The Chemours Company (NYSE:CC) Short Interest Up 19.5% in March

The Chemours Company (NYSE:CC) saw a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 10,530,000 shares, an increase of 19.5% from the February 28th total of 8,810,000 shares. Currently, 7.1% of the company’s shares are short sold. Based on an average trading volume of 2,500,000 shares, the days-to-cover ratio is currently 4.2 days.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Corient Private Wealth LLC boosted its stake in shares of Chemours by 4.7% during the 4th quarter. Corient Private Wealth LLC now owns 13,428 shares of the specialty chemicals company’s stock worth $227,000 after buying an additional 604 shares during the last quarter. GAMMA Investing LLC raised its holdings in Chemours by 99.7% during the fourth quarter. GAMMA Investing LLC now owns 1,532 shares of the specialty chemicals company’s stock worth $26,000 after acquiring an additional 765 shares in the last quarter. HUB Investment Partners LLC raised its holdings in Chemours by 1.4% during the fourth quarter. HUB Investment Partners LLC now owns 58,250 shares of the specialty chemicals company’s stock worth $984,000 after acquiring an additional 821 shares in the last quarter. Itau Unibanco Holding S.A. increased its position in shares of Chemours by 39.3% during the 4th quarter. Itau Unibanco Holding S.A. now owns 3,554 shares of the specialty chemicals company’s stock worth $60,000 after purchasing an additional 1,003 shares during the last quarter. Finally, ARGA Investment Management LP raised its stake in shares of Chemours by 0.7% during the 4th quarter. ARGA Investment Management LP now owns 148,614 shares of the specialty chemicals company’s stock worth $2,512,000 after purchasing an additional 1,032 shares in the last quarter. Institutional investors own 76.26% of the company’s stock.

Chemours Stock Up 0.9 %

Shares of CC traded up $0.12 during midday trading on Wednesday, hitting $13.08. The stock had a trading volume of 4,548,007 shares, compared to its average volume of 1,739,908. The company has a debt-to-equity ratio of 6.70, a current ratio of 1.68 and a quick ratio of 0.92. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of 22.95 and a beta of 1.84. The company has a 50 day simple moving average of $16.15 and a two-hundred day simple moving average of $18.15. Chemours has a twelve month low of $12.61 and a twelve month high of $29.21.

Chemours (NYSE:CC) last announced its earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. Chemours had a return on equity of 26.54% and a net margin of 1.51%. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.37 billion. On average, analysts anticipate that Chemours will post 2.03 EPS for the current year.

Chemours Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 7.65%. The ex-dividend date was Friday, February 28th. Chemours’s payout ratio is 175.44%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CC. The Goldman Sachs Group decreased their price objective on shares of Chemours from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $25.00 price target on shares of Chemours in a report on Thursday, December 12th. BMO Capital Markets dropped their price objective on Chemours from $34.00 to $27.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Mizuho raised Chemours from a “neutral” rating to an “outperform” rating and set a $19.00 target price for the company in a research note on Thursday, March 27th. Finally, Morgan Stanley lowered their price target on Chemours from $25.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Chemours has an average rating of “Moderate Buy” and an average target price of $22.56.

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.