Investors Buy Large Volume of Call Options on Chemours (NYSE:CC)

The Chemours Company (NYSE:CC) was the target of unusually large options trading on Tuesday. Investors purchased 50,718 call options on the stock. This represents an increase of 892% compared to the average daily volume of 5,113 call options.

Institutional Trading of Chemours

A number of hedge funds have recently modified their holdings of CC. Parallel Advisors LLC grew its stake in Chemours by 10.9% during the first quarter. Parallel Advisors LLC now owns 5,366 shares of the specialty chemicals company’s stock worth $118,000 after purchasing an additional 527 shares during the period. Oregon Public Employees Retirement Fund increased its holdings in Chemours by 1.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 34,300 shares of the specialty chemicals company’s stock worth $404,000 after purchasing an additional 600 shares in the last quarter. PFG Investments LLC lifted its stake in Chemours by 7.6% in the fourth quarter. PFG Investments LLC now owns 12,494 shares of the specialty chemicals company’s stock valued at $147,000 after buying an additional 883 shares during the period. State of Alaska Department of Revenue lifted its stake in Chemours by 1.2% in the fourth quarter. State of Alaska Department of Revenue now owns 76,257 shares of the specialty chemicals company’s stock valued at $899,000 after buying an additional 932 shares during the period. Finally, Man Group plc boosted its holdings in shares of Chemours by 0.4% during the 2nd quarter. Man Group plc now owns 271,108 shares of the specialty chemicals company’s stock worth $3,104,000 after buying an additional 979 shares in the last quarter. 76.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CC shares. UBS Group boosted their price objective on shares of Chemours from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Truist Financial boosted their target price on shares of Chemours from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Morgan Stanley upped their price target on shares of Chemours from $17.00 to $21.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Royal Bank Of Canada raised their price target on Chemours from $26.00 to $29.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Finally, Mizuho dropped their price objective on Chemours from $30.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 1st. Six investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Chemours currently has an average rating of “Hold” and a consensus target price of $24.10.

Chemours Stock Up 2.7%

CC opened at $18.60 on Wednesday. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of -7.05 and a beta of 1.41. The company has a debt-to-equity ratio of 18.98, a quick ratio of 0.87 and a current ratio of 1.82. The firm’s 50-day simple moving average is $21.36 and its 200-day simple moving average is $19.60. Chemours has a twelve month low of $10.44 and a twelve month high of $28.67.

Chemours (NYSE:CC) last announced its earnings results on Tuesday, May 5th. The specialty chemicals company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.10. Chemours had a positive return on equity of 52.49% and a negative net margin of 6.82%.The company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the prior year, the business earned $0.13 earnings per share. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. Equities research analysts anticipate that Chemours will post 1.16 EPS for the current fiscal year.

Chemours Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Sunday, May 17th were issued a $0.0875 dividend. This represents a $0.35 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Friday, May 15th. Chemours’s dividend payout ratio is currently -13.26%.

Chemours Company Profile

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.