Chemours (NYSE:CC) Shares Gap Down - Should You Sell?

The Chemours Company (NYSE:CC - Get Free Report)'s share 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 traded.

Analysts Set New Price Targets

A number of brokerages have weighed in on CC. Royal Bank Of Canada decreased their price objective on shares of Chemours from $17.00 to $14.00 and set an "outperform" rating for the company in a research report on Thursday, May 8th. Barclays reduced their price target on shares of Chemours from $16.00 to $13.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 28th. Wall Street Zen downgraded shares of Chemours from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Mizuho set a $15.00 price objective on shares of Chemours in a report on Tuesday, April 15th. Finally, UBS Group cut their price objective on shares of Chemours from $18.00 to $17.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Chemours presently has an average rating of "Hold" and an average target price of $17.22.

Chemours Stock Performance

The firm's 50 day moving average price is $11.22 and its two-hundred day moving average price is $14.67. The company has a debt-to-equity ratio of 7.01, a quick ratio of 0.83 and a current ratio of 1.75. The firm has a market cap of $1.61 billion, a PE ratio of 53.75 and a beta of 1.64.

Chemours (NYSE:CC - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The specialty chemicals company reported $0.13 earnings per share 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 firm had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.36 billion. During the same period last year, the company earned $0.32 EPS. The business's quarterly revenue was up .4% on a year-over-year basis. On average, research analysts forecast that The Chemours Company will post 2.03 earnings per share for the current year.

Chemours Dividend Announcement

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

Insiders Place Their Bets

In related news, CFO Shane Hostetter purchased 4,450 shares of the business's stock in a transaction that occurred on Monday, May 19th. The shares were purchased at an average cost of $11.28 per share, for a total transaction of $50,196.00. Following the purchase, the chief financial officer now directly owns 59,694 shares of the company's stock, valued at $673,348.32. The trade was a 8.06% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Damian Gumpel purchased 13,400 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were bought at an average price of $9.22 per share, for a total transaction of $123,548.00. Following the completion of the purchase, the insider now directly owns 123,879 shares in the company, valued at $1,142,164.38. This represents a 12.13% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 25,672 shares of company stock worth $251,573 in the last ninety days. 0.47% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Chemours

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new position in Chemours during the 4th quarter worth $30,702,000. Millennium Management LLC grew 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 last quarter. Vanguard Group Inc. grew its position in Chemours by 8.3% during the 1st quarter. Vanguard Group Inc. now owns 16,487,008 shares of the specialty chemicals company's stock worth $223,069,000 after purchasing an additional 1,263,047 shares during the last quarter. Bank of Montreal Can grew its position in Chemours by 1,496.4% during the 4th quarter. Bank of Montreal Can now owns 953,240 shares of the specialty chemicals company's stock worth $16,110,000 after purchasing an additional 893,530 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in Chemours by 23.8% during the 4th quarter. Ameriprise Financial Inc. now owns 4,373,172 shares of the specialty chemicals company's stock worth $73,907,000 after purchasing an additional 839,849 shares during the last quarter. 76.26% of the stock is currently owned by institutional investors and hedge funds.

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.