Chemours (NYSE:CC) Stock Price Up 7% - Here's What Happened

Key Points

• Chemours' stock rose 7%, reaching $12.30, despite a significant drop in trading volume compared to its average.
• Multiple analysts have adjusted their ratings and price targets for Chemours, with Royal Bank of Canada increasing its target from $14.00 to $15.00 and Mizuho from $13.00 to $16.00 while other firms, including UBS Group, have reduced their targets.
• The company recently paid a $0.0875 dividend to shareholders, which translates to a substantial dividend yield of 317.0%, although it also carries a payout ratio of 175.00%.

The Chemours Company (NYSE:CC - Get Free Report) shares rose 7% during trading on Monday . The company traded as high as $12.31 and last traded at $12.30. Approximately 546,432 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 3,447,663 shares. The stock had previously closed at $11.50.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CC. Royal Bank Of Canada boosted their price target on Chemours from $14.00 to $15.00 and gave the stock an "outperform" rating in a research note on Thursday, July 3rd. Wall Street Zen cut Chemours from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Mizuho boosted their price target on Chemours from $13.00 to $16.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. UBS Group decreased their price target on Chemours from $18.00 to $17.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Finally, Truist Financial decreased their price target on Chemours from $27.00 to $22.00 and set a "buy" rating for the company in a research note on Monday, April 14th. 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, the stock currently has a consensus rating of "Hold" and an average target price of $17.44.

Chemours Stock Up 7.3%

The company has a fifty day simple moving average of $12.02 and a 200-day simple moving average of $13.46. The company has a quick ratio of 0.83, a current ratio of 1.75 and a debt-to-equity ratio of 7.01. The firm has a market cap of $1.85 billion, a P/E ratio of 61.68 and a beta of 1.61.

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

Chemours Announces Dividend

The firm also recently disclosed a dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, May 19th were given a $0.0875 dividend. This represents a dividend yield of 317.0%. The ex-dividend date was Friday, May 16th. Chemours's payout ratio is presently 175.00%.

Insider Activity

In other news, CFO Shane Hostetter bought 4,450 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The shares were bought at an average cost of $11.28 per share, for a total transaction of $50,196.00. Following the completion of the transaction, 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 purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Damian Gumpel bought 13,400 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was purchased at an average price of $9.22 per share, for a total transaction of $123,548.00. Following the completion of the transaction, the insider directly owned 123,879 shares of the company's stock, valued at $1,142,164.38. This represents a 12.13% increase in their position. The disclosure for this purchase can be found here. Insiders bought 25,672 shares of company stock worth $251,573 over the last 90 days. Company insiders own 0.34% of the company's stock.

Hedge Funds Weigh In On Chemours

Large investors have recently modified their holdings of the stock. FNY Investment Advisers LLC bought a new position in Chemours in the first quarter worth approximately $27,000. UMB Bank n.a. grew its stake in Chemours by 73.9% in the first quarter. UMB Bank n.a. now owns 2,231 shares of the specialty chemicals company's stock worth $30,000 after purchasing an additional 948 shares in the last quarter. Quadrant Capital Group LLC grew its stake in Chemours by 100.4% in the fourth 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 in the last quarter. Farther Finance Advisors LLC grew 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 worth $30,000 after purchasing an additional 1,444 shares in the last quarter. Finally, SouthState Corp bought a new stake in Chemours during the 1st quarter valued at $34,000. 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.

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