Chemours (NYSE:CC) Upgraded at UBS Group

UBS Group upgraded shares of Chemours (NYSE:CC) from a neutral rating to a buy rating in a report issued on Tuesday, Marketbeat Ratings reports. The brokerage currently has $30.00 target price on the specialty chemicals company’s stock, up from their previous target price of $28.00.

CC has been the topic of a number of other research reports. Mizuho assumed coverage on Chemours in a report on Friday, June 7th. They set a neutral rating and a $25.00 target price on the stock. Barclays reduced their price objective on Chemours from $32.00 to $30.00 and set an equal weight rating on the stock in a research note on Tuesday, April 2nd. Finally, BMO Capital Markets upgraded shares of Chemours from an underperform rating to an outperform rating and boosted their target price for the company from $19.00 to $34.00 in a research note on Tuesday, April 9th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Hold and an average price target of $30.38.

Chemours Stock Performance

Shares of CC opened at $24.26 on Tuesday. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of -11.18 and a beta of 1.80. The company has a quick ratio of 0.99, a current ratio of 1.61 and a debt-to-equity ratio of 5.26. The business’s 50 day moving average is $25.13 and its two-hundred day moving average is $27.22. Chemours has a 52-week low of $15.10 and a 52-week high of $39.05.

Chemours (NYSE:CC) last posted its quarterly earnings results on Tuesday, April 30th. The specialty chemicals company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.07. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.35 billion. Chemours had a negative net margin of 5.51% and a positive return on equity of 46.67%. The firm’s quarterly revenue was down 12.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.98 earnings per share. Analysts forecast that Chemours will post 1.88 EPS for the current fiscal year.

Chemours Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $1.00 annualized dividend and a dividend yield of 4.12%. Chemours’s dividend payout ratio is presently -46.08%.

Institutional Trading of Chemours

Several large investors have recently added to or reduced their stakes in CC. Invst LLC raised its stake in shares of Chemours by 3.4% during the third quarter. Invst LLC now owns 23,060 shares of the specialty chemicals company’s stock valued at $647,000 after purchasing an additional 754 shares in the last quarter. Aurora Investment Counsel raised its position in shares of Chemours by 24.7% during the 3rd quarter. Aurora Investment Counsel now owns 14,922 shares of the specialty chemicals company’s stock worth $419,000 after buying an additional 2,956 shares in the last quarter. Deutsche Bank AG lifted its stake in shares of Chemours by 4,407.9% in the 3rd quarter. Deutsche Bank AG now owns 1,759,419 shares of the specialty chemicals company’s stock worth $49,352,000 after acquiring an additional 1,720,389 shares during the period. American Century Companies Inc. boosted its holdings in shares of Chemours by 0.7% in the third quarter. American Century Companies Inc. now owns 1,459,463 shares of the specialty chemicals company’s stock valued at $40,938,000 after acquiring an additional 10,075 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its holdings in Chemours by 89.7% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 52,103 shares of the specialty chemicals company’s stock worth $1,462,000 after purchasing an additional 24,638 shares in the last quarter. 76.26% of the stock is currently owned by institutional investors and hedge funds.

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.