The Chemours Company (NYSE:CC) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• The Chemours Company is rated as a "Moderate Buy" by analysts, with an average 1-year price target of $17.3750.
• Insider Damian Gumpel purchased 7,822 shares of Chemours at an average price of $9.95, increasing his ownership by 6.31%.
• The company reported a 5.0% increase in quarterly revenue compared to the previous year, achieving $1.62 billion, while also announcing a dividend cut to $0.35 annually.

The Chemours Company (NYSE:CC - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the eight ratings firms that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $17.3750.

Several research firms have issued reports on CC. Truist Financial lowered their target price on shares of Chemours from $27.00 to $22.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. The Goldman Sachs Group lowered their price objective on shares of 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 lowered their price objective on shares of Chemours from $22.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Monday, May 12th. Royal Bank Of Canada raised their price objective on shares of Chemours from $14.00 to $15.00 and gave the company an "outperform" rating in a research report on Thursday, July 3rd. Finally, UBS Group lowered their price objective on shares of Chemours from $18.00 to $17.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th.

Insiders Place Their Bets

In other news, insider Damian Gumpel purchased 7,822 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were acquired at an average price of $9.95 per share, with a total value of $77,828.90. Following the acquisition, the insider directly 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 document filed with the SEC, which is available at the SEC website. Also, CFO Shane Hostetter purchased 4,450 shares of the business's stock in a transaction on Monday, May 19th. The stock was purchased at an average cost of $11.28 per share, for a total transaction of $50,196.00. Following the acquisition, the chief financial officer owned 59,694 shares in the company, valued at approximately $673,348.32. The trade was a 8.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders acquired 25,672 shares of company stock worth $251,573. Insiders own 0.34% of the company's stock.

Institutional Investors Weigh In On Chemours

A number of large investors have recently added to or reduced their stakes in CC. FNY Investment Advisers LLC bought a new stake in shares of Chemours during the 1st quarter valued at about $27,000. UMB Bank n.a. boosted its stake in shares of 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 purchasing an additional 948 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Chemours by 170.7% during the 1st quarter. Farther Finance Advisors LLC now owns 2,290 shares of the specialty chemicals company's stock valued at $30,000 after purchasing an additional 1,444 shares in the last quarter. MTM Investment Management LLC bought a new stake in shares of Chemours during the 2nd quarter valued at about $27,000. Finally, SouthState Corp bought a new stake in shares of Chemours during the 1st quarter valued at about $34,000. Institutional investors own 76.26% of the company's stock.

Chemours Stock Up 0.1%

CC opened at $12.19 on Monday. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of -4.35 and a beta of 1.61. The company has a quick ratio of 0.83, a current ratio of 1.68 and a debt-to-equity ratio of 17.16. The company's 50-day moving average price is $12.22 and its two-hundred day moving average price is $13.20. Chemours has a twelve month low of $9.13 and a twelve month high of $22.38.

Chemours (NYSE:CC - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The specialty chemicals company reported $0.58 EPS for the quarter, beating analysts' consensus estimates of $0.46 by $0.12. Chemours had a negative net margin of 7.19% and a positive return on equity of 35.14%. The company had revenue of $1.62 billion for the quarter, compared to analysts' expectations of $1.57 billion. During the same period in the prior year, the company posted $0.38 EPS. Chemours's revenue was up 5.0% compared to the same quarter last year. As a group, equities analysts expect that Chemours will post 2.03 earnings per share for the current year.

Chemours Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 15th will be issued a dividend of $0.0875 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.35 annualized dividend and a dividend yield of 2.9%. Chemours's dividend payout ratio (DPR) is currently -12.50%.

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.

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