Chemours (NYSE:CC) Sets New 52-Week High – Here’s Why

Shares of The Chemours Company (NYSE:CC) hit a new 52-week high during trading on Friday . The stock traded as high as $21.86 and last traded at $21.85, with a volume of 60192 shares changing hands. The stock had previously closed at $21.58.

Analyst Upgrades and Downgrades

CC has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of Chemours from $13.00 to $17.00 and gave the stock a “neutral” rating in a report on Monday, February 23rd. Morgan Stanley increased their price objective on shares of Chemours from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Monday, February 23rd. UBS Group lifted their target price on shares of Chemours from $18.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, February 23rd. Jefferies Financial Group restated a “hold” rating and issued a $17.00 target price on shares of Chemours in a report on Monday, February 23rd. Finally, Mizuho upped their price target on shares of Chemours from $17.00 to $21.00 and gave the company an “outperform” rating in a research report on Thursday, March 5th. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $18.40.

Chemours Trading Up 0.2%

The business has a 50 day moving average of $18.00 and a two-hundred day moving average of $15.12. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of -8.72 and a beta of 1.60. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.85 and a current ratio of 1.78.

Chemours (NYSE:CC) last announced its quarterly earnings data on Thursday, February 19th. The specialty chemicals company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. Chemours had a positive return on equity of 41.75% and a negative net margin of 6.41%.The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter last year, the firm posted $0.09 earnings per share. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. Equities analysts predict that The Chemours Company will post 2.03 EPS for the current year.

Chemours Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were paid a dividend of $0.0875 per share. This represents a $0.35 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Friday, February 27th. Chemours’s payout ratio is -14.11%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Oregon Public Employees Retirement Fund grew its holdings in shares of Chemours by 1.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 34,300 shares of the specialty chemicals company’s stock valued at $404,000 after buying an additional 600 shares during the last quarter. Amalgamated Bank raised its holdings in shares of Chemours by 1.7% in the 3rd quarter. Amalgamated Bank now owns 43,528 shares of the specialty chemicals company’s stock worth $689,000 after acquiring an additional 740 shares during the last quarter. PFG Investments LLC lifted its position in Chemours by 7.6% in the 4th quarter. PFG Investments LLC now owns 12,494 shares of the specialty chemicals company’s stock valued at $147,000 after acquiring an additional 883 shares in the last quarter. State of Alaska Department of Revenue lifted its position in Chemours by 1.2% in the 4th quarter. State of Alaska Department of Revenue now owns 76,257 shares of the specialty chemicals company’s stock valued at $899,000 after acquiring an additional 932 shares in the last quarter. Finally, Man Group plc boosted its stake in Chemours by 0.4% during the 2nd quarter. Man Group plc now owns 271,108 shares of the specialty chemicals company’s stock valued at $3,104,000 after purchasing an additional 979 shares during the last quarter. 76.26% of the stock is owned by institutional investors.

About Chemours

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.