The Chemours Company (NYSE:CC) Short Interest Update

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

Chemours Stock Performance

Shares of CC stock opened at $21.28 on Thursday. Chemours has a 12 month low of $15.10 and a 12 month high of $32.70. The stock has a market cap of $3.18 billion, a PE ratio of 42.56 and a beta of 1.80. 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 company’s fifty day moving average price is $19.81 and its 200-day moving average price is $21.14.

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

Chemours Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date of this dividend is Friday, November 15th. Chemours’s payout ratio is 200.00%.

Insider Transactions at Chemours

In related news, SVP Alvenia Scarborough sold 7,500 shares of Chemours stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $20.64, for a total value of $154,800.00. Following the transaction, 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 link. Company insiders own 0.47% of the company’s stock.

Hedge Funds Weigh In On Chemours

Hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its stake in Chemours by 3.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 91,345 shares of the specialty chemicals company’s stock valued at $2,399,000 after acquiring an additional 2,932 shares during the period. Linden Thomas Advisory Services LLC bought a new position in Chemours during the 2nd quarter valued at about $460,000. Bourgeon Capital Management LLC lifted its stake in Chemours by 2.1% during the 2nd quarter. Bourgeon Capital Management LLC now owns 71,750 shares of the specialty chemicals company’s stock valued at $1,619,000 after acquiring an additional 1,500 shares during the period. SG Americas Securities LLC bought a new position in Chemours during the 2nd quarter valued at about $529,000. Finally, Twelve Points Wealth Management LLC lifted its stake in Chemours by 15.7% during the 2nd quarter. Twelve Points Wealth Management LLC now owns 22,548 shares of the specialty chemicals company’s stock valued at $509,000 after acquiring an additional 3,068 shares during the period. Institutional investors own 76.26% of the company’s stock.

Wall Street Analyst Weigh In

CC has been the topic of several analyst reports. Barclays lifted their target price on shares of Chemours from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Royal Bank of Canada decreased their target price on shares of Chemours from $28.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. BMO Capital Markets lifted their target price on shares of Chemours from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. Morgan Stanley reduced their price objective on shares of 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, The Goldman Sachs Group reduced their price objective on shares of Chemours from $29.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 3rd. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $24.88.

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.