Chemours (NYSE:CC) Price Target Raised to $21.00 at Truist Financial

Chemours (NYSE:CC) had its target price boosted by Truist Financial from $18.00 to $21.00 in a report released on Wednesday morning, Marketbeat Ratings reports. Truist Financial currently has a buy rating on the specialty chemicals company’s stock.

Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. reduced their price target on Chemours from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 3rd. Royal Bank Of Canada reiterated an “outperform” rating and set a $18.00 target price on shares of Chemours in a research report on Friday, January 16th. Mizuho reduced their target price on Chemours from $19.00 to $18.00 and set an “outperform” rating on the stock in a report on Thursday, October 16th. Weiss Ratings restated a “sell (d)” rating on shares of Chemours in a research report on Wednesday, October 8th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $20.00 price target on shares of Chemours in a research note on Monday. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Chemours presently has a consensus rating of “Hold” and an average price target of $16.67.

Chemours Trading Up 6.3%

Shares of Chemours stock opened at $16.22 on Wednesday. The company has a debt-to-equity ratio of 13.66, a quick ratio of 0.88 and a current ratio of 1.71. The firm has a 50-day moving average of $12.72 and a 200-day moving average of $13.75. Chemours has a 52-week low of $9.13 and a 52-week high of $20.07. The stock has a market cap of $2.43 billion, a PE ratio of -7.30 and a beta of 1.61.

Chemours (NYSE:CC) last issued its quarterly earnings data on Thursday, November 6th. The specialty chemicals company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.04). Chemours had a positive return on equity of 35.27% and a negative net margin of 5.70%.The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the firm earned $0.40 EPS. Chemours’s revenue for the quarter was down .9% compared to the same quarter last year. As a group, sell-side analysts forecast that Chemours will post 2.03 EPS for the current year.

Chemours Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 14th were given a dividend of $0.0875 per share. This represents a $0.35 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Friday, November 14th. Chemours’s dividend payout ratio is currently -15.77%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CC. State Street Corp lifted its holdings in shares of Chemours by 22.7% in the second quarter. State Street Corp now owns 6,114,328 shares of the specialty chemicals company’s stock worth $70,009,000 after acquiring an additional 1,131,682 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Chemours by 13.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,796,153 shares of the specialty chemicals company’s stock valued at $75,971,000 after purchasing an additional 580,089 shares during the last quarter. UBS Group AG increased its position in Chemours by 0.3% during the 3rd quarter. UBS Group AG now owns 4,754,492 shares of the specialty chemicals company’s stock worth $75,311,000 after purchasing an additional 14,865 shares in the last quarter. Cooper Creek Partners Management LLC acquired a new position in Chemours during the 3rd quarter worth approximately $63,103,000. Finally, Geode Capital Management LLC lifted its stake in Chemours by 41.4% in the 2nd quarter. Geode Capital Management LLC now owns 3,484,416 shares of the specialty chemicals company’s stock valued at $39,901,000 after purchasing an additional 1,020,933 shares during the last quarter. Institutional investors own 76.26% of the company’s stock.

Chemours Company Profile

Chemours Company, established in 2015 as a spin-off from E. I. du Pont de Nemours and Company, is a global chemistry organization headquartered in Wilmington, Delaware. Since its formation, Chemours has focused on delivering performance chemicals that help customers lower their carbon footprint, increase energy efficiency and conserve water. The company operates with a commitment to safety, environmental stewardship and innovation.

Chemours’ principal business activities are organized into three core segments.