The Chemours Company (NYSE:CC) Short Interest Update

by · The Markets Daily

The Chemours Company (NYSE:CC – Get Free Report) was the target of a significant growth in short interest in September. As of September 15th, there was short interest totalling 7,300,000 shares, a growth of 13.0% from the August 31st total of 6,460,000 shares. Approximately 5.0% of the shares of the stock are sold short. Based on an average daily volume of 1,350,000 shares, the short-interest ratio is currently 5.4 days.

Analysts Set New Price Targets

CC has been the topic of a number of recent research reports. UBS Group reduced their price target on shares of Chemours from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Mizuho started coverage on shares of Chemours in a report on Friday, June 7th. They set a “neutral” rating and a $25.00 target price on the stock. BMO Capital Markets lowered their price target on shares of Chemours from $35.00 to $30.00 and set an “outperform” rating for the company in a research note on Tuesday, August 6th. The Goldman Sachs Group cut their price target on shares of Chemours from $29.00 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, September 3rd. Finally, Barclays decreased their price objective on Chemours from $22.00 to $21.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 25th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $26.63.

Get Our Latest Stock Analysis on Chemours

Institutional Trading of Chemours

Large investors have recently bought and sold shares of the company. William B. Walkup & Associates Inc. purchased a new position in Chemours during the 2nd quarter valued at about $107,000. Scientech Research LLC purchased a new stake in shares of Chemours in the 2nd quarter worth approximately $357,000. Mackenzie Financial Corp increased its position in Chemours by 16.4% during the 2nd quarter. Mackenzie Financial Corp now owns 877,246 shares of the specialty chemicals company’s stock valued at $19,799,000 after buying an additional 123,418 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Chemours by 28.1% in the second quarter. AQR Capital Management LLC now owns 158,585 shares of the specialty chemicals company’s stock worth $3,579,000 after acquiring an additional 34,817 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in Chemours in the second quarter worth $789,000. 76.26% of the stock is owned by institutional investors.

Chemours Stock Down 1.9 %

Shares of NYSE:CC opened at $20.32 on Tuesday. Chemours has a 1 year low of $15.10 and a 1 year high of $32.70. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.89 and a quick ratio of 1.01. The stock’s 50-day moving average is $19.50 and its 200 day moving average is $23.61. The company has a market cap of $3.03 billion, a PE ratio of -9.36 and a beta of 1.74.

Chemours (NYSE:CC – Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The specialty chemicals company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.19). Chemours had a return on equity of 33.21% and a net margin of 2.16%. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the previous year, the business earned $1.10 EPS. The business’s revenue was down 6.4% compared to the same quarter last year. Sell-side analysts anticipate that Chemours will post 1.33 EPS for the current year.

Chemours Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 15th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date of this dividend was Thursday, August 15th. Chemours’s payout ratio is currently -46.08%.

Chemours Company Profile

(Get Free Report)

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.

Further Reading