Chemours (NYSE:CC) Given New $23.00 Price Target at Barclays

Chemours (NYSE:CC) had its target price lifted by Barclays from $21.00 to $23.00 in a research note released on Tuesday, Benzinga reports. The brokerage currently has an equal weight rating on the specialty chemicals company’s stock.

A number of other equities analysts have also recently weighed in on CC. BMO Capital Markets upped their price objective on shares of Chemours from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Monday, October 7th. UBS Group decreased their price objective on shares of Chemours from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. The Goldman Sachs Group decreased their price objective 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. Royal Bank of Canada reduced their price target on shares of Chemours from $35.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, October 11th. 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 research report on Tuesday, August 6th. 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, the company currently has a consensus rating of “Hold” and an average price target of $25.25.

Chemours Stock Down 3.4 %

Shares of Chemours stock opened at $19.88 on Tuesday. The company has a fifty day moving average price of $18.97 and a 200 day moving average price of $22.19. 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 has a twelve month low of $15.10 and a twelve month high of $32.70. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of 39.75 and a beta of 1.75.

Chemours (NYSE:CC) last announced its quarterly earnings results on Monday, November 4th. The specialty chemicals company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.08. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Chemours had a net margin of 2.16% and a return on equity of 33.21%. The firm’s revenue was up .9% on a year-over-year basis. During the same period in the prior year, the company earned $0.64 EPS. Equities research analysts forecast that Chemours will post 1.32 earnings per share for the current fiscal year.

Chemours Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be issued a $0.25 dividend. 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 5.03%. Chemours’s dividend payout ratio is currently 200.00%.

Institutional Investors Weigh In On Chemours

Hedge funds have recently made changes to their positions in the business. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Chemours by 169.3% during 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 buying an additional 22,067 shares during the last quarter. Khrom Capital Management LLC raised its holdings 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 worth $78,016,000 after purchasing an additional 1,220,967 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Chemours during the first quarter worth approximately $1,764,000. Edgestream Partners L.P. bought a new stake in Chemours during the first quarter worth approximately $1,228,000. Finally, Point72 Hong Kong Ltd bought a new stake in Chemours during the second quarter worth approximately $789,000. 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.