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

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

Institutional Investors Weigh In On Chemours

A number of large investors have recently added to or reduced their stakes in CC. Hexagon Capital Partners LLC acquired a new stake in Chemours during the 4th quarter valued at $25,000. Legacy Financial Group LLC acquired a new stake in Chemours during the 3rd quarter valued at $29,000. Morton Brown Family Wealth LLC acquired a new stake in Chemours during the 4th quarter valued at $35,000. Sunbelt Securities Inc. grew its holdings in Chemours by 1,969.7% during the 1st quarter. Sunbelt Securities Inc. now owns 1,366 shares of the specialty chemicals company’s stock valued at $36,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in Chemours during the 4th quarter valued at $40,000. 76.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Chemours Trading Down 2.6 %

Shares of Chemours stock traded down $0.73 during trading hours on Tuesday, hitting $26.96. The company’s stock had a trading volume of 491,944 shares, compared to its average volume of 1,811,820. Chemours has a 1-year low of $15.10 and a 1-year high of $39.05. The business has a fifty day moving average of $26.69 and a 200 day moving average of $27.84. The company has a market capitalization of $4.01 billion, a PE ratio of -17.86 and a beta of 2.00. The company has a quick ratio of 1.00, a current ratio of 1.54 and a debt-to-equity ratio of 5.40.

Chemours (NYSE:CC) last released its quarterly earnings data on Wednesday, March 27th. The specialty chemicals company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.02. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates 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 forecast that Chemours will post 2.23 EPS for the current year.

Chemours Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, February 26th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date was Friday, February 23rd. Chemours’s payout ratio is -64.52%.

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.