Chemours Sees Unusually Large Options Volume (NYSE:CC)

The Chemours Company (NYSE:CC) was the target of some unusual options trading activity on Friday. Traders bought 10,642 call options on the stock. This is an increase of 182% compared to the average daily volume of 3,771 call options.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CC. UBS Group boosted their price objective on shares of Chemours from $18.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. Truist Financial raised their target price on shares of Chemours from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, January 21st. Jefferies Financial Group restated a “hold” rating and issued a $17.00 target price on shares of Chemours in a research note on Monday, February 23rd. BMO Capital Markets lowered their target price on Chemours from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Monday, February 23rd. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Chemours in a research report on Wednesday, January 21st. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Chemours currently has an average rating of “Hold” and an average target price of $18.40.

Hedge Funds Weigh In On Chemours

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Atlas Capital Advisors Inc. acquired a new stake in Chemours in the 4th quarter valued at approximately $26,000. MTM Investment Management LLC bought a new stake in Chemours during the 2nd quarter valued at $27,000. Aster Capital Management DIFC Ltd acquired a new position in Chemours during the 4th quarter worth $28,000. Covestor Ltd boosted its position in Chemours by 204.7% during the 4th quarter. Covestor Ltd now owns 2,602 shares of the specialty chemicals company’s stock worth $31,000 after acquiring an additional 1,748 shares during the period. Finally, Eurizon Capital SGR S.p.A. bought a new position in shares of Chemours in the fourth quarter worth $31,000. 76.26% of the stock is currently owned by institutional investors and hedge funds.

Chemours Stock Down 0.6%

Chemours stock opened at $17.60 on Friday. The company has a 50-day simple moving average of $16.95 and a 200-day simple moving average of $14.84. The firm has a market capitalization of $2.64 billion, a P/E ratio of -7.10 and a beta of 1.60. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.85 and a current ratio of 1.78. Chemours has a one year low of $9.13 and a one year high of $21.85.

Chemours (NYSE:CC) last issued its quarterly earnings data on Thursday, February 19th. The specialty chemicals company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.04. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.33 billion. Chemours had a negative net margin of 6.41% and a positive return on equity of 41.75%. Chemours’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period last year, the firm posted $0.09 EPS. As a group, equities analysts expect that Chemours will post 2.03 earnings per share for the current year.

Chemours Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were paid a $0.0875 dividend. The ex-dividend date was Friday, February 27th. This represents a $0.35 annualized dividend and a dividend yield of 2.0%. Chemours’s dividend payout ratio (DPR) is presently -14.11%.

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.