Chemours (NYSE:CC) Price Target Lowered to $21.00 at The Goldman Sachs Group

Chemours (NYSE:CC) had its price objective decreased by The Goldman Sachs Group from $24.00 to $21.00 in a research report sent to investors on Tuesday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the specialty chemicals company’s stock.

A number of other research analysts have also commented on the stock. Barclays upped their price target 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. BMO Capital Markets upped their target price on Chemours from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Monday, October 7th. Royal Bank of Canada reissued an “outperform” rating and set a $25.00 price target on shares of Chemours in a report on Thursday, December 12th. Finally, Morgan Stanley decreased their price objective on Chemours from $30.00 to $25.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Chemours has a consensus rating of “Hold” and an average target price of $24.13.

Chemours Stock Performance

CC opened at $18.86 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 1.73 and a debt-to-equity ratio of 6.05. Chemours has a 12-month low of $15.10 and a 12-month high of $32.48. The business has a 50 day moving average of $19.29 and a 200-day moving average of $19.97. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of 37.72 and a beta of 1.83.

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

Chemours Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 15th were given a dividend of $0.25 per share. The ex-dividend date was Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.30%. Chemours’s payout ratio is 200.00%.

Insider Transactions at Chemours

In other news, SVP Alvenia Scarborough sold 7,500 shares of the company’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 transaction of $154,800.00. Following the completion of the sale, the senior vice president now owns 16,645 shares of the company’s stock, valued at approximately $343,552.80. This represents a 31.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.47% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. increased 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 purchasing an additional 731 shares during the last quarter. Matrix Trust Co bought a new position in Chemours in the third quarter valued at about $25,000. GAMMA Investing LLC raised its stake in Chemours by 99.7% during the fourth quarter. GAMMA Investing LLC now owns 1,532 shares of the specialty chemicals company’s stock worth $26,000 after acquiring an additional 765 shares in the last quarter. Truvestments Capital LLC bought a new position in shares of Chemours in the third quarter worth about $35,000. Finally, Brooklyn Investment Group acquired a new stake in shares of Chemours in the 3rd quarter valued at approximately $37,000. 76.26% of the stock is currently owned by institutional investors and hedge funds.

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.