The Chemours Company (NYSE:CC – Get Free Report) insider Calderon Gerardo Familiar acquired 1,935 shares of Chemours stock in a transaction dated Wednesday, August 12th. The shares were purchased at an average price of $15.53 per share, with a total value of $30,050.55. Following the acquisition, the insider owned 58,547 shares of the company’s stock, valued at approximately $909,234.91. This trade represents a 3.42% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Chemours Stock Performance
CC traded down $0.01 during trading on Thursday, hitting $15.23. The stock had a trading volume of 3,639,033 shares, compared to its average volume of 3,109,865. The company has a debt-to-equity ratio of 18.98, a current ratio of 1.66 and a quick ratio of 0.88. The company has a 50 day moving average price of $18.76 and a 200-day moving average price of $20.03. The Chemours Company has a one year low of $10.44 and a one year high of $28.67. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of -7.97 and a beta of 1.43.
Chemours (NYSE:CC – Get Free Report) last posted its earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.07). The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.65 billion. Chemours had a positive return on equity of 60.64% and a negative net margin of 5.00%.The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($2.54) EPS. As a group, research analysts predict that The Chemours Company will post 0.88 EPS for the current year.
Chemours Announces Dividend
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the stock. Morgan Stanley set a $18.00 target price on shares of Chemours in a research report on Monday. The Goldman Sachs Group reiterated a “neutral” rating and issued a $17.00 price target on shares of Chemours in a research report on Thursday. Truist Financial cut their price target on Chemours from $30.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. BMO Capital Markets reduced their price target on Chemours from $26.00 to $18.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, Royal Bank Of Canada lowered their price objective on Chemours from $26.00 to $22.00 and set an “outperform” rating on the stock in a research note on Thursday, August 6th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $20.10.
Check Out Our Latest Research Report on CC
Hedge Funds Weigh In On Chemours
Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Chemours during the second quarter valued at approximately $477,769,000. Cooper Creek Partners Management LLC acquired a new stake in shares of Chemours in the 3rd quarter valued at $63,103,000. Bank of New York Mellon Corp bought a new position in Chemours in the second quarter valued at about $33,353,000. Scopia Capital Management LP grew its holdings 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 grew its stake in shares of Chemours by 22.7% during the second quarter. State Street Corp now owns 6,114,328 shares of the specialty chemicals company’s stock worth $70,009,000 after buying an additional 1,131,682 shares during the last quarter. 76.26% of the stock is currently owned by institutional investors and hedge funds.
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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