Chemical Companies as of November 10: Your Weekly Wrap-Up

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Part 2
Chemical Companies as of November 10: Your Weekly Wrap-Up PART 2 OF 8

Chemours to Pay a 4Q17 Dividend

Chemours regular cash dividend

On November 7, 2017, Chemours (CC) announced that it would pay a dividend in 4Q17. Chemours announced that the dividend rate would be $0.03. The company has maintained the same dividend rate since 3Q15.

The dividend is expected to be paid on December 15, 2017, and the company has set the record date at November 20, 2017, meaning that shareholders as of this date will be eligible to receive the dividend.

Chemours to Pay a 4Q17 Dividend

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Chemours’ current dividend yield as of November 10 stands at 0.24%, which is lower than the current yield from one-year Treasury bonds. But the stock’s rising price has caused the decline in the company’s dividend yield. We’ll have to wait and see if CC will raise its dividend rates to improve its yield and make it more attractive to investors.

Stock performance

Chemours stock fell 4.0% and closed at $50.07. After its 3Q17 results, the stock has been in a declining trend, but CC has managed to trade above its 100-day moving average of $48.70. On a YTD (year-to-date) basis, the stock has gained a staggering 126.7%.

However, analysts see further upside in the stock and have recommended a target price of $61.86 over the next 12 months, representing a potential return of 23.5% over its closing price on November 10. CC’s 14-day relative strength index score of 28 suggests that the stock has moved into an oversold territory temporarily. CC might see some buying, which could push the stock price up.

Notably, investors looking for indirect exposure to CC can invest in the PowerShares DWA Momentum Portfolio (PDP), which has 1.8% of its portfolio in Chemours stock. The fund also provides exposure to Apple (AAPL), Sherwin-Williams (SHW), and Lockheed Martin (LMT), which had weights of 3.2%, 1.7%, and 1.6%, respectively, on November 10.


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