Chemours (NYSE:CC) Stock Price Up 23.4% – What’s Next?

The Chemours Company (NYSE:CC) shares rose 23.4% during trading on Wednesday . The company traded as high as $12.04 and last traded at $11.82. Approximately 2,308,182 shares traded hands during trading, an increase of 29% from the average daily volume of 1,794,958 shares. The stock had previously closed at $9.58.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Barclays cut their price objective on Chemours from $19.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 1st. The Goldman Sachs Group cut their price target on shares of Chemours from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. BMO Capital Markets decreased their price objective on shares of Chemours from $34.00 to $27.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Royal Bank of Canada reiterated an “outperform” rating and issued a $25.00 target price on shares of Chemours in a research note on Thursday, December 12th. Finally, Mizuho upgraded shares of Chemours from a “neutral” rating to an “outperform” rating and set a $19.00 price target for the company in a research note on Thursday, March 27th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.56.

Chemours Trading Up 24.1 %

The company has a market cap of $1.78 billion, a P/E ratio of 20.86 and a beta of 1.84. The company has a quick ratio of 0.92, a current ratio of 1.68 and a debt-to-equity ratio of 6.70. The firm’s 50-day moving average price is $15.12 and its 200-day moving average price is $17.82.

Chemours (NYSE:CC) last posted its earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. Chemours had a return on equity of 26.54% and a net margin of 1.51%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.37 billion. As a group, equities research analysts expect that The Chemours Company will post 2.03 earnings per share for the current fiscal year.

Chemours Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.25 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.00 annualized dividend and a yield of 8.41%. Chemours’s dividend payout ratio is currently 175.44%.

Institutional Trading of Chemours

Several institutional investors and hedge funds have recently bought and sold shares of CC. Vanguard Group Inc. boosted its position in shares of Chemours by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 15,223,961 shares of the specialty chemicals company’s stock valued at $257,285,000 after acquiring an additional 94,885 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Chemours by 23.8% during the fourth quarter. Ameriprise Financial Inc. now owns 4,373,172 shares of the specialty chemicals company’s stock valued at $73,907,000 after purchasing an additional 839,849 shares during the last quarter. Millennium Management LLC grew its stake in Chemours by 44.6% in the 4th quarter. Millennium Management LLC now owns 2,507,262 shares of the specialty chemicals company’s stock worth $42,373,000 after buying an additional 773,537 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Chemours by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,491,748 shares of the specialty chemicals company’s stock worth $50,646,000 after buying an additional 28,803 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Chemours in the 4th quarter worth $30,702,000. 76.26% of the stock is currently 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.