Denise Dignam Buys 4,068 Shares of The Chemours Company (NYSE:CC) Stock

The Chemours Company (NYSE:CC) CEO Denise Dignam acquired 4,068 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The stock was acquired at an average price of $12.06 per share, with a total value of $49,060.08. Following the completion of the acquisition, the chief executive officer directly owned 191,546 shares of the company’s stock, valued at $2,310,044.76. This represents a 2.17% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link.

Chemours Stock Up 17.9%

Shares of CC opened at $14.64 on Thursday. The company has a 50-day simple moving average of $12.41 and a 200-day simple moving average of $13.15. The firm has a market capitalization of $2.19 billion, a P/E ratio of -5.23 and a beta of 1.61. The company has a debt-to-equity ratio of 17.16, a quick ratio of 0.83 and a current ratio of 1.68. The Chemours Company has a 52 week low of $9.13 and a 52 week high of $22.38.

Chemours (NYSE:CC) last announced its quarterly earnings data on Tuesday, August 5th. The specialty chemicals company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.12. The business had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.57 billion. Chemours had a negative net margin of 7.19% and a positive return on equity of 35.14%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.38 earnings per share. On average, equities research analysts expect that The Chemours Company will post 2.03 earnings per share for the current year.

Chemours Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 15th will be given a dividend of $0.0875 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 2.4%. Chemours’s dividend payout ratio is currently -12.50%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CC. SG Americas Securities LLC acquired a new position in Chemours in the first quarter worth about $822,000. Principal Financial Group Inc. raised its position in Chemours by 116.3% in the first quarter. Principal Financial Group Inc. now owns 742,119 shares of the specialty chemicals company’s stock worth $10,041,000 after purchasing an additional 399,097 shares in the last quarter. Janney Montgomery Scott LLC raised its position in Chemours by 22.4% in the first quarter. Janney Montgomery Scott LLC now owns 31,886 shares of the specialty chemicals company’s stock worth $431,000 after purchasing an additional 5,843 shares in the last quarter. GAMMA Investing LLC raised its position in Chemours by 1,115.2% in the first quarter. GAMMA Investing LLC now owns 18,617 shares of the specialty chemicals company’s stock worth $252,000 after purchasing an additional 17,085 shares in the last quarter. Finally, Bessemer Group Inc. raised its position in Chemours by 8.7% in the first quarter. Bessemer Group Inc. now owns 38,554 shares of the specialty chemicals company’s stock worth $522,000 after purchasing an additional 3,081 shares in the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CC shares. Royal Bank Of Canada upped their price target on shares of Chemours from $14.00 to $15.00 and gave the company an “outperform” rating in a report on Thursday, July 3rd. UBS Group decreased their price target on shares of Chemours from $18.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. The Goldman Sachs Group decreased their price target on shares of Chemours from $21.00 to $14.00 and set a “neutral” rating for the company in a report on Wednesday, May 14th. Mizuho upped their price target on shares of Chemours from $13.00 to $16.00 and gave the company an “outperform” rating in a report on Tuesday, July 15th. Finally, Wall Street Zen cut shares of Chemours from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $17.38.

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.