Chemours (NYSE:CC) Shares Up 6.4% - Time to Buy?

The Chemours Company (NYSE:CC - Get Free Report) shares were up 6.4% during trading on Thursday . The company traded as high as $14.48 and last traded at $14.65. Approximately 732,148 shares were traded during trading, a decline of 79% from the average daily volume of 3,420,500 shares. The stock had previously closed at $13.77.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CC. Wall Street Zen lowered Chemours from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Mizuho set a $15.00 target price on Chemours in a research report on Tuesday, April 15th. The Goldman Sachs Group dropped their target price on Chemours from $21.00 to $14.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 14th. Morgan Stanley dropped their target price on Chemours from $22.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Monday, May 12th. Finally, Barclays dropped their target price on 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 research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Chemours presently has a consensus rating of "Hold" and an average price target of $17.33.

Chemours Price Performance

The company has a market capitalization of $2.07 billion, a P/E ratio of 69.05 and a beta of 1.65. The company has a fifty day moving average price of $11.36 and a 200 day moving average price of $13.99. The company has a debt-to-equity ratio of 7.01, a current ratio of 1.75 and a quick ratio of 0.83.

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

Chemours Announces Dividend

The firm also recently announced a dividend, which was paid on Monday, June 16th. Stockholders 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%.

Insiders Place Their Bets

In other news, insider Damian Gumpel acquired 7,822 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was acquired at an average cost of $9.95 per share, for a total transaction of $77,828.90. Following the completion of the acquisition, the insider owned 131,701 shares in the company, valued at approximately $1,310,424.95. The trade was a 6.31% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Shane Hostetter bought 4,450 shares of the business's stock in a transaction on Monday, May 19th. The shares were bought at an average price of $11.28 per share, for a total transaction of $50,196.00. Following the completion of the acquisition, the chief financial officer owned 59,694 shares of the company's stock, valued at approximately $673,348.32. This represents a 8.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 25,672 shares of company stock valued at $251,573 in the last 90 days. Corporate insiders own 0.47% of the company's stock.

Institutional Investors Weigh In On Chemours

Hedge funds and other institutional investors have recently made changes to their positions in the business. FNY Investment Advisers LLC acquired a new stake in Chemours during the first quarter valued at approximately $27,000. UMB Bank n.a. raised its stake in shares of Chemours by 73.9% in the first quarter. UMB Bank n.a. now owns 2,231 shares of the specialty chemicals company's stock valued at $30,000 after acquiring an additional 948 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of 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 acquiring an additional 1,444 shares during the last quarter. SouthState Corp bought a new position in Chemours in the 1st quarter worth approximately $34,000. Finally, Quadrant Capital Group LLC raised its position in Chemours by 100.4% in the 4th quarter. Quadrant Capital Group LLC now owns 2,234 shares of the specialty chemicals company's stock worth $38,000 after purchasing an additional 1,119 shares during the last quarter. 76.26% of the stock is 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.