Chemours (NYSE:CC) Shares Down 5.8% – Should You Sell?

The Chemours Company (NYSE:CC) shares traded down 5.8% during trading on Wednesday . The company traded as low as $19.89 and last traded at $19.95. 391,514 shares changed hands during trading, a decline of 75% from the average session volume of 1,570,253 shares. The stock had previously closed at $21.17.

Analyst Ratings Changes

CC has been the topic of several analyst reports. Royal Bank of Canada dropped their target price on Chemours from $28.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Morgan Stanley reduced their target price on shares of Chemours from $30.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 5th. The Goldman Sachs Group dropped their price target on shares of 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 company an “outperform” rating in a research note on Monday, October 7th. Finally, Barclays boosted their price target on Chemours from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $24.88.

Chemours Trading Down 8.0 %

The company has a debt-to-equity ratio of 6.05, a quick ratio of 0.92 and a current ratio of 1.73. The company has a market cap of $2.91 billion, a P/E ratio of 39.84 and a beta of 1.80. The business has a fifty day simple moving average of $19.93 and a 200 day simple moving average of $20.92.

Chemours (NYSE:CC) last released its earnings results on Monday, November 4th. The specialty chemicals company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.08. Chemours had a net margin of 1.34% and a return on equity of 29.48%. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the previous year, the firm earned $0.64 earnings per share. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. Analysts anticipate that The Chemours Company will post 1.35 earnings per share for the current fiscal year.

Chemours Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid 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 yield of 5.13%. Chemours’s payout ratio is currently 200.00%.

Insider Transactions at Chemours

In other Chemours news, SVP Alvenia Scarborough sold 7,500 shares of the firm’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 value of $154,800.00. Following the sale, the senior vice president now owns 16,645 shares in the company, valued at approximately $343,552.80. This trade represents a 31.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.47% of the company’s stock.

Institutional Trading of Chemours

Several large investors have recently added to or reduced their stakes in the business. FMR LLC boosted its holdings in shares of 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 acquiring an additional 618,361 shares in the last quarter. Marshall Wace LLP raised its stake in shares of Chemours by 23.8% in the 2nd quarter. Marshall Wace LLP now owns 7,009,868 shares of the specialty chemicals company’s stock worth $158,213,000 after buying an additional 1,347,710 shares in the last quarter. Khrom Capital Management LLC lifted its holdings in shares of Chemours by 54.6% in the second quarter. Khrom Capital Management LLC now owns 3,456,626 shares of the specialty chemicals company’s stock valued at $78,016,000 after buying an additional 1,220,967 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in Chemours by 6.8% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,824,301 shares of the specialty chemicals company’s stock valued at $63,744,000 after buying an additional 178,625 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings 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 worth $50,646,000 after acquiring an additional 28,803 shares during the period. 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.