Chemours (NYSE:CC) Shares Cross Below 50-Day Moving Average - Time to Sell?

Key Points

• Chemours shares fell below their 50-day moving average, trading as low as $14.64 versus a 50-day average of $15.81. The stock remains below its 200-day average of $19.48, signaling continued technical weakness.
• Analysts have an overall “Hold” consensus with an average price target of $20.10, although several firms recently cut their targets. Chemours also missed quarterly earnings and revenue expectations, reporting $0.42 in EPS and $1.59 billion in revenue.
• The company maintains a quarterly dividend of $0.0875 per share, equal to a 2.4% annualized yield. Meanwhile, insiders purchased shares recently, including acquisitions by the CFO and another insider.

The Chemours Company (NYSE:CC - Get Free Report) crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $15.81 and traded as low as $14.64. Chemours shares last traded at $14.7420, with a volume of 1,053,872 shares traded.

Analyst Ratings Changes

A number of research firms have recently commented on CC. UBS Group reaffirmed a "neutral" rating and set a $18.00 target price (down from $29.00) on shares of Chemours in a research note on Monday, August 10th. Truist Financial decreased their price target on Chemours from $30.00 to $24.00 and set a "buy" rating for the company in a research note on Thursday, August 6th. The Goldman Sachs Group restated a "neutral" rating and set a $17.00 price objective on shares of Chemours in a report on Thursday, August 13th. Mizuho set a $22.00 price objective on Chemours in a research report on Wednesday, August 5th. Finally, Weiss Ratings lowered Chemours from a "sell (d)" rating to a "sell (d-)" rating in a research note on Thursday, August 6th. Five investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $20.10.

Chemours Price Performance

The stock's 50 day simple moving average is $15.81 and its 200 day simple moving average is $19.48. The company has a debt-to-equity ratio of 18.98, a quick ratio of 0.88 and a current ratio of 1.66. The firm has a market capitalization of $2.22 billion, a P/E ratio of -7.72 and a beta of 1.42.

Chemours (NYSE:CC - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The specialty chemicals company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.07). The firm had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.65 billion. Chemours had a positive return on equity of 60.64% and a negative net margin of 5.00%.The company's revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($2.54) earnings per share. As a group, analysts expect that The Chemours Company will post 0.87 earnings per share for the current fiscal year.

Chemours Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th were given a dividend of $0.0875 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $0.35 dividend on an annualized basis and a yield of 2.4%. Chemours's dividend payout ratio (DPR) is -18.32%.

Insider Buying and Selling at Chemours

In other Chemours news, insider Calderon Gerardo Familiar acquired 1,935 shares of the company's stock in a transaction dated Wednesday, August 12th. The shares were purchased at an average cost of $15.53 per share, for a total transaction of $30,050.55. Following the completion of the purchase, the insider owned 58,547 shares in the company, valued at approximately $909,234.91. This trade represents a 3.42% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Shane Hostetter acquired 3,350 shares of the business's stock in a transaction that occurred on Thursday, August 6th. The shares were acquired at an average cost of $14.94 per share, for a total transaction of $50,049.00. Following the completion of the acquisition, the chief financial officer owned 102,698 shares of the company's stock, valued at $1,534,308.12. This trade represents a 3.37% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have acquired 8,663 shares of company stock valued at $130,601. Company insiders own 0.85% of the company's stock.

Institutional Investors Weigh In On Chemours

Hedge funds have recently made changes to their positions in the stock. Eurizon Capital SGR S.p.A. bought a new position in shares of Chemours during the 4th quarter worth approximately $31,000. Covestor Ltd boosted its stake in Chemours by 204.7% in the fourth quarter. Covestor Ltd now owns 2,602 shares of the specialty chemicals company's stock valued at $31,000 after acquiring an additional 1,748 shares in the last quarter. Rothschild Investment LLC grew its holdings in Chemours by 87.0% in the fourth quarter. Rothschild Investment LLC now owns 2,698 shares of the specialty chemicals company's stock worth $32,000 after purchasing an additional 1,255 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in Chemours in the second quarter worth $34,000. Finally, Allworth Financial LP acquired a new position in shares of Chemours during the second quarter worth $51,000. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

About Chemours

The Chemours Company NYSE: CC is a global chemistry company headquartered in Wilmington, Delaware. Formed in 2015 through a spin-off from DuPont, Chemours develops and manufactures chemical products used in industries including transportation, electronics, energy, construction, and consumer goods.

The company operates through businesses focused on thermal and specialized solutions, titanium technologies, and advanced performance materials. Its products include refrigerants and heat-transfer fluids, titanium dioxide pigments used to provide whiteness and opacity in coatings, plastics, and paper, as well as fluoropolymers, specialty fluids, and other performance materials used in demanding industrial applications.

Chemours serves customers in North America, Latin America, Europe, the Asia-Pacific region, and other international markets through manufacturing facilities, research and development operations, and commercial activities around the world.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.