Chemours Co. (CC) Sees Strong Trading Volume
Shares of Chemours Co. (NYSE:CC) saw strong trading volume on Wednesday . 18,256,523 shares were traded during mid-day trading, an increase of 240% from the previous session’s volume of 5,367,671 shares.The stock last traded at $5.93 and had previously closed at $7.65.
A number of equities research analysts have recently weighed in on the company. Jefferies Group reissued a “hold” rating on shares of Chemours in a research note on Wednesday, June 15th. Vetr raised Chemours from a “strong sell” rating to a “sell” rating and set a $7.56 target price for the company in a research note on Tuesday, June 14th. Argus reissued a “hold” rating on shares of Chemours in a research note on Friday, May 13th. Zacks Investment Research lowered Chemours from a “buy” rating to a “hold” rating in a research note on Tuesday, May 10th. Finally, Barclays PLC boosted their target price on Chemours from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Monday, May 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. Chemours has an average rating of “Hold” and an average target price of $10.01.
The firm has a 50-day moving average price of $8.84 and a 200-day moving average price of $6.93. The stock’s market cap is $1.08 billion.
Chemours (NYSE:CC) last issued its quarterly earnings data on Monday, May 2nd. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. The business earned $1.30 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same period last year, the firm earned $0.33 EPS. The business’s quarterly revenue was down 4.8% on a year-over-year basis. Analysts expect that Chemours Co. will post $0.68 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Tuesday, May 17th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 2.02%. The ex-dividend date was Friday, May 13th.
In other news, CFO Mark Newman purchased 2,800 shares of the business’s stock in a transaction on Friday, May 13th. The shares were acquired at an average cost of $9.71 per share, with a total value of $27,188.00. Following the completion of the acquisition, the chief financial officer now owns 108,533 shares of the company’s stock, valued at $1,053,855.43. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Bradley J. Bell purchased 10,000 shares of the business’s stock in a transaction on Wednesday, May 4th. The stock was purchased at an average cost of $9.65 per share, for a total transaction of $96,500.00. Following the completion of the acquisition, the director now directly owns 21,747 shares of the company’s stock, valued at approximately $209,858.55. The disclosure for this purchase can be found here.
Other institutional investors have recently added to or reduced their stakes in the company. South Dakota Investment Council raised its position in Chemours by 293.3% in the fourth quarter. South Dakota Investment Council now owns 773,459 shares of the company’s stock valued at $4,146,000 after buying an additional 576,797 shares in the last quarter. Brown Advisory Inc. raised its position in Chemours by 9.1% in the fourth quarter. Brown Advisory Inc. now owns 246,270 shares of the company’s stock valued at $1,320,000 after buying an additional 20,561 shares in the last quarter. Retirement Systems of Alabama raised its position in Chemours by 1.3% in the fourth quarter. Retirement Systems of Alabama now owns 232,559 shares of the company’s stock valued at $1,247,000 after buying an additional 3,045 shares in the last quarter. Cornerstone Capital Management Holdings LLC. raised its position in Chemours by 54.0% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 277,881 shares of the company’s stock valued at $1,489,000 after buying an additional 97,430 shares in the last quarter. Finally, Anchor Capital Advisors LLC purchased a new position in Chemours during the fourth quarter valued at about $1,557,000.
The Chemours Company is a provider of performance chemicals. The Company operates through three segments: Titanium Technologies, Fluoroproducts and Chemical Solutions. The Company’s Titanium Technologies segment manufactures titanium dioxide (TiO2), which is a pigment used to deliver whiteness, opacity, brightness and protection from sunlight in applications, such as architectural and industrial coatings, plastic packaging, polyvinyl chloride (PVC) window profiles, laminate papers, coated paper and coated paperboard used for packaging.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.