Chemours (NYSE:CC) Hits New 12-Month Low – Should You Sell?

The Chemours Company (NYSE:CC) shares hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $9.64 and last traded at $9.81, with a volume of 236586 shares traded. The stock had previously closed at $10.62.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CC. The Goldman Sachs Group cut their target price on shares of Chemours from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. BMO Capital Markets reduced their price objective on Chemours from $34.00 to $27.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Mizuho raised Chemours from a “neutral” rating to an “outperform” rating and set a $19.00 target price for the company in a research note on Thursday, March 27th. Truist Financial assumed coverage on Chemours in a report on Tuesday, January 28th. They set a “buy” rating and a $27.00 price target on the stock. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $25.00 price objective on shares of Chemours in a research report on Thursday, December 12th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.56.

Chemours Trading Down 0.4 %

The stock has a market capitalization of $1.58 billion, a PE ratio of 18.59 and a beta of 1.84. The business’s 50-day moving average is $15.67 and its two-hundred day moving average is $18.01. The company has a debt-to-equity ratio of 6.70, a quick ratio of 0.92 and a current ratio of 1.68.

Chemours (NYSE:CC) last released 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. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Chemours had a return on equity of 26.54% and a net margin of 1.51%. As a group, equities research analysts anticipate that The Chemours Company will post 2.03 earnings per share for the current 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 given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.00 annualized dividend and a dividend yield of 9.46%. Chemours’s payout ratio is currently 175.44%.

Institutional Investors Weigh In On Chemours

Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC raised its position 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 during the last quarter. Quadrant Capital Group LLC increased its stake in shares of Chemours by 100.4% during the 4th quarter. Quadrant Capital Group LLC now owns 2,234 shares of the specialty chemicals company’s stock worth $38,000 after purchasing an additional 1,119 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of Chemours during the 4th quarter worth approximately $48,000. Itau Unibanco Holding S.A. raised its position in shares of Chemours by 39.3% during the 4th quarter. Itau Unibanco Holding S.A. now owns 3,554 shares of the specialty chemicals company’s stock worth $60,000 after purchasing an additional 1,003 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Chemours in the 4th quarter valued at approximately $91,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.

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.