Chemours (NYSE:CC) Price Target Lowered to $25.00 at Morgan Stanley

Chemours (NYSE:CC) had its price target decreased by Morgan Stanley from $30.00 to $25.00 in a research report report published on Tuesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the specialty chemicals company’s stock.

A number of other equities analysts have also weighed in on CC. UBS Group reduced their price objective on Chemours from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. The Goldman Sachs Group cut their price target on Chemours from $29.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, September 3rd. Barclays lifted their price target on Chemours from $21.00 to $23.00 and gave the company an “equal weight” rating in a research note on Tuesday. BMO Capital Markets lifted their price target on Chemours from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. Finally, Royal Bank of Canada cut their price target on Chemours from $35.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, October 11th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $24.88.

Chemours Stock Performance

Shares of CC stock opened at $19.80 on Tuesday. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 39.59 and a beta of 1.75. The company has a debt-to-equity ratio of 6.05, a current ratio of 1.73 and a quick ratio of 1.01. The business has a fifty day moving average of $19.04 and a 200 day moving average of $22.08. Chemours has a 1 year low of $15.10 and a 1 year high of $32.70.

Chemours (NYSE:CC) last issued its earnings results on Monday, November 4th. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.08. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.44 billion. Chemours had a return on equity of 29.48% and a net margin of 1.34%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter last year, the business posted $0.64 EPS. As a group, research analysts expect that Chemours will post 1.32 earnings per share for the current year.

Chemours Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given 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 dividend yield of 5.05%. Chemours’s dividend payout ratio (DPR) is presently 200.00%.

Institutional Investors Weigh In On Chemours

A number of large investors have recently made changes to their positions in CC. Matrix Trust Co purchased a new position in Chemours in the third quarter worth approximately $25,000. Blue Trust Inc. grew its position in Chemours by 166.9% in the third quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company’s stock worth $26,000 after acquiring an additional 731 shares during the period. New Covenant Trust Company N.A. purchased a new position in Chemours in the first quarter worth approximately $29,000. Signaturefd LLC grew its position in 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 during the period. Finally, Headlands Technologies LLC purchased a new position in Chemours in the first quarter worth approximately $42,000. 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.