Chemours (NYSE:CC) Sets New 52-Week High - What's Next?

Key Points

• Chemours reached a new 52-week high intraday at $27.86 and was last trading around $27.38 on a volume of roughly 13,158 shares, with a market capitalization of about $4.13 billion.
• Analysts are mixed: several firms have raised price targets (Truist to $30), but the consensus rating is Hold with an average price target of $20.70, below the current share price.
• On fundamentals, Chemours beat quarterly EPS estimates ($0.05 vs. $0.01) despite a negative net margin (-6.41%); it pays a quarterly dividend of $0.0875 (annualized yield ~1.3%) and roughly 76% of shares are institutionally held.

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

Analyst Ratings Changes

CC has been the subject of a number of recent research reports. Mizuho boosted their price objective on shares of Chemours from $17.00 to $21.00 and gave the company an "outperform" rating in a report on Thursday, March 5th. Weiss Ratings reissued a "sell (d)" rating on shares of Chemours in a report on Monday, April 20th. BMO Capital Markets cut their price objective on shares of Chemours from $20.00 to $19.00 and set an "outperform" rating for the company in a report on Monday, February 23rd. The Goldman Sachs Group boosted their price objective on shares of Chemours from $14.00 to $18.00 and gave the company a "neutral" rating in a report on Wednesday, February 25th. Finally, Truist Financial boosted their price objective on shares of Chemours from $27.00 to $30.00 and gave the company a "buy" rating in a report on Tuesday, April 28th. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $20.70.

Chemours Trading Down 0.9%

The business's 50 day moving average price is $20.74 and its two-hundred day moving average price is $16.38. The company has a current ratio of 1.78, a quick ratio of 0.85 and a debt-to-equity ratio of 16.33. The company has a market capitalization of $4.13 billion, a price-to-earnings ratio of -11.08 and a beta of 1.47.

Chemours (NYSE:CC - Get Free Report) last posted its quarterly earnings results on Thursday, February 19th. The specialty chemicals company reported $0.05 earnings per share for the quarter, beating analysts' consensus estimates of $0.01 by $0.04. Chemours had a negative net margin of 6.41% and a positive return on equity of 41.75%. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period last year, the company posted $0.09 EPS. The firm's quarterly revenue was down 2.2% compared to the same quarter last year. On average, equities analysts predict that The Chemours Company will post 1.35 earnings per share for the current fiscal year.

Chemours Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were paid a $0.0875 dividend. This represents a $0.35 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Friday, February 27th. Chemours's dividend payout ratio (DPR) is presently -14.11%.

Institutional Investors Weigh In On Chemours

A number of hedge funds have recently made changes to their positions in CC. Cooper Creek Partners Management LLC acquired a new stake in Chemours during the 3rd quarter worth approximately $63,103,000. Scopia Capital Management LP boosted its position in Chemours by 71.7% during the 2nd quarter. Scopia Capital Management LP now owns 3,355,261 shares of the specialty chemicals company's stock worth $38,418,000 after buying an additional 1,401,539 shares during the period. State Street Corp boosted its position in Chemours by 22.7% during the 2nd quarter. State Street Corp now owns 6,114,328 shares of the specialty chemicals company's stock worth $70,009,000 after buying an additional 1,131,682 shares during the period. Wolf Hill Capital Management LP acquired a new stake in Chemours during the 3rd quarter worth approximately $17,025,000. Finally, Sona Asset Management US LLC boosted its position in Chemours by 176.9% during the 4th quarter. Sona Asset Management US LLC now owns 1,651,275 shares of the specialty chemicals company's stock worth $19,469,000 after buying an additional 1,055,000 shares during the period. 76.26% of the stock is currently owned by institutional investors and hedge funds.

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.

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