Chemours (NYSE:CC) CEO Denise Dignam Acquires 3,378 Shares

The Chemours Company (NYSE:CC) CEO Denise Dignam bought 3,378 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were acquired at an average price of $14.95 per share, with a total value of $50,501.10. Following the purchase, the chief executive officer owned 339,916 shares in the company, valued at $5,081,744.20. This trade represents a 1.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Chemours Stock Performance

Shares of NYSE CC opened at $15.23 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.66 and a debt-to-equity ratio of 18.98. The business’s 50 day moving average is $18.63 and its two-hundred day moving average is $20.03. The company has a market cap of $2.29 billion, a P/E ratio of -7.97 and a beta of 1.43. The Chemours Company has a 12 month low of $10.44 and a 12 month high of $28.67.

Chemours (NYSE:CC) last issued its quarterly earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.07). The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.65 billion. Chemours had a positive return on equity of 60.64% and a negative net margin of 5.00%.The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($2.54) earnings per share. On average, equities analysts expect that The Chemours Company will post 0.88 EPS for the current year.

Chemours Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be paid a dividend of $0.0875 per share. This represents a $0.35 annualized dividend and a yield of 2.3%. The ex-dividend date is Friday, August 14th. Chemours’s dividend payout ratio is presently -18.32%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CC shares. JPMorgan Chase & Co. dropped their price objective on shares of Chemours from $22.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday. UBS Group reiterated a “neutral” rating and issued a $18.00 target price (down from $29.00) on shares of Chemours in a research note on Monday. Weiss Ratings downgraded Chemours from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, August 6th. Zacks Research downgraded Chemours from a “strong-buy” rating to a “strong sell” rating in a research report on Tuesday. Finally, Truist Financial lowered their price target on Chemours from $30.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $20.10.

Institutional Investors Weigh In On Chemours

Institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC increased its holdings in Chemours by 10.9% in the 1st quarter. Parallel Advisors LLC now owns 5,366 shares of the specialty chemicals company’s stock valued at $118,000 after buying an additional 527 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings 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 worth $404,000 after acquiring an additional 600 shares during the period. PFG Investments LLC boosted its position in shares of 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 in the last quarter. State of Alaska Department of Revenue boosted its position in shares of 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 in the last quarter. Finally, Man Group plc increased its stake in Chemours by 0.4% in the second quarter. Man Group plc now owns 271,108 shares of the specialty chemicals company’s stock valued at $3,104,000 after acquiring an additional 979 shares during the period. Institutional investors and hedge funds own 76.26% of the company’s stock.

Chemours News Summary

Here are the key news stories impacting Chemours this week:

• Positive Sentiment: CEO Denise Dignam purchased 3,378 shares at an average price of $14.95, investing approximately $50,500 and increasing her ownership by 1%. SEC filing on Denise Dignam’s purchase
• Positive Sentiment: Insider Gerardo Familiar Calderon bought 1,935 shares at an average price of $15.53, spending about $30,000 and increasing his stake by 3.42%. The purchases may signal that insiders view the recent weakness as an opportunity. SEC filing on Gerardo Familiar Calderon’s purchase
• Neutral Sentiment: BMO Capital Markets reduced its price target from $26 to $18 but maintained an “outperform” rating. The revised target still implies meaningful upside, although the cut reflects lower near-term expectations. The Fly report on BMO’s Chemours rating
• Negative Sentiment: JPMorgan lowered its price target from $22 to $15 and retained a “neutral” rating, placing its target roughly in line with the current share price and reducing support for a near-term rebound. Benzinga report on JPMorgan’s Chemours rating
• Negative Sentiment: Zacks Research downgraded Chemours from “strong buy” to “strong sell,” adding the most bearish analyst signal among the recent updates. Zacks Research report on Chemours

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.