Chemours Co (NYSE:CC) announced a quarterly dividend on Wednesday, February 12th, Zacks reports. Shareholders of record on Thursday, February 27th will be paid a dividend of 0.25 per share by the specialty chemicals company on Monday, March 16th. This represents a $1.00 annualized dividend and a yield of 5.40%. The ex-dividend date is Wednesday, February 26th.
Chemours has raised its dividend by an average of 102.7% annually over the last three years and has raised its dividend every year for the last 2 years. Chemours has a payout ratio of 31.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Chemours to earn $3.10 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 32.3%.
Shares of NYSE:CC traded up $2.84 during trading on Friday, reaching $18.52. 489,010 shares of the company were exchanged, compared to its average volume of 2,710,839. The company has a debt-to-equity ratio of 5.05, a current ratio of 1.72 and a quick ratio of 0.98. The business’s fifty day simple moving average is $16.18 and its 200-day simple moving average is $15.87. Chemours has a 12-month low of $11.71 and a 12-month high of $41.60. The firm has a market capitalization of $2.58 billion, a PE ratio of 7.72, a P/E/G ratio of 0.29 and a beta of 2.59.
A number of brokerages have recently issued reports on CC. SunTrust Banks increased their price target on shares of Chemours to $20.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Royal Bank of Canada reiterated a “hold” rating and set a $19.00 price objective on shares of Chemours in a research note on Sunday, December 22nd. JPMorgan Chase & Co. dropped their price objective on Chemours from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Cfra upgraded Chemours from a “buy” rating to a “strong-buy” rating in a research note on Friday. Finally, ValuEngine upgraded Chemours from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Nine analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $23.15.
In related news, CEO Mark P. Vergnano sold 220,759 shares of the business’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $16.00, for a total value of $3,532,144.00. Following the completion of the sale, the chief executive officer now directly owns 398,937 shares in the company, valued at approximately $6,382,992. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.34% of the company’s stock.
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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