Chemours Co (NYSE:CC) declared a quarterly dividend on Wednesday, July 29th, Zacks reports. Shareholders of record on Monday, August 17th will be paid a dividend of 0.25 per share by the specialty chemicals company on Tuesday, September 15th. This represents a $1.00 annualized dividend and a yield of 5.27%. The ex-dividend date of this dividend is Friday, August 14th.
Chemours has raised its dividend payment by an average of 733.3% annually over the last three years and has increased its dividend every year for the last 2 years. Chemours has a payout ratio of 58.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Chemours to earn $1.97 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 50.8%.
CC traded up $0.96 during trading on Friday, hitting $18.96. The stock had a trading volume of 30,286 shares, compared to its average volume of 1,498,808. The company has a debt-to-equity ratio of 6.42, a quick ratio of 1.10 and a current ratio of 1.93. The firm has a market capitalization of $3.07 billion, a P/E ratio of -61.78 and a beta of 2.44. The company’s 50-day moving average price is $15.95 and its 200 day moving average price is $13.88. Chemours has a twelve month low of $7.02 and a twelve month high of $20.23.
Several brokerages have commented on CC. ValuEngine lowered shares of Chemours from a “hold” rating to a “sell” rating in a research report on Wednesday, July 15th. SunTrust Banks boosted their target price on shares of Chemours from $10.00 to $12.00 and gave the stock a “hold” rating in a research report on Thursday, May 7th. Susquehanna Bancshares decreased their target price on shares of Chemours from $23.00 to $17.00 in a research report on Tuesday, April 14th. Zacks Investment Research upgraded shares of Chemours from a “strong sell” rating to a “hold” rating and set a $17.00 target price on the stock in a research report on Tuesday, July 7th. Finally, Cfra decreased their target price on shares of Chemours from $21.00 to $11.00 and set a “hold” rating on the stock in a research report on Friday, April 3rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. Chemours presently has an average rating of “Hold” and an average price target of $14.30.
In other news, COO Mark Newman bought 2,500 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The stock was purchased at an average price of $11.62 per share, with a total value of $29,050.00. Following the purchase, the chief operating officer now owns 132,344 shares of the company’s stock, valued at approximately $1,537,837.28. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.72% of the company’s stock.
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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