Short Interest in The Chemours Company (NYSE:CC) Expands By 9.4%

The Chemours Company (NYSE:CC) was the recipient of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 5,340,000 shares, an increase of 9.4% from the March 31st total of 4,880,000 shares. Based on an average trading volume of 2,040,000 shares, the short-interest ratio is currently 2.6 days. Currently, 3.6% of the shares of the company are sold short.

Chemours Trading Down 2.6 %

Shares of NYSE CC traded down $0.73 during midday trading on Tuesday, reaching $26.96. 491,944 shares of the stock were exchanged, compared to its average volume of 1,811,820. The company has a 50 day simple moving average of $26.69 and a 200 day simple moving average of $27.84. The stock has a market capitalization of $4.01 billion, a P/E ratio of -17.86 and a beta of 2.00. The company has a debt-to-equity ratio of 5.40, a quick ratio of 1.00 and a current ratio of 1.54. Chemours has a twelve month low of $15.10 and a twelve month high of $39.05.

Chemours (NYSE:CC) last announced its quarterly earnings results on Wednesday, March 27th. The specialty chemicals company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.37 billion. Chemours had a negative net margin of 3.80% and a positive return on equity of 51.73%. As a group, equities analysts expect that Chemours will post 2.23 earnings per share for the current year.

Chemours Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, February 26th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.00 annualized dividend and a yield of 3.71%. Chemours’s dividend payout ratio (DPR) is presently -64.52%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CC shares. Barclays cut their price target on Chemours from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 2nd. BMO Capital Markets raised Chemours from an “underperform” rating to an “outperform” rating and increased their price target for the stock from $19.00 to $34.00 in a research report on Tuesday, April 9th. Finally, UBS Group increased their price target on Chemours from $21.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $31.63.

Institutional Trading of Chemours

Institutional investors have recently added to or reduced their stakes in the stock. Hexagon Capital Partners LLC purchased a new position in Chemours in the 4th quarter valued at approximately $25,000. Legacy Financial Group LLC purchased a new position in Chemours in the 3rd quarter valued at approximately $29,000. Morton Brown Family Wealth LLC purchased a new position in Chemours in the 4th quarter valued at approximately $35,000. Sunbelt Securities Inc. boosted its position in Chemours by 1,969.7% in the 1st quarter. Sunbelt Securities Inc. now owns 1,366 shares of the specialty chemicals company’s stock valued at $36,000 after buying an additional 1,300 shares during the period. Finally, Neo Ivy Capital Management purchased a new position in Chemours in the 4th quarter valued at approximately $40,000. Institutional investors and hedge funds own 76.26% of the company’s stock.

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.