Short Interest in The Chemours Company (NYSE:CC) Increases By 7.7%

The Chemours Company (NYSE:CC – Get Rating) saw a significant increase in short interest in February. As of February 28th, there was short interest totalling 4,480,000 shares, an increase of 7.7% from the February 13th total of 4,160,000 shares. Based on an average daily trading volume, of 1,060,000 shares, the short-interest ratio is currently 4.2 days. Approximately 3.1% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CC shares. Credit Suisse Group lifted their target price on Chemours from $24.00 to $27.00 and gave the company an “underperform” rating in a research note on Friday, February 10th. The Goldman Sachs Group lifted their target price on shares of Chemours from $34.00 to $38.00 and gave the company a “neutral” rating in a report on Tuesday, February 14th. StockNews.com assumed coverage on Chemours in a report on Thursday. They issued a “hold” rating on the stock. Royal Bank of Canada lifted their price target on Chemours from $33.00 to $36.00 and gave the company a “sector perform” rating in a research note on Monday, February 13th. Finally, Citigroup raised their target price on Chemours from $33.00 to $35.00 and gave the company a “neutral” rating in a report on Monday, February 13th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $36.33.

Chemours Trading Down 3.2 %

NYSE CC traded down $0.94 during trading hours on Friday, hitting $28.45. 367,524 shares of the company’s stock were exchanged, compared to its average volume of 1,025,434. Chemours has a 12-month low of $23.58 and a 12-month high of $44.95. The business’s 50 day moving average is $33.92 and its 200-day moving average is $31.60. The company has a debt-to-equity ratio of 3.24, a quick ratio of 0.96 and a current ratio of 1.70. The firm has a market capitalization of $4.23 billion, a P/E ratio of 7.94, a price-to-earnings-growth ratio of 1.24 and a beta of 1.88.

Chemours Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Friday, February 24th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, February 23rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.51%. Chemours’s payout ratio is 28.01%.

Insider Buying and Selling at Chemours

In related news, insider Alisha Bellezza sold 27,716 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $35.47, for a total value of $983,086.52. Following the completion of the transaction, the insider now directly owns 43,931 shares of the company’s stock, valued at $1,558,232.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.04% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CC. Sheets Smith Wealth Management purchased a new position in Chemours in the third quarter valued at about $274,000. Inscription Capital LLC acquired a new position in Chemours in the 2nd quarter worth $796,000. Creative Planning boosted its position in Chemours by 11.5% in the 3rd quarter. Creative Planning now owns 13,222 shares of the specialty chemicals company’s stock valued at $326,000 after buying an additional 1,368 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Chemours by 39.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,605,528 shares of the specialty chemicals company’s stock valued at $39,577,000 after acquiring an additional 452,857 shares in the last quarter. Finally, SeaCrest Wealth Management LLC acquired a new position in shares of Chemours in the second quarter worth about $74,000. Institutional investors and hedge funds own 71.89% of the company’s stock.

Chemours Company Profile

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The Chemours Co is a holding company, which engages in the provision of performance chemicals. The firm delivers solutions, which include a range of industrial and chemical products for markets including coatings, plastics, refrigeration and air conditioning, transportation, semiconductor and consumer electronics, and general industrial.