Chemours (NYSE:CC) Given New $13.00 Price Target at JPMorgan Chase & Co.

Chemours (NYSE:CC) had its target price trimmed by JPMorgan Chase & Co. from $15.00 to $13.00 in a report published on Wednesday,Benzinga reports. They currently have a neutral rating on the specialty chemicals company’s stock.

Several other brokerages have also issued reports on CC. Mizuho reduced their price target on Chemours from $19.00 to $18.00 and set an “outperform” rating for the company in a report on Thursday, October 16th. Royal Bank Of Canada reduced their target price on shares of Chemours from $19.00 to $17.00 and set an “outperform” rating for the company in a research note on Monday, November 10th. Weiss Ratings restated a “sell (d)” rating on shares of Chemours in a research note on Wednesday, October 8th. Truist Financial reduced their price objective on shares of Chemours from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, November 10th. Finally, UBS Group decreased their price objective on shares of Chemours from $21.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $17.00.

Chemours Stock Performance

Shares of CC opened at $12.95 on Wednesday. The company’s 50 day moving average price is $13.31 and its 200 day moving average price is $13.26. The company has a market capitalization of $1.94 billion, a PE ratio of -5.83 and a beta of 1.59. Chemours has a 52 week low of $9.13 and a 52 week high of $22.26. The company has a debt-to-equity ratio of 13.66, a quick ratio of 0.88 and a current ratio of 1.71.

Chemours (NYSE:CC) last posted its quarterly earnings results on Thursday, November 6th. The specialty chemicals company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.04). The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.50 billion. Chemours had a positive return on equity of 35.27% and a negative net margin of 5.70%.The company’s revenue was down .9% compared to the same quarter last year. During the same period last year, the company posted $0.40 earnings per share. Research analysts expect that Chemours will post 2.03 EPS for the current fiscal year.

Chemours Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 14th will be given a dividend of $0.0875 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $0.35 annualized dividend and a yield of 2.7%. Chemours’s dividend payout ratio is -15.77%.

Hedge Funds Weigh In On Chemours

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Cooper Creek Partners Management LLC acquired a new stake in Chemours in the 3rd quarter valued at about $63,103,000. Millennium Management LLC lifted its position in shares of Chemours by 60.4% in the first quarter. Millennium Management LLC now owns 4,022,782 shares of the specialty chemicals company’s stock valued at $54,428,000 after buying an additional 1,515,520 shares during the last quarter. Scopia Capital Management LP boosted its stake in shares of Chemours by 71.7% during the 2nd quarter. Scopia Capital Management LP now owns 3,355,261 shares of the specialty chemicals company’s stock worth $38,418,000 after acquiring an additional 1,401,539 shares during the period. Vanguard Group Inc. increased its holdings in shares of Chemours by 8.3% during the 1st quarter. Vanguard Group Inc. now owns 16,487,008 shares of the specialty chemicals company’s stock worth $223,069,000 after acquiring an additional 1,263,047 shares during the last quarter. Finally, State Street Corp raised its stake in Chemours by 22.7% in the 2nd quarter. State Street Corp now owns 6,114,328 shares of the specialty chemicals company’s stock valued at $70,009,000 after acquiring an additional 1,131,682 shares during the period. 76.26% of the stock is 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.