current year.

Chemours Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 15th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 5.48%. The ex-dividend date of this dividend is Thursday, August 15th. Chemours’s dividend payout ratio is currently -46.08%.

Institutional Investors Weigh In On Chemours

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC purchased a new stake in Chemours in the fourth quarter worth about $25,000. New Covenant Trust Company N.A. purchased a new stake in shares of Chemours in the 1st quarter worth approximately $29,000. North Star Investment Management Corp. increased its position in Chemours by 1,510.0% during the 1st quarter. North Star Investment Management Corp. now owns 1,288 shares of the specialty chemicals company’s stock valued at $34,000 after buying an additional 1,208 shares in the last quarter. Morton Brown Family Wealth LLC purchased a new position in Chemours during the fourth quarter valued at $35,000. Finally, Sunbelt Securities Inc. grew its stake in shares of Chemours by 1,969.7% in the first quarter. Sunbelt Securities Inc. now owns 1,366 shares of the specialty chemicals company’s stock worth $36,000 after acquiring an additional 1,300 shares during the last quarter. 76.26% of the stock is owned by hedge funds and other 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.