Short Interest in The Chemours Company (NYSE:CC) Increases By 7.4%

The Chemours Company (NYSE:CC) was the recipient of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 5,790,000 shares, a growth of 7.4% from the October 15th total of 5,390,000 shares. Based on an average daily volume of 1,170,000 shares, the short-interest ratio is presently 4.9 days. Currently, 4.0% of the company’s stock are sold short.

Institutional Trading of Chemours

Several institutional investors and hedge funds have recently made changes to their positions in CC. Creative Planning raised its position in Chemours by 47.5% in the 3rd quarter. Creative Planning now owns 30,498 shares of the specialty chemicals company’s stock worth $855,000 after purchasing an additional 9,825 shares during the period. Tudor Investment Corp Et Al raised its position in Chemours by 10,530.9% in the 3rd quarter. Tudor Investment Corp Et Al now owns 219,049 shares of the specialty chemicals company’s stock worth $6,144,000 after purchasing an additional 221,149 shares during the period. Morgan Stanley raised its position in Chemours by 2.0% in the 3rd quarter. Morgan Stanley now owns 1,168,564 shares of the specialty chemicals company’s stock worth $32,778,000 after purchasing an additional 23,125 shares during the period. The Manufacturers Life Insurance Company raised its position in Chemours by 11.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 124,760 shares of the specialty chemicals company’s stock worth $3,500,000 after purchasing an additional 13,273 shares during the period. Finally, Royal Bank of Canada raised its position in Chemours by 1.5% in the 3rd quarter. Royal Bank of Canada now owns 162,115 shares of the specialty chemicals company’s stock worth $4,548,000 after purchasing an additional 2,379 shares during the period. Hedge funds and other institutional investors own 76.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CC shares. The Goldman Sachs Group lowered their target price on shares of Chemours from $35.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, October 31st. Royal Bank of Canada lowered their target price on shares of Chemours from $30.00 to $28.00 and set a “sector perform” rating on the stock in a report on Monday, October 30th. Morgan Stanley lowered their target price on shares of Chemours from $33.00 to $28.00 and set an “equal weight” rating on the stock in a report on Monday, October 30th. Barclays decreased their price objective on shares of Chemours from $31.00 to $28.00 and set an “equal weight” rating for the company in a research note on Monday, October 30th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Chemours from $38.00 to $26.00 and set a “neutral” rating for the company in a research note on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $31.90.

Chemours Price Performance

NYSE CC traded up $0.79 on Friday, hitting $27.28. The stock had a trading volume of 1,519,488 shares, compared to its average volume of 1,266,863. Chemours has a 52-week low of $22.88 and a 52-week high of $39.05. The company has a debt-to-equity ratio of 5.21, a quick ratio of 1.08 and a current ratio of 1.68. The company has a market capitalization of $4.05 billion, a price-to-earnings ratio of -13.18 and a beta of 2.01. The firm has a 50-day moving average of $26.93 and a 200-day moving average of $31.24.

Chemours (NYSE:CC) last posted its earnings results on Thursday, October 26th. The specialty chemicals company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.13). Chemours had a positive return on equity of 42.13% and a negative net margin of 5.13%. The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Equities analysts expect that Chemours will post 2.88 EPS for the current year.

Chemours Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.67%. The ex-dividend date is Tuesday, November 14th. Chemours’s dividend payout ratio (DPR) is currently -48.31%.

About Chemours

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.