Investors Buy High Volume of Call Options on Chemours (NYSE:CC)

The Chemours Company (NYSE:CC) was the recipient of unusually large options trading activity on Tuesday. Stock traders acquired 50,718 call options on the stock. This is an increase of approximately 892% compared to the average volume of 5,113 call options.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CC shares. Zacks Research upgraded Chemours from a “strong sell” rating to a “hold” rating in a research report on Friday, April 24th. Truist Financial raised their price target on Chemours from $27.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. UBS Group lifted their price target on Chemours from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Weiss Ratings reissued a “sell (d)” rating on shares of Chemours in a report on Monday, April 20th. Finally, Morgan Stanley raised their price objective on shares of Chemours from $17.00 to $21.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Six investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $24.10.

Chemours Stock Down 0.3%

Shares of CC opened at $18.57 on Thursday. The firm has a market cap of $2.79 billion, a P/E ratio of -7.03 and a beta of 1.41. The stock has a 50 day simple moving average of $21.26 and a two-hundred day simple moving average of $19.65. The company has a debt-to-equity ratio of 18.98, a current ratio of 1.82 and a quick ratio of 0.87. Chemours has a 1 year low of $10.44 and a 1 year high of $28.67.

Chemours (NYSE:CC) last posted its quarterly earnings results on Tuesday, May 5th. The specialty chemicals company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.10. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.40 billion. Chemours had a negative net margin of 6.82% and a positive return on equity of 52.49%. The business’s revenue was up 1.0% compared to the same quarter last year. During the same period last year, the firm posted $0.13 earnings per share. On average, analysts forecast that Chemours will post 1.16 earnings per share for the current fiscal year.

Chemours Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Sunday, May 17th were given a $0.0875 dividend. This represents a $0.35 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Friday, May 15th. Chemours’s dividend payout ratio (DPR) is presently -13.26%.

Institutional Trading of Chemours

Hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC boosted its holdings in Chemours by 478.4% in the fourth quarter. SG Americas Securities LLC now owns 236,236 shares of the specialty chemicals company’s stock valued at $2,785,000 after acquiring an additional 195,393 shares in the last quarter. Hudson Bay Capital Management LP purchased a new stake in shares of Chemours in the 3rd quarter worth about $1,925,000. Penn Capital Management Company LLC bought a new stake in shares of Chemours during the 3rd quarter valued at about $10,325,000. Vanguard Group Inc. boosted its stake in shares of Chemours by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 17,920,868 shares of the specialty chemicals company’s stock valued at $211,287,000 after purchasing an additional 490,778 shares in the last quarter. Finally, Versor Investments LP purchased a new position in shares of Chemours during the fourth quarter valued at about $314,000. 76.26% of the stock is owned by institutional investors.

About Chemours

Chemours Company, established in 2015 as a spin-off from E. I. du Pont de Nemours and Company, is a global chemistry organization headquartered in Wilmington, Delaware. Since its formation, Chemours has focused on delivering performance chemicals that help customers lower their carbon footprint, increase energy efficiency and conserve water. The company operates with a commitment to safety, environmental stewardship and innovation.

Chemours’ principal business activities are organized into three core segments.