The Chemours Company (NYSE:CC) Short Interest Update

The Chemours Company (NYSE:CC) saw a significant increase in short interest in 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. Based on an average daily volume of 2,500,000 shares, the days-to-cover ratio is currently 4.2 days. Currently, 7.1% of the company’s stock are short sold.

Analyst Ratings Changes

CC has been the subject of several research analyst reports. Barclays lowered their target price on shares of Chemours from $19.00 to $16.00 and set an “equal weight” rating for the company in a report on Tuesday. The Goldman Sachs Group cut their target price on Chemours from $24.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $25.00 target price on shares of Chemours in a research report on Thursday, December 12th. Morgan Stanley cut their price target on Chemours from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Finally, Mizuho upgraded shares of Chemours from a “neutral” rating to an “outperform” rating and set a $19.00 target price on the stock in a research report on Thursday, March 27th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $22.56.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CC. GAMMA Investing LLC lifted its position in shares of 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 purchasing an additional 765 shares in the last quarter. Quadrant Capital Group LLC raised its stake in Chemours by 100.4% during the fourth quarter. Quadrant Capital Group LLC now owns 2,234 shares of the specialty chemicals company’s stock valued at $38,000 after buying an additional 1,119 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in Chemours during the 4th quarter worth approximately $48,000. Itau Unibanco Holding S.A. grew its position in shares of Chemours by 39.3% in the 4th quarter. Itau Unibanco Holding S.A. now owns 3,554 shares of the specialty chemicals company’s stock worth $60,000 after acquiring an additional 1,003 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Chemours during the 4th quarter valued at approximately $91,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Chemours Trading Down 12.6 %

Shares of CC opened at $11.42 on Friday. Chemours has a 1-year low of $11.33 and a 1-year high of $29.21. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 20.03 and a beta of 1.84. The firm has a 50 day simple moving average of $15.85 and a 200-day simple moving average of $18.07. The company has a debt-to-equity ratio of 6.70, a current ratio of 1.68 and a quick ratio of 0.92.

Chemours (NYSE:CC) last released its earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.01. Chemours had a return on equity of 26.54% and a net margin of 1.51%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.37 billion. Equities analysts forecast that Chemours will post 2.03 EPS for the current fiscal year.

Chemours Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.00 annualized dividend and a yield of 8.76%. Chemours’s dividend payout ratio is presently 175.44%.

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.