Chemours (NYSE:CC) Shares Gap Down - What's Next?

The Chemours Company (NYSE:CC - Get Free Report)'s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $10.74, but opened at $10.49. Chemours shares last traded at $10.92, with a volume of 456,257 shares changing hands.

Analyst Ratings Changes

A number of research firms recently commented on CC. BMO Capital Markets decreased their price objective on Chemours from $34.00 to $27.00 and set an "outperform" rating on the stock in a report on Wednesday, February 19th. Royal Bank Of Canada lowered their price target on Chemours from $17.00 to $14.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. Mizuho set a $15.00 price objective on Chemours in a research report on Tuesday, April 15th. Barclays decreased their target price 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. Finally, The Goldman Sachs Group decreased their price objective on shares of Chemours from $21.00 to $14.00 and set a "neutral" rating on the stock in a report on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, Chemours has an average rating of "Hold" and a consensus price target of $17.22.

Chemours Trading Up 4.8%

The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 56.36 and a beta of 1.64. The business has a 50-day moving average of $11.25 and a 200-day moving average of $14.84. The company has a debt-to-equity ratio of 7.01, a quick ratio of 0.83 and a current ratio of 1.75.

Chemours (NYSE:CC - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The specialty chemicals company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.06). Chemours had a net margin of 0.54% and a return on equity of 23.82%. The business had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.36 billion. During the same quarter last year, the company earned $0.32 EPS. The firm's revenue for the quarter was up .4% compared to the same quarter last year. As a group, research analysts forecast that The Chemours Company will post 2.03 EPS for the current year.

Chemours Dividend Announcement

The business also recently declared a dividend, which was paid on Monday, June 16th. Investors of record on Monday, May 19th were issued a dividend of $0.0875 per share. This represents a dividend yield of 3.17%. The ex-dividend date was Friday, May 16th. Chemours's dividend payout ratio is presently 175.00%.

Insiders Place Their Bets

In other Chemours news, CFO Shane Hostetter purchased 4,450 shares of Chemours stock in a transaction dated Monday, May 19th. The stock was acquired 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 of the company's stock, valued at $673,348.32. This represents a 8.06% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Damian Gumpel acquired 7,822 shares of the business's stock in a transaction on Tuesday, June 3rd. The stock was acquired at an average price 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 disclosure for this purchase can be found here. In the last quarter, insiders bought 25,672 shares of company stock worth $251,573. 0.34% of the stock is owned by insiders.

Institutional Investors Weigh In On Chemours

Institutional investors and hedge funds have recently modified their holdings of the company. Inspire Investing LLC lifted its position in shares of Chemours by 5.7% in the first quarter. Inspire Investing LLC now owns 25,156 shares of the specialty chemicals company's stock valued at $340,000 after acquiring an additional 1,357 shares in the last quarter. Empowered Funds LLC purchased a new stake in Chemours during the first quarter valued at about $403,000. Petrus Trust Company LTA acquired a new position in Chemours during the first quarter valued at approximately $198,000. Millennium Management LLC boosted its position in Chemours by 60.4% during the 1st quarter. Millennium Management LLC now owns 4,022,782 shares of the specialty chemicals company's stock worth $54,428,000 after purchasing an additional 1,515,520 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Chemours by 149.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,243 shares of the specialty chemicals company's stock valued at $593,000 after buying an additional 25,899 shares during the period. Institutional investors and hedge funds own 76.26% of the company's stock.

About Chemours

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.

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