Chemours (NYSE:CC) Trading Down 3.2%

The Chemours Company (NYSE:CC) shares traded down 3.2% on Tuesday . The stock traded as low as $27.47 and last traded at $27.47. 275,714 shares were traded during trading, a decline of 86% from the average session volume of 1,941,812 shares. The stock had previously closed at $28.37.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. BMO Capital Markets downgraded shares of Chemours from an “outperform” rating to an “underperform” rating and reduced their price target for the stock from $45.00 to $19.00 in a research report on Thursday, February 29th. UBS Group reiterated a “neutral” rating and issued a $21.00 price objective (down previously from $37.00) on shares of Chemours in a report on Tuesday, March 5th. Finally, Royal Bank of Canada upgraded shares of Chemours from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $28.00 to $40.00 in a report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Chemours presently has an average rating of “Hold” and an average price target of $28.22.

Chemours Price Performance

The company has a debt-to-equity ratio of 5.21, a quick ratio of 1.08 and a current ratio of 1.68. The stock has a market cap of $3.90 billion, a PE ratio of -12.73 and a beta of 1.97. The stock’s 50-day moving average is $28.08 and its two-hundred day moving average is $28.14.

Chemours Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, February 26th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.00 annualized dividend and a yield of 3.81%. Chemours’s dividend payout ratio is presently -48.31%.

Institutional Investors Weigh In On Chemours

Hedge funds and other institutional investors have recently modified their holdings of the company. Deutsche Bank AG raised its holdings 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 valued at $49,352,000 after purchasing an additional 1,720,389 shares in the last quarter. Anchor Investment Management LLC acquired a new stake in Chemours during the 4th quarter worth $56,000. American Century Companies Inc. increased its stake in 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 purchasing an additional 10,075 shares during the period. Sherbrooke Park Advisers LLC acquired a new position in Chemours in the third quarter valued at $1,044,000. Finally, Capula Management Ltd acquired a new position in Chemours in the second quarter valued at $782,000. 76.26% of the stock is currently owned by institutional investors and hedge funds.

Chemours Company Profile

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.