Chemours (NYSE:CC) Trading Down 3.2%

Shares of The Chemours Company (NYSE:CC) fell 3.2% during mid-day trading on Tuesday . The company 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

A number of brokerages have issued reports on CC. BMO Capital Markets downgraded Chemours from an “outperform” rating to an “underperform” rating and decreased their price objective for the company from $45.00 to $19.00 in a research report on Thursday, February 29th. Royal Bank of Canada upgraded shares of Chemours from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $28.00 to $40.00 in a report on Friday, December 1st. Finally, UBS Group reissued a “neutral” rating and issued a $21.00 price objective (down from $37.00) on shares of Chemours in a research report on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Chemours has an average rating of “Hold” and an average price target of $28.22.

Chemours Price Performance

The firm has a market cap of $3.90 billion, a P/E ratio of -12.73 and a beta of 1.97. The company has a current ratio of 1.68, a quick ratio of 1.08 and a debt-to-equity ratio of 5.21. The firm has a 50-day simple moving average of $28.08 and a 200-day simple moving average of $28.14.

Chemours Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CC. Deutsche Bank AG grew its stake in shares of Chemours by 4,407.9% during the third 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 last quarter. Anchor Investment Management LLC acquired a new stake in Chemours in the 4th quarter worth approximately $56,000. American Century Companies Inc. grew its position in Chemours by 0.7% during the 3rd quarter. American Century Companies Inc. now owns 1,459,463 shares of the specialty chemicals company’s stock worth $40,938,000 after purchasing an additional 10,075 shares during the last quarter. Sherbrooke Park Advisers LLC acquired a new position in Chemours during the 3rd quarter valued at approximately $1,044,000. Finally, Capula Management Ltd purchased a new position in shares of Chemours in the second quarter worth $782,000. 76.26% of the stock is currently owned by hedge funds and other 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.