The Chemours Company (NYSE:CC – Get Free Report) saw a large drop in short interest in November. As of November 15th, there was short interest totalling 5,410,000 shares, a drop of 6.6% from the October 31st total of 5,790,000 shares. Currently, 3.7% of the shares of the company are sold short. Based on an average daily volume of 1,190,000 shares, the short-interest ratio is currently 4.5 days.
Chemours Trading Down 0.3 %
CC stock opened at $29.59 on Tuesday. Chemours has a 52-week low of $22.88 and a 52-week high of $39.05. The company has a quick ratio of 1.08, a current ratio of 1.68 and a debt-to-equity ratio of 5.21. The firm has a market cap of $4.39 billion, a P/E ratio of -14.29 and a beta of 2.00. The company’s 50-day simple moving average is $26.02 and its 200-day simple moving average is $31.13.
Chemours (NYSE:CC – Get Free Report) last issued its quarterly earnings data on Thursday, October 26th. The specialty chemicals company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.13). The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.54 billion. Chemours had a negative net margin of 5.13% and a positive return on equity of 42.13%. As a group, equities analysts forecast that Chemours will post 2.89 EPS for the current fiscal year.
Chemours Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend is Tuesday, November 14th. Chemours’s payout ratio is -48.31%.
Institutional Trading of Chemours
Institutional investors have recently modified their holdings of the stock. American Century Companies Inc. boosted its holdings in Chemours by 0.7% in the 3rd quarter. American Century Companies Inc. now owns 1,459,463 shares of the specialty chemicals company’s stock worth $40,938,000 after buying an additional 10,075 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of Chemours by 4,407.9% in the third quarter. Deutsche Bank AG now owns 1,759,419 shares of the specialty chemicals company’s stock worth $49,352,000 after acquiring an additional 1,720,389 shares during the last quarter. Aurora Investment Counsel increased its position in shares of Chemours by 24.7% during the third quarter. Aurora Investment Counsel now owns 14,922 shares of the specialty chemicals company’s stock worth $419,000 after purchasing an additional 2,956 shares in the last quarter. Invst LLC boosted its stake in Chemours by 3.4% during the 3rd quarter. Invst LLC now owns 23,060 shares of the specialty chemicals company’s stock worth $647,000 after purchasing an additional 754 shares during the last quarter. Finally, Comerica Bank raised its position in shares of Chemours by 3.4% in the third quarter. Comerica Bank now owns 84,610 shares of the specialty chemicals company’s stock valued at $2,373,000 after buying an additional 2,764 shares during the last quarter. Institutional investors and hedge funds own 76.46% of the company’s stock.
Analyst Ratings Changes
CC has been the topic of a number of recent analyst reports. Royal Bank of Canada upgraded shares of Chemours from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $28.00 to $40.00 in a research note on Friday. BMO Capital Markets cut their target price on Chemours from $45.00 to $39.00 and set an “outperform” rating on the stock in a research report on Monday, October 30th. JPMorgan Chase & Co. lowered their price target on Chemours from $38.00 to $26.00 and set a “neutral” rating for the company in a research report on Tuesday, November 7th. Morgan Stanley cut their price objective on Chemours from $33.00 to $28.00 and set an “equal weight” rating on the stock in a report on Monday, October 30th. Finally, Barclays decreased their target price on Chemours from $31.00 to $28.00 and set an “equal weight” rating for the company in a report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Chemours presently has a consensus rating of “Hold” and an average target price of $33.10.
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.