Chemours (CC) Declares $0.25 Dividend
Chemours said on February 6, 2023 that its board of directors declared a regular quarterly dividend of $0.25 per share ($1.00 annualized). Shareholders of record as of February 23, 2023 will receive the payment on March 15, 2023. Previously, the company paid $0.25 per share.
At the current share price of $34.94 / share, the stock's dividend yield is 2.86%. Looking back five years and taking a sample every week, the average dividend yield has been 3.95%, the lowest has been 0.25%, and the highest has been 12.18%. The standard deviation of yields is 2.00 (n=235).
The current dividend yield is 0.55 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.17. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
Analyst Price Forecast Suggests 5.58% Upside
As of February 9, 2023, the average one-year price target for Chemours is $36.89. The forecasts range from a low of $24.24 to a high of $54.60. The average price target represents an increase of 5.58% from its latest reported closing price of $34.94.
The projected annual revenue for Chemours is $6,784MM, a decrease of 3.51%. The projected annual EPS is $4.55, a decrease of 20.46%.
What is the Fund Sentiment?
There are 952 funds or institutions reporting positions in Chemours. This is a decrease of 8 owner(s) or 0.83% in the last quarter. Average portfolio weight of all funds dedicated to CC is 0.16%, a decrease of 19.23%. Total shares owned by institutions increased in the last three months by 1.83% to 125,035K shares. The put/call ratio of CC is 0.67, indicating a bullish outlook.
What are large shareholders doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,624K shares representing 3.06% ownership of the company. In it's prior filing, the firm reported owning 4,568K shares, representing an increase of 1.21%. The firm decreased its portfolio allocation in CC by 18.77% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 4,533K shares representing 3.00% ownership of the company. In it's prior filing, the firm reported owning 4,470K shares, representing an increase of 1.39%. The firm decreased its portfolio allocation in CC by 21.54% over the last quarter.
DVY - iShares Select Dividend ETF holds 4,335K shares representing 2.87% ownership of the company. In it's prior filing, the firm reported owning 4,259K shares, representing an increase of 1.75%. The firm decreased its portfolio allocation in CC by 17.02% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 3,939K shares representing 2.61% ownership of the company. In it's prior filing, the firm reported owning 3,924K shares, representing an increase of 0.39%. The firm decreased its portfolio allocation in CC by 19.41% over the last quarter.
Lsv Asset Management holds 2,952K shares representing 1.96% ownership of the company. In it's prior filing, the firm reported owning 3,114K shares, representing a decrease of 5.48%. The firm increased its portfolio allocation in CC by 10.54% over the last quarter.
Chemours Background Information
(This description is provided by the company.)
The Chemours Company is a global leader in Titanium Technologies, Fluoroproducts, and Chemical Solutions, providing its customers with solutions in a wide range of industries with market-defining products, application expertise and chemistry-based innovations. Chemours ingredients are found in plastics and coatings, refrigeration and air conditioning, mining, and general industrial manufacturing. Its flagship products include prominent brands such as Teflon™, Ti-Pure™, Krytox™, Viton™, Opteon™, Freon™ and Nafion™. In 2019, Chemours was named to Newsweek's list of America's Most Responsible Companies. The company has approximately 7,000 employees and 30 manufacturing sites serving approximately 3,700 customers in over 120 countries. Chemours is headquartered in Wilmington, Delaware.
This story originally appeared on Fintel.