The Chemours Company (NYSE:CC – Get Free Report) CFO Shane Hostetter bought 3,350 shares of the firm’s stock in a transaction on Thursday, August 6th. The shares were purchased at an average cost of $14.94 per share, with a total value of $50,049.00. Following the transaction, the chief financial officer directly owned 102,698 shares in the company, valued at approximately $1,534,308.12. This trade represents a 3.37% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Chemours Trading Down 7.8%
Shares of NYSE CC traded down $1.23 during midday trading on Monday, reaching $14.52. The stock had a trading volume of 4,743,587 shares, compared to its average volume of 3,099,398. The company’s 50 day moving average price is $19.23 and its 200 day moving average price is $20.06. The company has a debt-to-equity ratio of 18.98, a quick ratio of 0.88 and a current ratio of 1.66. The Chemours Company has a twelve month low of $10.44 and a twelve month high of $28.67. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of -7.60 and a beta of 1.43.
Chemours (NYSE:CC – Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The specialty chemicals company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.07). Chemours had a positive return on equity of 60.64% and a negative net margin of 5.00%.The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the company earned ($2.54) earnings per share. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. As a group, sell-side analysts expect that The Chemours Company will post 0.91 EPS for the current year.
Chemours Dividend Announcement
Wall Street Analyst Weigh In
Several equities research analysts recently commented on the company. UBS Group reaffirmed a “neutral” rating and set a $18.00 target price (down from $29.00) on shares of Chemours in a research note on Monday. Weiss Ratings cut Chemours from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday. Zacks Research raised shares of Chemours from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 21st. Alembic Global Advisors reiterated an “overweight” rating and issued a $30.00 price objective on shares of Chemours in a research note on Wednesday, May 13th. Finally, Morgan Stanley set a $18.00 target price on shares of Chemours in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Chemours presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.
Get Our Latest Report on Chemours
Institutional Investors Weigh In On Chemours
Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Chemours during the 2nd quarter valued at about $477,769,000. Cooper Creek Partners Management LLC bought a new position in shares of Chemours during the 3rd quarter worth approximately $63,103,000. Bank of New York Mellon Corp purchased a new stake in shares of Chemours during the second quarter valued at approximately $33,353,000. Scopia Capital Management LP increased its position in shares of Chemours by 71.7% during the 2nd quarter. Scopia Capital Management LP now owns 3,355,261 shares of the specialty chemicals company’s stock valued at $38,418,000 after purchasing an additional 1,401,539 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Chemours by 22.7% during the 2nd quarter. State Street Corp now owns 6,114,328 shares of the specialty chemicals company’s stock worth $70,009,000 after purchasing an additional 1,131,682 shares during the period. Institutional investors and hedge funds own 76.26% of the company’s stock.
Chemours Company Profile
Chemours Company, established in 2015 as a spin-off from E. I. du Pont de Nemours and Company, is a global chemistry organization headquartered in Wilmington, Delaware. Since its formation, Chemours has focused on delivering performance chemicals that help customers lower their carbon footprint, increase energy efficiency and conserve water. The company operates with a commitment to safety, environmental stewardship and innovation.
Chemours’ principal business activities are organized into three core segments.
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