The Chemours Company (NYSE:CC) Sees Significant Increase in Short Interest

The Chemours Company (NYSE:CC) saw a large increase in short interest in August. As of August 15th, there was short interest totalling 6,240,000 shares, an increase of 19.8% from the July 31st total of 5,210,000 shares. Based on an average trading volume of 1,390,000 shares, the days-to-cover ratio is currently 4.5 days. Approximately 4.2% of the shares of the company are short sold.

Institutional Trading of Chemours

A number of hedge funds and other institutional investors have recently modified their holdings of CC. Hexagon Capital Partners LLC acquired a new stake in shares of Chemours during the fourth quarter worth $25,000. New Covenant Trust Company N.A. acquired a new stake in shares of Chemours during the first quarter worth $29,000. North Star Investment Management Corp. raised 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 during the period. Sunbelt Securities Inc. raised its position in shares of Chemours by 1,969.7% during the first quarter. Sunbelt Securities Inc. now owns 1,366 shares of the specialty chemicals company’s stock worth $36,000 after purchasing an additional 1,300 shares during the period. Finally, Neo Ivy Capital Management acquired a new stake in shares of Chemours during the fourth quarter worth $40,000. Institutional investors own 76.26% of the company’s stock.

Chemours Trading Up 0.5 %

Shares of CC stock opened at $19.44 on Friday. Chemours has a 1 year low of $15.10 and a 1 year high of $35.15. The company has a debt-to-equity ratio of 5.26, a quick ratio of 0.99 and a current ratio of 1.61. The stock has a fifty day moving average of $21.50 and a two-hundred day moving average of $24.77. The firm has a market capitalization of $2.89 billion, a PE ratio of -8.96 and a beta of 1.80.

Chemours (NYSE:CC) last posted its quarterly earnings data 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 32.93% and a net margin of 2.16%. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the prior year, the firm posted $1.10 EPS. The firm’s quarterly revenue was down 6.4% on a year-over-year basis. As a group, research analysts expect that Chemours will post 1.81 EPS for the current year.

Chemours Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 15th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.14%. The ex-dividend date of this dividend is Thursday, August 15th. Chemours’s dividend payout ratio is presently -46.08%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. reduced their price objective on Chemours from $25.00 to $18.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. UBS Group reduced their price objective on Chemours from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. BMO Capital Markets reduced their price objective on Chemours from $35.00 to $30.00 and set an “outperform” rating for the company in a research report on Tuesday, August 6th. Mizuho started coverage on Chemours in a research report on Friday, June 7th. They set a “neutral” rating and a $25.00 price objective for the company. Finally, Barclays reduced their price target on Chemours from $30.00 to $22.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 6th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $27.63.

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.