The Chemours Company (NYSE:CC) Sees Large Drop in Short Interest

The Chemours Company (NYSE:CC - Get Free Report) was the recipient of a large drop in short interest in November. As of November 15th, there was short interest totalling 7,280,000 shares, a drop of 5.5% from the October 31st total of 7,700,000 shares. Based on an average daily volume of 1,550,000 shares, the days-to-cover ratio is currently 4.7 days. Approximately 4.9% of the company's stock are short sold.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. UBS Group reduced their target price on shares of Chemours from $30.00 to $28.00 and set a "buy" rating for the company in a report on Tuesday, August 6th. Barclays upped their target price on Chemours from $21.00 to $23.00 and gave the stock an "equal weight" rating in a research note on Tuesday, November 5th. BMO Capital Markets lifted their price target on Chemours from $30.00 to $32.00 and gave the company an "outperform" rating in a research report on Monday, October 7th. Morgan Stanley lowered their price objective on Chemours from $30.00 to $25.00 and set an "equal weight" rating on the stock in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Chemours from $25.00 to $18.00 and set a "neutral" rating for the company in a research note on Tuesday, August 6th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Chemours has a consensus rating of "Hold" and a consensus price target of $24.88.

Insider Buying and Selling

In other news, SVP Alvenia Scarborough sold 7,500 shares of the business's stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $20.64, for a total transaction of $154,800.00. Following the sale, the senior vice president now directly owns 16,645 shares of the company's stock, valued at $343,552.80. The trade was a 31.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is owned by company insiders.

Institutional Trading of Chemours

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Matrix Trust Co acquired a new position in shares of Chemours in the third quarter valued at approximately $25,000. Blue Trust Inc. grew its stake in shares of Chemours by 166.9% in the third quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company's stock worth $26,000 after acquiring an additional 731 shares in the last quarter. Truvestments Capital LLC purchased a new stake in shares of Chemours during the third quarter worth $35,000. Brooklyn Investment Group acquired a new stake in shares of Chemours in the third quarter valued at $37,000. Finally, Signaturefd LLC boosted its holdings in Chemours by 163.7% in the third quarter. Signaturefd LLC now owns 1,959 shares of the specialty chemicals company's stock valued at $40,000 after purchasing an additional 1,216 shares during the period. Hedge funds and other institutional investors own 76.26% of the company's stock.

Chemours Trading Down 0.1 %

Chemours stock traded down $0.02 during midday trading on Tuesday, hitting $21.63. 1,203,830 shares of the stock were exchanged, compared to its average volume of 1,490,553. The company has a current ratio of 1.73, a quick ratio of 0.92 and a debt-to-equity ratio of 6.05. The stock's 50-day simple moving average is $19.77 and its 200 day simple moving average is $21.19. Chemours has a fifty-two week low of $15.10 and a fifty-two week high of $32.70. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of 43.26 and a beta of 1.80.

Chemours (NYSE:CC - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The specialty chemicals company reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.32 by $0.08. Chemours had a return on equity of 29.48% and a net margin of 1.34%. The business had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.44 billion. During the same period in the prior year, the business posted $0.64 EPS. The company's revenue was up .9% compared to the same quarter last year. On average, equities analysts anticipate that Chemours will post 1.35 EPS for the current year.

Chemours Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.62%. Chemours's payout ratio is currently 200.00%.

Chemours Company Profile

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.