Chemours Sees Unusually Large Options Volume (NYSE:CC)

The Chemours Company (NYSE:CC) saw some unusual options trading on Thursday. Investors acquired 6,344 call options on the company. This represents an increase of approximately 65% compared to the typical daily volume of 3,835 call options.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CC shares. Weiss Ratings reissued a “sell (d)” rating on shares of Chemours in a research note on Wednesday, January 21st. Truist Financial lifted their price objective on Chemours from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, January 21st. BMO Capital Markets reissued an “outperform” rating and issued a $20.00 price objective on shares of Chemours in a report on Monday, January 19th. JPMorgan Chase & Co. dropped their price target on shares of Chemours from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, December 3rd. Finally, UBS Group lowered their price objective on Chemours from $21.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, November 11th. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $16.67.

Chemours Trading Down 2.8%

NYSE CC traded down $0.60 during trading on Thursday, hitting $20.56. The stock had a trading volume of 578,585 shares, compared to its average volume of 3,233,761. The company has a market capitalization of $3.08 billion, a PE ratio of -9.27 and a beta of 1.63. Chemours has a twelve month low of $9.13 and a twelve month high of $21.85. The company has a quick ratio of 0.88, a current ratio of 1.71 and a debt-to-equity ratio of 13.66. The firm has a 50 day moving average price of $15.01 and a 200 day moving average price of $14.36.

Chemours Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be given a $0.0875 dividend. This represents a $0.35 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, February 27th. Chemours’s dividend payout ratio (DPR) is currently -15.77%.

Institutional Investors Weigh In On Chemours

Several large investors have recently bought and sold shares of the stock. Cooper Creek Partners Management LLC acquired a new position in shares of Chemours during the third quarter worth about $63,103,000. Scopia Capital Management LP increased its holdings in Chemours by 71.7% in the second quarter. Scopia Capital Management LP now owns 3,355,261 shares of the specialty chemicals company’s stock valued at $38,418,000 after buying an additional 1,401,539 shares during the last quarter. State Street Corp lifted its holdings in Chemours by 22.7% during the 2nd quarter. State Street Corp now owns 6,114,328 shares of the specialty chemicals company’s stock worth $70,009,000 after buying an additional 1,131,682 shares during the last quarter. Wolf Hill Capital Management LP purchased a new position in Chemours in the third quarter valued at approximately $17,025,000. Finally, Sona Asset Management US LLC raised its holdings in Chemours by 176.9% during the fourth quarter. Sona Asset Management US LLC now owns 1,651,275 shares of the specialty chemicals company’s stock worth $19,469,000 after purchasing an additional 1,055,000 shares in the last quarter. Hedge funds and other institutional investors own 76.26% of the company’s stock.

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.