Stock Traders Purchase Large Volume of Call Options on Chemours (NYSE:CC)

The Chemours Company (NYSE:CC) was the target of unusually large options trading on Tuesday. Stock investors purchased 33,698 call options on the company. This is an increase of approximately 457% compared to the typical daily volume of 6,050 call options.

Hedge Funds Weigh In On Chemours

Several institutional investors have recently modified their holdings of the company. Parallel Advisors LLC increased its position in shares of Chemours by 10.9% during the 1st quarter. Parallel Advisors LLC now owns 5,366 shares of the specialty chemicals company’s stock valued at $118,000 after purchasing an additional 527 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Chemours by 1.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 34,300 shares of the specialty chemicals company’s stock valued at $404,000 after purchasing an additional 600 shares during the last quarter. Amalgamated Bank increased its position in shares of Chemours by 1.7% during the 3rd quarter. Amalgamated Bank now owns 43,528 shares of the specialty chemicals company’s stock valued at $689,000 after purchasing an additional 740 shares during the last quarter. PFG Investments LLC boosted its holdings in Chemours by 7.6% during the 4th quarter. PFG Investments LLC now owns 12,494 shares of the specialty chemicals company’s stock valued at $147,000 after acquiring an additional 883 shares during the period. Finally, State of Alaska Department of Revenue boosted its holdings in Chemours by 1.2% during the 4th quarter. State of Alaska Department of Revenue now owns 76,257 shares of the specialty chemicals company’s stock valued at $899,000 after acquiring an additional 932 shares during the period. 76.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CC. Zacks Research raised Chemours from a “strong sell” rating to a “hold” rating in a report on Friday, April 24th. Truist Financial upped their target price on Chemours from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. BMO Capital Markets decreased their target price on Chemours from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Monday, February 23rd. UBS Group upped their target price on Chemours from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Finally, The Goldman Sachs Group upped their target price on Chemours from $14.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 25th. Six investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Chemours currently has a consensus rating of “Hold” and an average target price of $23.09.

Chemours Price Performance

NYSE CC traded down $0.77 during trading on Tuesday, reaching $22.17. The company’s stock had a trading volume of 2,008,552 shares, compared to its average volume of 3,338,453. The stock has a market capitalization of $3.33 billion, a PE ratio of -8.39 and a beta of 1.47. The company has a debt-to-equity ratio of 18.98, a current ratio of 1.82 and a quick ratio of 0.87. The firm has a fifty day moving average of $22.09 and a 200 day moving average of $17.13. Chemours has a one year low of $9.13 and a one year high of $28.67.

Chemours (NYSE:CC) last announced its earnings results on Tuesday, May 5th. The specialty chemicals company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.10. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.40 billion. Chemours had a positive return on equity of 52.49% and a negative net margin of 6.82%.The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.13 EPS. Analysts expect that Chemours will post 1.31 EPS for the current fiscal year.

Chemours Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Sunday, May 17th will be given a dividend of $0.0875 per share. The ex-dividend date is Friday, May 15th. This represents a $0.35 annualized dividend and a dividend yield of 1.6%. Chemours’s dividend payout ratio is -13.26%.

About Chemours

Chemours Company, established in 2015 as a spin-off from E. I. du Pont de Nemours and Company, is a global chemistry organization headquartered in Wilmington, Delaware. Since its formation, Chemours has focused on delivering performance chemicals that help customers lower their carbon footprint, increase energy efficiency and conserve water. The company operates with a commitment to safety, environmental stewardship and innovation.

Chemours’ principal business activities are organized into three core segments.