Short Interest in The Chemours Company (NYSE:CC) Rises By 22.1%

by · The Markets Daily

The Chemours Company (NYSE:CC – Get Free Report) was the target of a large growth in short interest in March. As of March 31st, there was short interest totalling 12,860,000 shares, a growth of 22.1% from the March 15th total of 10,530,000 shares. Currently, 8.7% of the shares of the company are sold short. Based on an average daily trading volume, of 2,840,000 shares, the short-interest ratio is presently 4.5 days.

Chemours Trading Down 0.3 %

NYSE CC traded down $0.03 on Monday, hitting $11.33. The company’s stock had a trading volume of 2,257,996 shares, compared to its average volume of 1,839,912. The company has a current ratio of 1.68, a quick ratio of 0.92 and a debt-to-equity ratio of 6.70. The firm has a market cap of $1.69 billion, a P/E ratio of 19.88 and a beta of 1.84. The company’s 50-day simple moving average is $13.83 and its 200 day simple moving average is $17.30. Chemours has a 52-week low of $9.33 and a 52-week high of $29.21.

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

Chemours Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.83%. The ex-dividend date of this dividend was Friday, February 28th. Chemours’s dividend payout ratio (DPR) is presently 175.44%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CC shares. Barclays decreased their target price on Chemours from $19.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 1st. Truist Financial lowered their target price on shares of Chemours from $27.00 to $22.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. BMO Capital Markets dropped their price objective on shares of Chemours from $34.00 to $27.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Mizuho set a $15.00 price objective on Chemours in a research report on Tuesday, April 15th. Finally, Morgan Stanley reduced their price target on shares of Chemours from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Chemours currently has an average rating of “Moderate Buy” and an average target price of $21.56.

View Our Latest Report on Chemours

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CC. Corient Private Wealth LLC lifted its stake in shares of Chemours by 4.7% in the 4th quarter. Corient Private Wealth LLC now owns 13,428 shares of the specialty chemicals company’s stock worth $227,000 after purchasing an additional 604 shares during the period. GAMMA Investing LLC boosted its stake in shares of Chemours by 99.7% during the 4th quarter. GAMMA Investing LLC now owns 1,532 shares of the specialty chemicals company’s stock worth $26,000 after acquiring an additional 765 shares during the last quarter. HUB Investment Partners LLC increased its stake in shares of Chemours by 1.4% in the 4th quarter. HUB Investment Partners LLC now owns 58,250 shares of the specialty chemicals company’s stock worth $984,000 after purchasing an additional 821 shares in the last quarter. UMB Bank n.a. raised its holdings in Chemours by 73.9% in the 1st quarter. UMB Bank n.a. now owns 2,231 shares of the specialty chemicals company’s stock worth $30,000 after purchasing an additional 948 shares during the period. Finally, Itau Unibanco Holding S.A. increased its position in Chemours by 39.3% in the fourth quarter. Itau Unibanco Holding S.A. now owns 3,554 shares of the specialty chemicals company’s stock worth $60,000 after buying an additional 1,003 shares in the last quarter. 76.26% of the stock is currently owned by institutional investors.

Chemours Company Profile

(Get Free Report)

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.

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