Chemours Co (NYSE:CC) Short Interest Up 34.8% in August
Chemours Co (NYSE:CC) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 11,297,200 shares, an increase of 34.8% from the July 31st total of 8,381,000 shares. Currently, 7.0% of the company’s shares are short sold. Based on an average daily volume of 3,220,000 shares, the short-interest ratio is presently 3.5 days.
In other news, SVP David C. Shelton purchased 15,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were purchased at an average price of $13.82 per share, for a total transaction of $207,300.00. Following the completion of the purchase, the senior vice president now owns 98,269 shares in the company, valued at approximately $1,358,077.58. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Mary B. Cranston purchased 1,790 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were purchased at an average price of $13.99 per share, for a total transaction of $25,042.10. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 33,790 shares of company stock worth $470,932. Insiders own 2.34% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Investors Research Corp lifted its holdings in shares of Chemours by 148.1% during the second quarter. Investors Research Corp now owns 1,206 shares of the specialty chemicals company’s stock worth $29,000 after purchasing an additional 720 shares during the period. Point72 Hong Kong Ltd purchased a new position in Chemours during the second quarter valued at approximately $29,000. Zions Bancorporation N.A. purchased a new stake in shares of Chemours in the first quarter valued at approximately $30,000. TCG Advisors LP purchased a new stake in shares of Chemours in the first quarter valued at approximately $45,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Chemours by 65.4% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,236 shares of the specialty chemicals company’s stock valued at $83,000 after buying an additional 884 shares in the last quarter. 79.80% of the stock is owned by institutional investors and hedge funds.
CC stock traded down $0.02 during trading on Friday, reaching $16.35. 2,330,000 shares of the company traded hands, compared to its average volume of 2,600,825. Chemours has a 12 month low of $11.71 and a 12 month high of $42.13. The business has a 50 day simple moving average of $14.71 and a 200 day simple moving average of $26.26. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of 2.88, a price-to-earnings-growth ratio of 0.41 and a beta of 2.57. The company has a debt-to-equity ratio of 5.37, a quick ratio of 1.09 and a current ratio of 1.96.
Chemours (NYSE:CC) last issued its quarterly earnings results on Thursday, August 1st. The specialty chemicals company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.18). The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.53 billion. Chemours had a return on equity of 71.90% and a net margin of 10.33%. Chemours’s revenue was down 22.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.71 EPS. As a group, research analysts forecast that Chemours will post 2.6 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 16th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 6.12%. The ex-dividend date of this dividend is Thursday, August 15th. Chemours’s dividend payout ratio is presently 17.64%.
Chemours Company Profile
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, Fluoroproducts, and Chemical Solutions. The Titanium Technologies segment manufactures and sells titanium dioxide under the Ti-Pure and BaiMax brands for various applications in architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride window profiles, laminate papers used for furniture and building materials, and coated papers and paperboards used for packaging.
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