Chemours (NYSE:CC) Sets New 12-Month Low - Here's What Happened

The Chemours Company (NYSE:CC - Get Free Report) reached a new 52-week low on Tuesday . The stock traded as low as $9.13 and last traded at $9.41, with a volume of 6642578 shares traded. The stock had previously closed at $10.13.

Analyst Ratings Changes

CC has been the subject of a number of recent research reports. Wall Street Zen lowered Chemours from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. BMO Capital Markets cut their target price on shares of Chemours from $34.00 to $27.00 and set an "outperform" rating on the stock in a report on Wednesday, February 19th. Mizuho set a $15.00 price target on shares of Chemours in a research report on Tuesday, April 15th. The Goldman Sachs Group cut their price target on Chemours from $21.00 to $14.00 and set a "neutral" rating on the stock in a report on Wednesday, May 14th. Finally, Barclays dropped their price target on shares of Chemours from $16.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $17.22.

Chemours Price Performance

The company has a market cap of $1.59 billion, a price-to-earnings ratio of 18.65 and a beta of 1.76. The company has a current ratio of 1.68, a quick ratio of 0.92 and a debt-to-equity ratio of 6.70. The company has a fifty day moving average price of $11.30 and a two-hundred day moving average price of $15.49.

Chemours (NYSE:CC - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The specialty chemicals company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.06). The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. Chemours had a return on equity of 26.54% and a net margin of 1.51%. The business's revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.32 earnings per share. As a group, equities research analysts anticipate that The Chemours Company will post 2.03 EPS for the current fiscal year.

Chemours Announces Dividend

The firm also recently declared a dividend, which will be paid on Monday, June 16th. Investors of record on Monday, May 19th will be paid a dividend of $0.0875 per share. This represents a dividend yield of 3.17%. The ex-dividend date is Friday, May 16th. Chemours's dividend payout ratio (DPR) is 175.00%.

Insider Activity

In other Chemours news, insider Damian Gumpel purchased 7,822 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were purchased at an average cost of $9.95 per share, with a total value of $77,828.90. Following the transaction, the insider now directly owns 131,701 shares of the company's stock, valued at $1,310,424.95. This represents a 6.31% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Shane Hostetter bought 4,450 shares of Chemours stock in a transaction that occurred on Monday, May 19th. The shares were bought at an average cost of $11.28 per share, with a total value of $50,196.00. Following the acquisition, the chief financial officer now directly owns 59,694 shares in the company, valued at $673,348.32. This trade represents a 8.06% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 25,672 shares of company stock valued at $251,573 in the last ninety days. 0.47% of the stock is owned by insiders.

Hedge Funds Weigh In On Chemours

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Chemours by 8.3% in the first quarter. Vanguard Group Inc. now owns 16,487,008 shares of the specialty chemicals company's stock valued at $223,069,000 after buying an additional 1,263,047 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Chemours by 23.8% in the fourth quarter. Ameriprise Financial Inc. now owns 4,373,172 shares of the specialty chemicals company's stock valued at $73,907,000 after buying an additional 839,849 shares during the period. Millennium Management LLC boosted its stake in Chemours by 60.4% during the first quarter. Millennium Management LLC now owns 4,022,782 shares of the specialty chemicals company's stock worth $54,428,000 after acquiring an additional 1,515,520 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Chemours by 17.5% in the 1st quarter. American Century Companies Inc. now owns 1,909,149 shares of the specialty chemicals company's stock valued at $25,831,000 after buying an additional 284,130 shares during the period. Finally, Norges Bank acquired a new stake in Chemours in the fourth quarter valued at approximately $30,702,000. 76.26% of the stock is owned by institutional investors.

Chemours Company Profile

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.