Chemours (NYSE:CC) Shares Gap Up – Here’s What Happened

The Chemours Company (NYSE:CC) gapped up prior to trading on Monday . The stock had previously closed at $17.82, but opened at $20.39. Chemours shares last traded at $20.46, with a volume of 882,253 shares trading hands.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. UBS Group lowered their price objective on Chemours from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. The Goldman Sachs Group lowered 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. BMO Capital Markets raised their target price on Chemours from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Monday, October 7th. JPMorgan Chase & Co. dropped their price objective on Chemours from $25.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. Finally, Barclays reduced their target price on shares of Chemours from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 25th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Chemours currently has an average rating of “Hold” and an average target price of $25.00.

Chemours Trading Up 16.1 %

The business has a 50-day moving average price of $18.95 and a two-hundred day moving average price of $22.26. The company has a market cap of $3.09 billion, a P/E ratio of 25.26 and a beta of 1.75. The company has a quick ratio of 1.01, a current ratio of 1.89 and a debt-to-equity ratio of 5.45.

Chemours (NYSE:CC) last released its earnings results on Thursday, August 1st. The specialty chemicals company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.19). The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. Chemours had a net margin of 2.16% and a return on equity of 33.21%. The business’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.10 earnings per share. On average, analysts predict that The Chemours Company will post 1.32 EPS for the current year.

Chemours Dividend Announcement

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 given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.83%. The ex-dividend date is Friday, November 15th. Chemours’s payout ratio is 123.46%.

Institutional Trading of Chemours

A number of institutional investors and hedge funds have recently modified their holdings of CC. New Covenant Trust Company N.A. acquired a new position in Chemours during the first quarter valued at approximately $29,000. Blue Trust Inc. grew its holdings 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 during the period. Matrix Trust Co bought a new position in Chemours during the third quarter worth about $25,000. Headlands Technologies LLC acquired a new position in Chemours in the first quarter valued at about $42,000. Finally, Signaturefd LLC increased its holdings in shares of Chemours by 163.7% in the third quarter. Signaturefd LLC now owns 1,959 shares of the specialty chemicals company’s stock worth $40,000 after acquiring an additional 1,216 shares in the last quarter. 76.26% of the stock is owned by 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.