An issue of Chemours Company (The) (NYSE:CC) bonds rose 2.4% as a percentage of their face value during trading on Thursday. The high-yield issue of debt has a 5.375% coupon and is set to mature on May 15, 2027. The bonds in the issue are now trading at $106.40 and were trading at $104.50 last week. Price changes in a company’s bonds in credit markets sometimes predict parallel changes in its share price.
A number of equities research analysts have weighed in on CC shares. Argus reaffirmed a “buy” rating and set a $55.00 price objective (up from $50.00) on shares of Chemours in a report on Thursday, August 10th. BidaskClub downgraded Chemours from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Zacks Investment Research downgraded Chemours from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 12th. UBS lifted their price objective on Chemours from $50.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. Finally, Barclays lifted their price objective on Chemours from $55.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, November 6th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Chemours currently has a consensus rating of “Buy” and a consensus price target of $57.89.
Chemours Company (CC) traded up $1.58 during mid-day trading on Thursday, reaching $47.93. 2,641,111 shares of the company traded hands, compared to its average volume of 2,773,002. The company has a quick ratio of 1.63, a current ratio of 2.19 and a debt-to-equity ratio of 5.07. Chemours Company has a 1 year low of $20.76 and a 1 year high of $58.08. The company has a market cap of $8,800.00 and a PE ratio of 17.48.
Chemours (NYSE:CC) last posted its quarterly earnings data on Thursday, November 2nd. The specialty chemicals company reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.11. Chemours had a net margin of 4.86% and a return on equity of 116.80%. The firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter in the previous year, the company posted $0.61 EPS. Chemours’s revenue was up 13.3% on a year-over-year basis. equities research analysts anticipate that Chemours Company will post 3.65 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, February 15th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Wednesday, February 14th. This is a boost from Chemours’s previous quarterly dividend of $0.03. Chemours’s payout ratio is 8.28%.
Chemours announced that its Board of Directors has approved a stock repurchase plan on Friday, December 1st that allows the company to buyback $500.00 million in shares. This buyback authorization allows the specialty chemicals company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.
In other Chemours news, SVP David C. Shelton sold 19,000 shares of the company’s stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $53.68, for a total transaction of $1,019,920.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP David C. Shelton sold 13,397 shares of the company’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $55.00, for a total transaction of $736,835.00. The disclosure for this sale can be found here. Insiders have sold a total of 50,183 shares of company stock valued at $2,720,166 in the last quarter. Corporate insiders own 1.14% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Acrospire Investment Management LLC raised its position in shares of Chemours by 3.4% during the 2nd quarter. Acrospire Investment Management LLC now owns 3,076 shares of the specialty chemicals company’s stock valued at $117,000 after acquiring an additional 100 shares during the last quarter. Alps Advisors Inc. bought a new stake in shares of Chemours during the 2nd quarter valued at $202,000. Gamco Investors INC. ET AL bought a new stake in shares of Chemours during the 3rd quarter valued at $202,000. Bell Bank bought a new stake in shares of Chemours during the 3rd quarter valued at $202,000. Finally, First Allied Advisory Services Inc. acquired a new position in shares of Chemours in the 3rd quarter valued at $202,000. Institutional investors own 74.42% of the company’s stock.
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Chemours Company Profile
The Chemours Company is a provider of performance chemicals. The Company operates through three segments: Titanium Technologies, Fluoroproducts and Chemical Solutions. The Titanium Technologies segment is a producer of titanium dioxide (TiO2). The Fluoroproducts segment is a provider of fluoroproducts, including refrigerants and industrial fluoropolymer resins.
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