Chemours Company (The) (CC) Raised to “Neutral” at UBS AG

UBS AG upgraded shares of Chemours Company (The) (NYSE:CC) from a sell rating to a neutral rating in a research report report published on Monday, August 7th, 99wallstreet.com reports. They currently have $50.00 target price on the specialty chemicals company’s stock, up from their previous target price of $36.00.

Several other brokerages have also commented on CC. J P Morgan Chase & Co upgraded Chemours Company (The) from a neutral rating to an overweight rating and increased their price objective for the company from $39.00 to $50.00 in a report on Friday, May 12th. Citigroup Inc. upgraded Chemours Company (The) from a neutral rating to a buy rating and increased their price objective for the company from $43.00 to $45.00 in a report on Wednesday, July 5th. Jefferies Group LLC restated a buy rating and issued a $48.00 target price on shares of Chemours Company (The) in a research note on Friday, June 16th. BidaskClub upgraded Chemours Company (The) from a hold rating to a buy rating in a research note on Wednesday, July 12th. Finally, Zacks Investment Research lowered Chemours Company (The) from a buy rating to a hold rating in a research note on Wednesday, July 12th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $51.50.

Chemours Company (NYSE CC) traded up 2.61% on Monday, reaching $46.08. The company’s stock had a trading volume of 1,651,927 shares. Chemours Company has a 52-week low of $12.16 and a 52-week high of $51.51. The stock’s 50 day moving average price is $45.01 and its 200 day moving average price is $38.80. The firm has a market cap of $8.52 billion, a PE ratio of 30.16 and a beta of 3.63.

Chemours Company (The) (NYSE:CC) last issued its quarterly earnings data on Wednesday, August 2nd. The specialty chemicals company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02. Chemours Company (The) had a return on equity of 122.97% and a net margin of 4.96%. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the prior year, the business posted $0.27 EPS. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. Equities research analysts expect that Chemours Company will post $3.51 earnings per share for the current fiscal year.

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The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 17th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date of this dividend is Tuesday, August 15th. Chemours Company (The)’s dividend payout ratio (DPR) is presently 8.11%.

In other news, insider E Bryan Snell sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $46.24, for a total transaction of $462,400.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Amy Trojanowski sold 2,500 shares of Chemours Company (The) stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $46.03, for a total value of $115,075.00. The disclosure for this sale can be found here. Insiders have sold a total of 31,536 shares of company stock worth $1,365,946 over the last 90 days. Insiders own 1.14% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Chemours Company (The) by 48,297.2% in the first quarter. BlackRock Inc. now owns 19,160,930 shares of the specialty chemicals company’s stock valued at $737,696,000 after buying an additional 19,121,339 shares in the last quarter. Vanguard Group Inc. raised its stake in Chemours Company (The) by 1.2% in the first quarter. Vanguard Group Inc. now owns 18,773,273 shares of the specialty chemicals company’s stock valued at $722,771,000 after buying an additional 215,900 shares during the last quarter. FMR LLC raised its stake in Chemours Company (The) by 6.1% in the second quarter. FMR LLC now owns 15,830,411 shares of the specialty chemicals company’s stock valued at $600,289,000 after buying an additional 905,038 shares during the last quarter. State Street Corp raised its stake in Chemours Company (The) by 35.1% in the first quarter. State Street Corp now owns 5,791,792 shares of the specialty chemicals company’s stock valued at $222,987,000 after buying an additional 1,504,657 shares during the last quarter. Finally, Prudential Financial Inc. raised its stake in Chemours Company (The) by 64.1% in the first quarter. Prudential Financial Inc. now owns 4,473,227 shares of the specialty chemicals company’s stock valued at $172,219,000 after buying an additional 1,747,880 shares during the last quarter. Institutional investors and hedge funds own 76.51% of the company’s stock.

About Chemours Company (The)

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.

Analyst Recommendations for Chemours Company (The) (NYSE:CC)

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