Chemours (NYSE:CC) Shares Gap Down to $28.88

The Chemours Company (NYSE:CC)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $28.88, but opened at $25.00. Chemours shares last traded at $24.83, with a volume of 976,541 shares.

Analysts Set New Price Targets

A number of brokerages have recently commented on CC. Royal Bank of Canada raised shares of Chemours from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $28.00 to $40.00 in a report on Friday, December 1st. UBS Group reaffirmed a “neutral” rating and set a $21.00 target price (down previously from $37.00) on shares of Chemours in a report on Tuesday, March 5th. Finally, BMO Capital Markets lowered shares of Chemours from an “outperform” rating to an “underperform” rating and reduced their target price for the company from $45.00 to $19.00 in a report on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Chemours currently has a consensus rating of “Hold” and a consensus target price of $28.22.

Chemours Stock Performance

The company has a market capitalization of $3.91 billion, a PE ratio of -12.23 and a beta of 1.97. The business’s 50-day moving average is $28.08 and its 200-day moving average is $28.14. The company has a debt-to-equity ratio of 5.21, a quick ratio of 1.08 and a current ratio of 1.68.

Chemours Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, February 26th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.00 dividend on an annualized basis and a yield of 3.79%. Chemours’s dividend payout ratio is currently -48.31%.

Institutional Trading of Chemours

Institutional investors and hedge funds have recently bought and sold shares of the company. Quadrature Capital Ltd bought a new stake in shares of Chemours in the fourth quarter worth approximately $255,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Chemours in the fourth quarter worth approximately $99,000. Neo Ivy Capital Management bought a new stake in shares of Chemours in the fourth quarter worth approximately $40,000. Quarry LP grew its stake in shares of Chemours by 106.8% in the fourth quarter. Quarry LP now owns 1,700 shares of the specialty chemicals company’s stock worth $54,000 after acquiring an additional 26,700 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Chemours by 5.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 88,413 shares of the specialty chemicals company’s stock worth $2,789,000 after acquiring an additional 4,792 shares during the period. 76.26% of the stock is currently owned by institutional investors.

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.