The Chemours Company (NYSE:CC) Short Interest Update

The Chemours Company (NYSE:CC) saw a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 5,340,000 shares, an increase of 9.4% from the March 31st total of 4,880,000 shares. Approximately 3.6% of the company’s stock are short sold. Based on an average daily trading volume, of 2,040,000 shares, the days-to-cover ratio is presently 2.6 days.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CC. CWM LLC increased its holdings in shares of Chemours by 41.3% in the third quarter. CWM LLC now owns 3,495 shares of the specialty chemicals company’s stock valued at $98,000 after purchasing an additional 1,021 shares during the period. IFP Advisors Inc boosted its position in Chemours by 39.0% in the third quarter. IFP Advisors Inc now owns 2,232 shares of the specialty chemicals company’s stock valued at $63,000 after buying an additional 626 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in Chemours by 1.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 77,617 shares of the specialty chemicals company’s stock worth $2,177,000 after buying an additional 1,360 shares during the period. Legacy Financial Group LLC purchased a new position in Chemours during the 3rd quarter worth approximately $29,000. Finally, Bank of New York Mellon Corp lifted its stake in Chemours by 11.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 6,196,063 shares of the specialty chemicals company’s stock valued at $173,800,000 after acquiring an additional 612,071 shares during the period. Institutional investors and hedge funds own 76.26% of the company’s stock.

Chemours Stock Performance

Shares of CC opened at $25.97 on Thursday. Chemours has a 12 month low of $15.10 and a 12 month high of $39.05. The stock has a fifty day moving average price of $26.66 and a 200-day moving average price of $27.85. The company has a current ratio of 1.54, a quick ratio of 1.00 and a debt-to-equity ratio of 5.40. The firm has a market cap of $3.87 billion, a PE ratio of -16.75 and a beta of 2.00.

Chemours (NYSE:CC) last released its quarterly earnings results on Tuesday, April 30th. The specialty chemicals company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.07. Chemours had a positive return on equity of 51.73% and a negative net margin of 3.80%. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period last year, the business posted $0.98 earnings per share. The firm’s revenue was down 12.1% compared to the same quarter last year. Equities research analysts predict that Chemours will post 2.23 earnings per share for the current fiscal year.

Chemours Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.85%. The ex-dividend date of this dividend is Tuesday, May 14th. Chemours’s dividend payout ratio is presently -64.52%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. BMO Capital Markets upgraded Chemours from an “underperform” rating to an “outperform” rating and upped their target price for the stock from $19.00 to $34.00 in a report on Tuesday, April 9th. UBS Group upped their price objective on Chemours from $21.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Finally, Barclays dropped their price objective on Chemours from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 2nd. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $31.63.

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.