The Chemours Company (NYSE:CC) Short Interest Update

The Chemours Company (NYSE:CC) was the recipient of a significant increase in short interest during the month of September. As of September 15th, there was short interest totalling 7,300,000 shares, an increase of 13.0% from the August 31st total of 6,460,000 shares. Based on an average daily volume of 1,350,000 shares, the short-interest ratio is currently 5.4 days. Currently, 5.0% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CC. UBS Group dropped their price target on Chemours from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. JPMorgan Chase & Co. cut their target price on shares of Chemours from $25.00 to $18.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. The Goldman Sachs Group reduced their price target on shares of Chemours from $29.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, September 3rd. Mizuho began coverage on shares of Chemours in a research note on Friday, June 7th. They set a “neutral” rating and a $25.00 price objective on the stock. Finally, Barclays reduced their price objective on shares of Chemours from $22.00 to $21.00 and set an “equal weight” rating for the company in a research note on Wednesday. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $26.63.

Institutional Investors Weigh In On Chemours

A number of institutional investors have recently added to or reduced their stakes in CC. New Covenant Trust Company N.A. purchased a new stake in Chemours during the 1st quarter worth approximately $29,000. North Star Investment Management Corp. increased its position in shares of Chemours by 1,510.0% during the first quarter. North Star Investment Management Corp. now owns 1,288 shares of the specialty chemicals company’s stock worth $34,000 after purchasing an additional 1,208 shares in the last quarter. Sunbelt Securities Inc. raised its stake in Chemours by 1,969.7% in the 1st quarter. Sunbelt Securities Inc. now owns 1,366 shares of the specialty chemicals company’s stock valued at $36,000 after purchasing an additional 1,300 shares during the last quarter. Neo Ivy Capital Management purchased a new position in Chemours in the 4th quarter valued at $40,000. Finally, Headlands Technologies LLC acquired a new stake in Chemours during the 1st quarter worth $42,000. Institutional investors and hedge funds own 76.26% of the company’s stock.

Chemours Stock Performance

NYSE:CC traded down $0.08 during midday trading on Friday, hitting $20.72. The company’s stock had a trading volume of 1,577,082 shares, compared to its average volume of 1,568,811. Chemours has a fifty-two week low of $15.10 and a fifty-two week 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 firm has a market cap of $3.09 billion, a P/E ratio of -9.55 and a beta of 1.74. The firm’s 50 day moving average is $19.57 and its 200-day moving average is $23.68.

Chemours (NYSE:CC) last released its quarterly earnings data on Thursday, August 1st. The specialty chemicals company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.19). Chemours had a return on equity of 33.21% and a net margin of 2.16%. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the prior year, the company posted $1.10 EPS. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. Equities analysts anticipate that Chemours will post 1.33 earnings per share for the current fiscal year.

Chemours Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.83%. The ex-dividend date was Thursday, August 15th. Chemours’s payout ratio is -46.08%.

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.