Chemours (NYSE:CC) Stock Price Up 6.8% on Analyst Upgrade

The Chemours Company (NYSE:CC) traded up 6.8% during mid-day trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $13.00 to $17.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Chemours traded as high as $18.11 and last traded at $18.2050. 2,102,951 shares changed hands during trading, a decline of 41% from the average session volume of 3,545,893 shares. The stock had previously closed at $17.04.

Several other brokerages have also weighed in on CC. Truist Financial lifted their price objective on Chemours from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, January 21st. BMO Capital Markets set a $19.00 price target on shares of Chemours and gave the company an “outperform” rating in a research report on Monday. Morgan Stanley upped their price target on shares of Chemours from $15.00 to $17.00 and gave the company an “equal weight” rating in a research note on Monday. Mizuho set a $17.00 price objective on shares of Chemours in a research note on Monday. Finally, UBS Group reissued a “buy” rating and set a $23.00 target price on shares of Chemours in a report on Monday. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Chemours currently has an average rating of “Hold” and an average target price of $17.67.

Institutional Investors Weigh In On Chemours

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Atlas Capital Advisors Inc. bought a new position in shares of Chemours in the 4th quarter worth approximately $26,000. MTM Investment Management LLC purchased a new stake in Chemours in the second quarter valued at about $27,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Chemours during the fourth quarter worth about $28,000. Covestor Ltd grew its position in shares of Chemours by 204.7% during the 4th quarter. Covestor Ltd now owns 2,602 shares of the specialty chemicals company’s stock valued at $31,000 after acquiring an additional 1,748 shares during the period. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in Chemours during the 4th quarter worth $31,000. 76.26% of the stock is currently owned by institutional investors.

Chemours Price Performance

The company has a market cap of $2.73 billion, a price-to-earnings ratio of -7.34 and a beta of 1.63. The stock has a 50 day simple moving average of $15.24 and a two-hundred day simple moving average of $14.47. The company has a debt-to-equity ratio of 16.33, a current ratio of 1.78 and a quick ratio of 0.85.

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

Chemours Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be given a dividend of $0.0875 per share. This represents a $0.35 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, February 27th. Chemours’s dividend payout ratio (DPR) is currently -14.11%.

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.