Chemours Co (NYSE:CC) announced a quarterly dividend on Tuesday, April 30th, RTT News reports. Stockholders of record on Thursday, May 16th will be given a dividend of 0.25 per share by the specialty chemicals company on Friday, June 14th. This represents a $1.00 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend is Wednesday, May 15th.
Chemours has increased its dividend payment by an average of 13.1% per year over the last three years. Chemours has a dividend payout ratio of 17.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Chemours to earn $5.55 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 18.0%.
Chemours stock opened at $27.18 on Friday. Chemours has a 1-year low of $25.17 and a 1-year high of $53.25. The company has a debt-to-equity ratio of 5.18, a current ratio of 1.81 and a quick ratio of 1.04. The company has a market capitalization of $4.86 billion, a PE ratio of 4.79, a PEG ratio of 0.49 and a beta of 2.20.
A number of equities analysts recently weighed in on the stock. Royal Bank of Canada lowered their price objective on shares of Chemours to $43.00 and set an “outperform” rating for the company in a research report on Monday. JPMorgan Chase & Co. cut shares of Chemours from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $40.00 to $34.00 in a research report on Monday. ValuEngine cut shares of Chemours from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 1st. SunTrust Banks raised shares of Chemours from a “hold” rating to a “buy” rating and increased their price objective for the stock from $40.00 to $52.00 in a research report on Monday, April 15th. Finally, Zacks Investment Research raised shares of Chemours from a “sell” rating to a “hold” rating in a research report on Monday, March 18th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $46.00.
In other Chemours news, VP Mark Newman sold 59,210 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $38.26, for a total value of $2,265,374.60. Following the completion of the transaction, the vice president now owns 94,261 shares of the company’s stock, valued at approximately $3,606,425.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Amy Trojanowski sold 13,536 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $38.63, for a total transaction of $522,895.68. Following the completion of the sale, the vice president now owns 54,367 shares in the company, valued at $2,100,197.21. The disclosure for this sale can be found here. Insiders have sold a total of 101,924 shares of company stock valued at $3,924,730 in the last ninety days. 2.34% of the stock is currently owned by corporate insiders.
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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, Fluoroproducts, and Chemical Solutions. The Titanium Technologies segment manufactures and sells titanium dioxide under the Ti-Pure and BaiMax brands for various applications in architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride window profiles, laminate papers used for furniture and building materials, and coated papers and paperboards used for packaging.
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