The Chemours Company (NYSE:CC – Get Free Report) declared a quarterly dividend on Thursday, July 25th, Wall Street Journal reports. Stockholders of record on Thursday, August 15th will be paid a dividend of 0.25 per share by the specialty chemicals company on Friday, September 13th. This represents a $1.00 annualized dividend and a dividend yield of 4.19%. The ex-dividend date of this dividend is Thursday, August 15th.
Chemours has a dividend payout ratio of 29.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Chemours to earn $2.83 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 35.3%.
Chemours Stock Up 1.7 %
Shares of CC stock traded up $0.40 during mid-day trading on Thursday, hitting $23.89. 1,247,971 shares of the stock traded hands, compared to its average volume of 1,591,125. Chemours has a twelve month low of $15.10 and a twelve month high of $38.80. The company’s 50-day simple moving average is $24.43 and its 200-day simple moving average is $26.72. The company has a quick ratio of 0.99, a current ratio of 1.61 and a debt-to-equity ratio of 5.26.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on CC. BMO Capital Markets raised Chemours from an “underperform” rating to an “outperform” rating and boosted their target price for the stock from $19.00 to $34.00 in a research report on Tuesday, April 9th. UBS Group upgraded Chemours from a “neutral” rating to a “buy” rating and lifted their price target for the company from $28.00 to $30.00 in a report on Tuesday, July 9th. Mizuho initiated coverage on Chemours in a report on Friday, June 7th. They set a “neutral” rating and a $25.00 price target on the stock. Finally, Barclays lowered their price target on Chemours from $32.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 2nd. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $30.38.
Get Our Latest Report on Chemours
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.
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