The Chemours Company (NYSE:CC – Get Free Report) saw some unusual options trading on Tuesday. Stock investors acquired 33,698 call options on the stock. This represents an increase of 457% compared to the typical volume of 6,050 call options.
Hedge Funds Weigh In On Chemours
Several institutional investors and hedge funds have recently added to or reduced their stakes in CC. Y Intercept Hong Kong Ltd purchased a new position in Chemours during the third quarter valued at $2,124,000. WINTON GROUP Ltd raised its stake in Chemours by 103.5% during the third quarter. WINTON GROUP Ltd now owns 114,100 shares of the specialty chemicals company’s stock valued at $1,807,000 after buying an additional 58,039 shares during the last quarter. SG Americas Securities LLC raised its stake in Chemours by 478.4% during the fourth quarter. SG Americas Securities LLC now owns 236,236 shares of the specialty chemicals company’s stock valued at $2,785,000 after buying an additional 195,393 shares during the last quarter. Hudson Bay Capital Management LP purchased a new position in Chemours during the third quarter valued at $1,925,000. Finally, Wolf Hill Capital Management LP purchased a new position in Chemours during the third quarter valued at $17,025,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on CC shares. Morgan Stanley increased their target price on Chemours from $17.00 to $21.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Alembic Global Advisors restated an “overweight” rating and set a $30.00 target price on shares of Chemours in a report on Wednesday, May 13th. The Goldman Sachs Group increased their target price on Chemours from $14.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, February 25th. Royal Bank Of Canada increased their target price on Chemours from $26.00 to $29.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Chemours in a report on Monday, April 20th. Six equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Chemours has an average rating of “Hold” and a consensus target price of $23.09.
Chemours Trading Down 3.3%
NYSE CC traded down $0.77 on Tuesday, hitting $22.17. The company’s stock had a trading volume of 2,008,552 shares, compared to its average volume of 3,338,453. The firm has a market cap of $3.33 billion, a P/E ratio of -8.39 and a beta of 1.47. The company has a current ratio of 1.82, a quick ratio of 0.87 and a debt-to-equity ratio of 18.98. The company’s 50-day simple moving average is $22.09 and its 200 day simple moving average is $17.13. Chemours has a 52-week low of $9.13 and a 52-week high of $28.67.
Chemours (NYSE:CC – Get Free Report) last released its earnings results on Tuesday, May 5th. The specialty chemicals company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.10. The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Chemours had a positive return on equity of 52.49% and a negative net margin of 6.82%.The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.13 EPS. Research analysts predict that Chemours will post 1.31 EPS for the current fiscal year.
Chemours Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Sunday, May 17th will be given a dividend of $0.0875 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $0.35 annualized dividend and a yield of 1.6%. Chemours’s dividend payout ratio (DPR) is currently -13.26%.
About Chemours
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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