Chemours (NYSE:CC) Upgraded by BMO Capital Markets to "Outperform"

BMO Capital Markets upgraded shares of Chemours (NYSE:CC - Free Report) from an underperform rating to an outperform rating in a research report released on Tuesday morning, Marketbeat reports. BMO Capital Markets currently has $34.00 price target on the specialty chemicals company's stock, up from their prior price target of $19.00.

A number of other analysts have also recently issued reports on CC. Barclays cut their price objective on Chemours from $32.00 to $30.00 and set an equal weight rating for the company in a research report on Tuesday, April 2nd. UBS Group lifted their price target on Chemours from $21.00 to $28.00 and gave the stock a neutral rating in a report on Tuesday, April 2nd. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $30.89.

Chemours Stock Performance

Shares of CC traded up $1.11 during mid-day trading on Tuesday, reaching $28.16. The company's stock had a trading volume of 1,175,528 shares, compared to its average volume of 1,997,949. Chemours has a 1-year low of $15.10 and a 1-year high of $39.05. The stock has a market cap of $4.19 billion, a P/E ratio of -17.95 and a beta of 2.00. The business has a 50-day simple moving average of $27.54 and a two-hundred day simple moving average of $27.89. The company has a current ratio of 1.54, a quick ratio of 1.00 and a debt-to-equity ratio of 5.40.

Chemours Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, February 26th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, February 23rd. This represents a $1.00 dividend on an annualized basis and a yield of 3.55%. Chemours's dividend payout ratio (DPR) is presently -64.52%.

Hedge Funds Weigh In On Chemours

A number of hedge funds have recently added to or reduced their stakes in CC. Hexagon Capital Partners LLC bought a new position in shares of Chemours in the 4th quarter valued at $25,000. Legacy Financial Group LLC bought a new position in shares of Chemours in the 3rd quarter valued at $29,000. Garner Asset Management Corp bought a new position in shares of Chemours in the 4th quarter valued at $29,000. Morton Brown Family Wealth LLC bought a new position in shares of Chemours in the 4th quarter valued at $35,000. Finally, Neo Ivy Capital Management bought a new position in shares of Chemours in the 4th quarter valued at $40,000. 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.