Chemours (NYSE:CC) PT Lowered to $18.00 at JPMorgan Chase & Co.

Chemours (NYSE:CC) had its target price reduced by JPMorgan Chase & Co. from $25.00 to $18.00 in a research note released on Tuesday, Benzinga reports. They currently have a neutral rating on the specialty chemicals company’s stock.

Several other equities research analysts have also commented on the company. Mizuho began coverage on Chemours in a research note on Friday, June 7th. They set a neutral rating and a $25.00 price objective for the company. UBS Group cut their price objective on Chemours from $30.00 to $28.00 and set a buy rating for the company in a research note on Tuesday. Barclays cut their price objective on Chemours from $30.00 to $22.00 and set an equal weight rating for the company in a research note on Tuesday. Finally, BMO Capital Markets cut their price objective on Chemours from $35.00 to $30.00 and set an outperform rating for the company in a research note on Tuesday. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $27.63.

Chemours Price Performance

Shares of Chemours stock traded down $0.14 on Tuesday, hitting $18.12. The company’s stock had a trading volume of 1,865,996 shares, compared to its average volume of 1,629,186. The company has a debt-to-equity ratio of 5.26, a quick ratio of 0.99 and a current ratio of 1.61. Chemours has a 1 year low of $15.10 and a 1 year high of $36.05. The firm has a fifty day moving average price of $23.05 and a 200-day moving average price of $25.98. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of -8.35 and a beta of 1.80.

Chemours (NYSE:CC) last announced its quarterly earnings results on Thursday, August 1st. The specialty chemicals company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.19). Chemours had a net margin of 2.16% and a return on equity of 32.93%. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the prior year, the firm earned $1.10 EPS. Chemours’s revenue for the quarter was down 6.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Chemours will post 1.81 earnings per share for the current fiscal year.

Chemours Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Thursday, August 15th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 5.52%. The ex-dividend date of this dividend is Thursday, August 15th. Chemours’s dividend payout ratio is presently -46.08%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Chemours by 169.3% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 35,105 shares of the specialty chemicals company’s stock worth $1,009,000 after acquiring an additional 22,067 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Chemours during the first quarter worth $1,764,000. Edgestream Partners L.P. purchased a new stake in shares of Chemours during the first quarter worth $1,228,000. Easterly Investment Partners LLC purchased a new stake in shares of Chemours during the first quarter worth $1,153,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Chemours during the fourth quarter worth $1,547,000. 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.