Chemours (NYSE:CC) Trading Down 5.8% – Time to Sell?

The Chemours Company (NYSE:CC)’s stock price fell 5.8% during mid-day trading on Wednesday . The stock traded as low as $19.89 and last traded at $19.95. 391,514 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 1,570,253 shares. The stock had previously closed at $21.17.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CC shares. Royal Bank of Canada restated an “outperform” rating and set a $25.00 price objective on shares of Chemours in a research note on Thursday. BMO Capital Markets upped their price target on shares of Chemours from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. Barclays raised their price objective on shares of Chemours from $21.00 to $23.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. The Goldman Sachs Group dropped their price objective on Chemours from $29.00 to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 3rd. Finally, Morgan Stanley reduced their target price on shares of Chemours from $30.00 to $25.00 and set an “equal weight” rating for the company in a report on Tuesday, November 5th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Chemours has a consensus rating of “Hold” and an average target price of $24.88.

Chemours Price Performance

The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of 38.80 and a beta of 1.80. 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 stock has a 50-day simple moving average of $19.93 and a 200 day simple moving average of $20.89.

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

Chemours Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a dividend of $0.25 per share. 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 5.25%. 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 business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $20.64, for a total value of $154,800.00. Following the completion of the sale, the senior vice president now directly owns 16,645 shares of the company’s stock, valued at $343,552.80. The trade was a 31.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On Chemours

A number of large investors have recently bought and sold shares of the business. Matrix Trust Co acquired a new stake in Chemours in the 3rd quarter valued at approximately $25,000. Blue Trust Inc. raised its stake in shares of Chemours by 166.9% in the 3rd quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company’s stock valued at $26,000 after buying an additional 731 shares in the last quarter. Truvestments Capital LLC acquired a new position in shares of Chemours in the 3rd quarter worth approximately $35,000. Brooklyn Investment Group acquired a new position in Chemours during the third quarter worth $37,000. Finally, Signaturefd LLC grew its stake in Chemours by 163.7% during the third quarter. Signaturefd LLC now owns 1,959 shares of the specialty chemicals company’s stock worth $40,000 after buying an additional 1,216 shares during the last quarter. 76.26% of the stock is currently owned by institutional investors.

Chemours Company Profile

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.