The Chemours Company (NYSE:CC) Short Interest Up 19.5% in March

The Chemours Company (NYSE:CC) was the recipient of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 10,530,000 shares, a growth of 19.5% from the February 28th total of 8,810,000 shares. Currently, 7.1% of the company’s stock are sold short. Based on an average trading volume of 2,500,000 shares, the short-interest ratio is currently 4.2 days.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in shares of Chemours by 99.7% during the 4th quarter. GAMMA Investing LLC now owns 1,532 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 765 shares during the period. Quadrant Capital Group LLC grew its position in Chemours by 100.4% during the fourth quarter. Quadrant Capital Group LLC now owns 2,234 shares of the specialty chemicals company’s stock valued at $38,000 after buying an additional 1,119 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in Chemours during the fourth quarter valued at approximately $48,000. Itau Unibanco Holding S.A. increased its holdings in Chemours by 39.3% during the fourth quarter. Itau Unibanco Holding S.A. now owns 3,554 shares of the specialty chemicals company’s stock valued at $60,000 after buying an additional 1,003 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Chemours in the fourth quarter worth approximately $91,000. Institutional investors own 76.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group reduced their price target on Chemours from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Barclays cut their price target on Chemours from $19.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Morgan Stanley lowered their price objective on Chemours from $25.00 to $22.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. BMO Capital Markets cut their target price on Chemours from $34.00 to $27.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Finally, Truist Financial started coverage on Chemours in a research report on Tuesday, January 28th. They issued a “buy” rating and a $27.00 price target for the company. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.56.

Chemours Stock Performance

NYSE CC traded down $1.40 during trading hours on Thursday, hitting $11.66. The company’s stock had a trading volume of 2,415,082 shares, compared to its average volume of 1,739,820. Chemours has a 12 month low of $11.43 and a 12 month high of $29.21. The company’s 50 day simple moving average is $16.02 and its two-hundred day simple moving average is $18.11. The company has a debt-to-equity ratio of 6.70, a current ratio of 1.68 and a quick ratio of 0.92. The company has a market cap of $1.74 billion, a P/E ratio of 20.46 and a beta of 1.84.

Chemours (NYSE:CC) last announced its quarterly earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.37 billion. Chemours had a net margin of 1.51% and a return on equity of 26.54%. As a group, sell-side analysts expect that Chemours will post 2.03 EPS for the current fiscal year.

Chemours Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.25 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.58%. Chemours’s dividend payout ratio (DPR) is currently 175.44%.

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, 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.