Chemours Target of Unusually High Options Trading (NYSE:CC)

The Chemours Company (NYSE:CC) was the recipient of some unusual options trading on Tuesday. Investors purchased 50,718 call options on the company. This represents an increase of approximately 892% compared to the average daily volume of 5,113 call options.

Chemours Stock Performance

Chemours stock traded up $0.56 during midday trading on Tuesday, reaching $18.68. The stock had a trading volume of 1,729,633 shares, compared to its average volume of 3,119,526. The firm has a market capitalization of $2.81 billion, a PE ratio of -7.09 and a beta of 1.41. Chemours has a 12 month low of $10.44 and a 12 month high of $28.67. The company has a quick ratio of 0.87, a current ratio of 1.82 and a debt-to-equity ratio of 18.98. The firm’s 50-day moving average price is $21.55 and its 200 day moving average price is $19.56.

Chemours (NYSE:CC) last issued its earnings results on Tuesday, May 5th. The specialty chemicals company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.10. The firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.40 billion. Chemours had a negative net margin of 6.82% and a positive return on equity of 52.49%. The company’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the business earned $0.13 earnings per share. As a group, research analysts predict that Chemours will post 1.16 earnings per share for the current fiscal year.

Chemours Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Sunday, May 17th were issued a $0.0875 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.35 annualized dividend and a yield of 1.9%. Chemours’s dividend payout ratio (DPR) is -13.26%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CC. Cooper Creek Partners Management LLC bought a new position in shares of Chemours in the third quarter worth $63,103,000. Scopia Capital Management LP lifted its holdings in Chemours by 71.7% during the 2nd quarter. Scopia Capital Management LP now owns 3,355,261 shares of the specialty chemicals company’s stock worth $38,418,000 after purchasing an additional 1,401,539 shares in 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 purchasing an additional 1,131,682 shares in the last quarter. Sona Asset Management US LLC boosted its stake in Chemours by 176.9% in the 4th 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 during the period. Finally, Goldman Sachs Group Inc. grew its holdings in Chemours by 36.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,701,294 shares of the specialty chemicals company’s stock valued at $43,638,000 after buying an additional 996,012 shares in the last quarter. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CC shares. Zacks Research upgraded Chemours from a “strong sell” rating to a “hold” rating in a research note on Friday, April 24th. Morgan Stanley raised their price objective on shares of Chemours from $17.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. UBS Group lifted their price objective on shares of Chemours from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Truist Financial increased their target price on shares of Chemours from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Finally, JPMorgan Chase & Co. raised their price target on shares of Chemours from $17.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, May 21st. Six investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Chemours currently has a consensus rating of “Hold” and a consensus target price of $24.10.

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.