The Chemours Company (NYSE:CC)’s stock price gapped down prior to trading on Friday following a dissappointing earnings announcement. The stock had previously closed at $35.47, but opened at $32.38. Chemours shares last traded at $30.65, with a volume of 40,532 shares trading hands. The specialty chemicals company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). Chemours had a net margin of 6.51% and a return on equity of 72.01%. The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same period last year, the company earned $0.61 earnings per share. The firm’s revenue was up 17.8% on a year-over-year basis.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 15th. Investors of record on Friday, February 25th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.25%. The ex-dividend date is Thursday, February 24th. Chemours’s payout ratio is 42.74%.
Several research analysts have recently weighed in on the company. Royal Bank of Canada boosted their target price on Chemours from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, November 8th. UBS Group lifted their price target on shares of Chemours from $34.00 to $36.00 and gave the company a “neutral” rating in a research report on Tuesday, January 4th. Finally, Zacks Investment Research lowered Chemours from a “strong-buy” rating to a “hold” rating and set a $37.00 target price on the stock. in a research report on Wednesday, January 5th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $39.89.
In other Chemours news, CFO Sameer Ralhan sold 17,482 shares of the company’s stock in a transaction on Thursday, December 2nd. The stock was sold at an average price of $29.85, for a total value of $521,837.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP David C. Shelton sold 9,886 shares of the company’s stock in a transaction on Thursday, December 2nd. The shares were sold at an average price of $29.74, for a total value of $294,009.64. The disclosure for this sale can be found here. Insiders have sold 127,336 shares of company stock worth $3,806,890 in the last ninety days. 2.78% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of CC. Sageworth Trust Co of South Dakota acquired a new stake in shares of Chemours during the fourth quarter valued at $26,000. Clearstead Advisors LLC grew its holdings in Chemours by 666.7% in the third quarter. Clearstead Advisors LLC now owns 920 shares of the specialty chemicals company’s stock valued at $27,000 after purchasing an additional 800 shares during the period. Old North State Trust LLC grew its holdings in Chemours by 58.7% in the fourth quarter. Old North State Trust LLC now owns 949 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 351 shares during the period. Massmutual Trust Co. FSB ADV grew its holdings in Chemours by 6,486.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 988 shares of the specialty chemicals company’s stock valued at $34,000 after purchasing an additional 973 shares during the period. Finally, Trust Co. of Vermont purchased a new stake in Chemours in the fourth quarter valued at approximately $34,000. 72.39% of the stock is currently owned by institutional investors and hedge funds.
The company has a quick ratio of 1.32, a current ratio of 1.89 and a debt-to-equity ratio of 3.83. The firm’s 50 day simple moving average is $33.48 and its 200-day simple moving average is $32.14. The company has a market capitalization of $5.01 billion, a PE ratio of 13.10, a P/E/G ratio of 0.28 and a beta of 1.98.
About Chemours (NYSE:CC)
The Chemours Co is a holding company that engages in the provision of performance chemicals. The firm delivers solutions, which include a range of industrial and chemical products for markets, including coatings, plastics, refrigeration and air conditioning, transportation, semiconductor and consumer electronics, general industrial, mining, and oil & gas.