Chemours (NYSE:CC) Sets New 1-Year High – Here’s Why

Shares of The Chemours Company (NYSE:CC) reached a new 52-week high during trading on Monday . The company traded as high as $27.86 and last traded at $27.3760, with a volume of 13158 shares. The stock had previously closed at $27.73.

Analyst Ratings Changes

A number of analysts recently commented on CC shares. The Goldman Sachs Group boosted their price objective on shares of Chemours from $14.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, February 25th. JPMorgan Chase & Co. upped their price target on shares of Chemours from $13.00 to $17.00 and gave the company a “neutral” rating in a report on Monday, February 23rd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Chemours in a report on Monday, April 20th. UBS Group upped their price target on shares of Chemours from $23.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, April 9th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $17.00 price target on shares of Chemours in a report on Monday, February 23rd. Five analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $20.70.

Chemours Stock Up 2.6%

The company has a debt-to-equity ratio of 16.33, a current ratio of 1.78 and a quick ratio of 0.85. The firm’s 50-day moving average is $20.96 and its 200 day moving average is $16.48. The stock has a market cap of $4.19 billion, a price-to-earnings ratio of -11.26 and a beta of 1.47.

Chemours (NYSE:CC) last issued its quarterly earnings results on Tuesday, May 5th. The specialty chemicals company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.10. Chemours had a negative net margin of 6.41% and a positive return on equity of 41.75%. The firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the business posted $0.13 earnings per share. Chemours’s revenue for the quarter was up 1.0% compared to the same quarter last year. Sell-side analysts anticipate that The Chemours Company will post 1.35 earnings per share for the current fiscal year.

Chemours Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were given a $0.0875 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a $0.35 annualized dividend and a dividend yield of 1.3%. Chemours’s dividend payout ratio is presently -14.11%.

Institutional Investors Weigh In On Chemours

Several large investors have recently made changes to their positions in CC. Cooper Creek Partners Management LLC acquired a new stake in shares of Chemours in the third quarter worth $63,103,000. Scopia Capital Management LP increased its position in shares of Chemours by 71.7% in the second 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 in the last quarter. State Street Corp increased its position 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 in the last quarter. Wolf Hill Capital Management LP acquired a new stake in shares of Chemours in the third quarter worth $17,025,000. Finally, Sona Asset Management US LLC increased its position in shares of Chemours by 176.9% in the fourth quarter. Sona Asset Management US LLC now owns 1,651,275 shares of the specialty chemicals company’s stock worth $19,469,000 after acquiring an additional 1,055,000 shares in the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.

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.