Short Interest in The Chemours Company (NYSE:CC) Rises By 6.8%

The Chemours Company (NYSE:CC) was the target of a large growth in short interest in September. As of September 30th, there was short interest totalling 7,800,000 shares, a growth of 6.8% from the September 15th total of 7,300,000 shares. Based on an average trading volume of 1,390,000 shares, the short-interest ratio is presently 5.6 days. Approximately 5.3% of the shares of the company are short sold.

Analyst Ratings Changes

A number of analysts have recently weighed in on CC shares. JPMorgan Chase & Co. reduced their price objective on shares of Chemours from $25.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. UBS Group cut their target price on shares of Chemours from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Royal Bank of Canada lowered their price target on Chemours from $35.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, October 11th. BMO Capital Markets boosted their price objective on Chemours from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Monday, October 7th. Finally, Barclays lowered their target price on Chemours from $22.00 to $21.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 25th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $25.38.

Chemours Price Performance

Shares of NYSE:CC traded down $0.10 during trading on Thursday, reaching $19.76. The stock had a trading volume of 1,308,661 shares, compared to its average volume of 1,555,171. The stock has a market capitalization of $2.94 billion, a PE ratio of -9.11 and a beta of 1.74. Chemours has a 52 week low of $15.10 and a 52 week high of $32.70. The business’s 50-day moving average price is $18.93 and its 200 day moving average price is $22.97. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.89 and a quick ratio of 1.01.

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 33.21% and a net margin of 2.16%. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period in the prior year, the firm posted $1.10 EPS. Chemours’s revenue for the quarter was down 6.4% compared to the same quarter last year. As a group, equities analysts predict that Chemours will post 1.32 earnings per share for the current year.

Chemours Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 5.06%. The ex-dividend date was Thursday, August 15th. Chemours’s dividend payout ratio is currently -46.08%.

Hedge Funds Weigh In On Chemours

A number of institutional investors have recently modified their holdings of CC. Quadrature Capital Ltd acquired a new stake in shares of Chemours in the 4th quarter valued at $255,000. Alaska Permanent Fund Corp raised its holdings in Chemours by 14.0% during the 1st quarter. Alaska Permanent Fund Corp now owns 84,918 shares of the specialty chemicals company’s stock worth $2,230,000 after purchasing an additional 10,420 shares during the last quarter. Sunbelt Securities Inc. lifted its position in Chemours by 1,969.7% during 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 period. Vaughan Nelson Investment Management L.P. lifted its position in Chemours by 91.5% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 2,645,676 shares of the specialty chemicals company’s stock valued at $69,476,000 after purchasing an additional 1,263,875 shares during the period. Finally, State of Michigan Retirement System boosted its stake in shares of Chemours by 2.5% in the 1st quarter. State of Michigan Retirement System now owns 36,479 shares of the specialty chemicals company’s stock valued at $958,000 after purchasing an additional 900 shares during the last quarter. 76.26% of the stock is owned by institutional investors.

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.