Chemours (NYSE:CC) Shares Gap Up - Still a Buy?

Shares of The Chemours Company (NYSE:CC - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $12.42, but opened at $13.09. Chemours shares last traded at $13.34, with a volume of 1,582,898 shares trading hands.

Wall Street Analyst Weigh In

CC has been the topic of a number of recent research reports. Morgan Stanley decreased their target price on Chemours from $22.00 to $15.00 and set an "equal weight" rating on the stock in a report on Monday, May 12th. Mizuho set a $15.00 price target on Chemours in a research report on Tuesday, April 15th. Royal Bank Of Canada lifted their price objective on Chemours from $14.00 to $15.00 and gave the company an "outperform" rating in a research report on Thursday, July 3rd. Truist Financial cut their price objective on Chemours from $27.00 to $22.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, 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 note on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $17.33.

Chemours Stock Down 1.7%

The company has a market cap of $2.07 billion, a PE ratio of 69.05 and a beta of 1.65. The company's 50 day moving average is $11.38 and its 200 day moving average is $13.96. The company has a current ratio of 1.75, a quick ratio of 0.83 and a debt-to-equity ratio of 7.01.

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

Chemours Dividend Announcement

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

Insider Activity

In other Chemours news, CFO Shane Hostetter acquired 4,450 shares of the business's 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 completion of the acquisition, the chief financial officer directly owned 59,694 shares in the company, valued at $673,348.32. This represents a 8.06% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Damian Gumpel purchased 13,400 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was bought at an average price of $9.22 per share, for a total transaction of $123,548.00. Following the completion of the acquisition, the insider directly owned 123,879 shares in the company, valued at approximately $1,142,164.38. This trade represents a 12.13% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 25,672 shares of company stock worth $251,573. 0.47% of the stock is owned by company insiders.

Institutional Investors Weigh In On Chemours

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. FNY Investment Advisers LLC acquired a new position in shares of Chemours during the first quarter worth $27,000. UMB Bank n.a. increased its position in Chemours by 73.9% during the 1st quarter. UMB Bank n.a. now owns 2,231 shares of the specialty chemicals company's stock valued at $30,000 after buying an additional 948 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Chemours by 170.7% in the first quarter. Farther Finance Advisors LLC now owns 2,290 shares of the specialty chemicals company's stock valued at $30,000 after buying an additional 1,444 shares during the last quarter. SouthState Corp purchased a new stake in shares of Chemours during the first quarter worth about $34,000. Finally, Quadrant Capital Group LLC raised its position in shares of Chemours by 100.4% in the 4th quarter. Quadrant Capital Group LLC now owns 2,234 shares of the specialty chemicals company's stock valued at $38,000 after purchasing an additional 1,119 shares during the last quarter. Hedge funds and other institutional investors own 76.26% of the company's stock.

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.