Chemours (NYSE:CC) Sets New 52-Week Low – Should You Sell?

The Chemours Company (NYSE:CC) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $13.09 and last traded at $13.18, with a volume of 357673 shares. The stock had previously closed at $13.45.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CC shares. Barclays dropped their target price on shares of Chemours from $23.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Monday, February 24th. Truist Financial assumed coverage on shares of Chemours in a research note on Tuesday, January 28th. They set a “buy” rating and a $27.00 target price on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $25.00 target price on shares of Chemours in a research report on Thursday, December 12th. Mizuho dropped their price target on Chemours from $22.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Finally, The Goldman Sachs Group decreased their price objective on Chemours from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Chemours has a consensus rating of “Hold” and an average target price of $23.11.

Chemours Stock Up 0.9 %

The stock has a market capitalization of $2.03 billion, a P/E ratio of 23.80 and a beta of 2.00. The firm has a 50 day moving average of $17.44 and a 200-day moving average of $18.63. The company has a debt-to-equity ratio of 6.70, a current ratio of 1.68 and a quick ratio of 0.92.

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

Chemours Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.37%. The ex-dividend date is Friday, February 28th. Chemours’s dividend payout ratio is presently 175.44%.

Institutional Trading of Chemours

Several institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC boosted its position in Chemours by 3.5% in the third quarter. FMR LLC now owns 18,142,202 shares of the specialty chemicals company’s stock valued at $368,650,000 after buying an additional 618,361 shares in the last quarter. Vanguard Group Inc. grew its holdings in Chemours by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 15,223,961 shares of the specialty chemicals company’s stock worth $257,285,000 after acquiring an additional 94,885 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Chemours by 23.8% in 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 in the last quarter. Millennium Management LLC increased its position in shares of Chemours by 44.6% during the 4th quarter. Millennium Management LLC now owns 2,507,262 shares of the specialty chemicals company’s stock valued at $42,373,000 after purchasing an additional 773,537 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Chemours by 1.2% during the third quarter. Geode Capital Management LLC now owns 2,491,748 shares of the specialty chemicals company’s stock valued at $50,646,000 after buying an additional 28,803 shares during the period. 76.26% of the stock is currently 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.