The Chemours Company (NYSE:CC) Short Interest Up 22.1% in March

The Chemours Company (NYSE:CC - Get Free Report) was the target of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 12,860,000 shares, a growth of 22.1% from the March 15th total of 10,530,000 shares. Currently, 8.7% of the company's stock are sold short. Based on an average daily trading volume, of 2,840,000 shares, the days-to-cover ratio is currently 4.5 days.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Truist Financial decreased their price target on shares of Chemours from $27.00 to $22.00 and set a "buy" rating for the company in a research note on Monday, April 14th. BMO Capital Markets decreased their price target on Chemours from $34.00 to $27.00 and set an "outperform" rating for the company in a research note on Wednesday, February 19th. Morgan Stanley dropped their price objective on Chemours from $25.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Monday, January 13th. Mizuho set a $15.00 target price on shares of Chemours in a research note on Tuesday, April 15th. Finally, Barclays dropped their price target on Chemours from $19.00 to $16.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 1st. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $21.56.

Chemours Price Performance

Shares of NYSE:CC traded up $0.61 on Thursday, reaching $12.44. The company's stock had a trading volume of 2,196,826 shares, compared to its average volume of 1,857,930. The company has a 50-day simple moving average of $13.49 and a 200 day simple moving average of $17.17. Chemours has a 52-week low of $9.33 and a 52-week high of $29.21. The company has a debt-to-equity ratio of 6.70, a quick ratio of 0.92 and a current ratio of 1.68. The company has a market cap of $1.86 billion, a P/E ratio of 21.82 and a beta of 1.84.

Chemours (NYSE:CC - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.10 by $0.01. Chemours had a return on equity of 26.54% and a net margin of 1.51%. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.37 billion. As a group, equities research analysts anticipate that Chemours will post 2.03 EPS for the current fiscal year.

Chemours Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.04%. The ex-dividend date was Friday, February 28th. Chemours's dividend payout ratio is currently 175.44%.

Institutional Trading of Chemours

A number of institutional investors have recently bought and sold shares of CC. Strategic Financial Concepts LLC purchased a new stake in shares of Chemours in the fourth quarter valued at $357,000. Entropy Technologies LP purchased a new stake in Chemours in the 4th quarter worth about $266,000. Sei Investments Co. lifted its stake in Chemours by 779.5% in the fourth quarter. Sei Investments Co. now owns 174,555 shares of the specialty chemicals company's stock worth $2,950,000 after purchasing an additional 154,709 shares during the last quarter. Twelve Points Wealth Management LLC boosted its position in shares of Chemours by 42.8% during the fourth quarter. Twelve Points Wealth Management LLC now owns 78,325 shares of the specialty chemicals company's stock valued at $1,324,000 after buying an additional 23,490 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Chemours by 1.2% in the third quarter. Geode Capital Management LLC now owns 2,491,748 shares of the specialty chemicals company's stock worth $50,646,000 after buying an additional 28,803 shares during the period. 76.26% of the stock is currently owned by institutional investors.

About Chemours

The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. It operates through three segments: Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure brand for delivering whiteness, brightness, opacity, durability, efficiency, and protection in various of applications, such as architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride, laminate papers used for furniture and building materials, coated paper, and coated paperboard used for packaging.