Chemours (CC) Bonds Trading 2.4% Higher

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.

ILLEGAL ACTIVITY WARNING: This story was originally posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this story on another publication, it was copied illegally and reposted in violation of United States and international copyright and trademark legislation. The legal version of this story can be accessed at https://www.dispatchtribunal.com/2017/12/07/chemours-cc-bonds-trading-2-4-higher.html.

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.

Receive News & Ratings for Chemours Company (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chemours Company (The) and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply