Morgan Stanley Has Lowered Expectations for Chemours (NYSE:CC) Stock Price

Chemours (NYSE:CC) had its price target lowered by Morgan Stanley from $25.00 to $22.00 in a research note released on Monday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the specialty chemicals company’s stock.

CC has been the subject of a number of other research reports. Mizuho lowered their price target on Chemours from $22.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. The Goldman Sachs Group dropped their target price on Chemours from $24.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Royal Bank of Canada reissued an “outperform” rating and set a $25.00 price target on shares of Chemours in a research report on Thursday, December 12th. BMO Capital Markets upped their price objective on shares of Chemours from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, October 7th. Finally, Barclays raised their target price on shares of Chemours from $21.00 to $23.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Chemours presently has a consensus rating of “Hold” and an average price target of $23.75.

Chemours Price Performance

Shares of CC stock opened at $18.79 on Monday. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of 37.58 and a beta of 1.83. The company has a debt-to-equity ratio of 6.05, a quick ratio of 0.92 and a current ratio of 1.73. The stock’s 50-day simple moving average is $19.21 and its 200-day simple moving average is $19.80. Chemours has a fifty-two week low of $15.10 and a fifty-two week high of $32.48.

Chemours (NYSE:CC) last released its earnings results on Monday, November 4th. The specialty chemicals company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.08. Chemours had a net margin of 1.34% and a return on equity of 29.48%. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the previous year, the firm earned $0.64 EPS. Chemours’s revenue was up .9% compared to the same quarter last year. As a group, equities analysts forecast that Chemours will post 1.35 earnings per share for the current fiscal year.

Chemours Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 15th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.00 annualized dividend and a yield of 5.32%. Chemours’s dividend payout ratio is presently 200.00%.

Insiders Place Their Bets

In other news, SVP Alvenia Scarborough sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $20.64, for a total value of $154,800.00. Following the completion of the sale, the senior vice president now directly owns 16,645 shares in the company, valued at $343,552.80. The trade was a 31.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On Chemours

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. KBC Group NV lifted its holdings in Chemours by 19.5% during the third quarter. KBC Group NV now owns 4,468 shares of the specialty chemicals company’s stock valued at $91,000 after purchasing an additional 728 shares in the last quarter. Blue Trust Inc. lifted its stake in Chemours by 166.9% in the 3rd quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company’s stock valued at $26,000 after buying an additional 731 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Chemours by 99.7% in the 4th quarter. GAMMA Investing LLC now owns 1,532 shares of the specialty chemicals company’s stock worth $26,000 after buying an additional 765 shares during the last quarter. State of Alaska Department of Revenue increased its stake in Chemours by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 17,205 shares of the specialty chemicals company’s stock worth $349,000 after buying an additional 1,175 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in shares of Chemours by 163.7% during the third quarter. Signaturefd LLC now owns 1,959 shares of the specialty chemicals company’s stock valued at $40,000 after acquiring an additional 1,216 shares during the last quarter. Hedge funds and other institutional investors own 76.26% of the company’s stock.

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.