Short Interest in The Chemours Company (NYSE:CC) Rises By 19.8%

The Chemours Company (NYSE:CC) was the recipient of a significant increase in short interest in August. As of August 15th, there was short interest totalling 6,240,000 shares, an increase of 19.8% from the July 31st total of 5,210,000 shares. Currently, 4.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,390,000 shares, the days-to-cover ratio is currently 4.5 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Spire Wealth Management lifted its holdings in shares of Chemours by 32.2% in the 1st quarter. Spire Wealth Management now owns 1,684 shares of the specialty chemicals company’s stock worth $44,000 after acquiring an additional 410 shares during the last quarter. Burney Co. raised its position in Chemours by 0.3% in the 1st quarter. Burney Co. now owns 197,046 shares of the specialty chemicals company’s stock worth $5,174,000 after purchasing an additional 601 shares during the period. Treasurer of the State of North Carolina lifted its stake in Chemours by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 65,924 shares of the specialty chemicals company’s stock worth $2,079,000 after purchasing an additional 640 shares during the last quarter. Lavaca Capital LLC boosted its position in Chemours by 2.7% during the first quarter. Lavaca Capital LLC now owns 24,658 shares of the specialty chemicals company’s stock valued at $648,000 after buying an additional 641 shares during the period. Finally, Hexagon Capital Partners LLC bought a new position in shares of Chemours during the fourth quarter valued at about $25,000. 76.26% of the stock is currently owned by institutional investors.

Chemours Stock Performance

NYSE CC opened at $19.44 on Monday. Chemours has a 52-week low of $15.10 and a 52-week high of $35.15. The company has a fifty day moving average of $21.50 and a 200-day moving average of $24.72. The company has a market capitalization of $2.90 billion, a P/E ratio of -8.96 and a beta of 1.80. The company has a debt-to-equity ratio of 5.45, a quick ratio of 1.01 and a current ratio of 1.89.

Chemours (NYSE:CC) last issued its quarterly earnings results on Thursday, August 1st. The specialty chemicals company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.19). Chemours had a return on equity of 33.21% and a net margin of 2.16%. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period last year, the firm earned $1.10 EPS. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. As a group, equities research analysts predict that Chemours will post 1.33 EPS for the current fiscal year.

Chemours Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Thursday, August 15th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 5.14%. The ex-dividend date of this dividend is Thursday, August 15th. Chemours’s dividend payout ratio is currently -46.08%.

Analyst Ratings Changes

A number of equities analysts have recently commented on CC shares. BMO Capital Markets cut their price objective on shares of Chemours from $35.00 to $30.00 and set an “outperform” rating for the company in a research report on Tuesday, August 6th. UBS Group cut their price target on shares of Chemours from $30.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Barclays decreased their price target on shares of Chemours from $30.00 to $22.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 6th. Mizuho started coverage on Chemours in a research note on Friday, June 7th. They set a “neutral” rating and a $25.00 price objective for the company. Finally, JPMorgan Chase & Co. reduced their target price on Chemours from $25.00 to $18.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $27.63.

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.