Chemours Sees Unusually Large Options Volume (NYSE:CC)

The Chemours Company (NYSE:CC) saw some unusual options trading activity on Friday. Stock investors purchased 10,642 call options on the company. This is an increase of 182% compared to the typical volume of 3,771 call options.

Chemours Stock Performance

Shares of CC stock opened at $17.60 on Friday. Chemours has a one year low of $9.13 and a one year high of $21.85. The company’s 50-day moving average is $16.95 and its 200 day moving average is $14.83. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of -7.10 and a beta of 1.60. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.85 and a current ratio of 1.78.

Chemours (NYSE:CC) last released its quarterly earnings data on Thursday, February 19th. The specialty chemicals company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.33 billion. Chemours had a negative net margin of 6.41% and a positive return on equity of 41.75%. Chemours’s revenue was down 2.2% compared to the same quarter last year. During the same period last year, the business earned $0.09 EPS. Sell-side analysts expect that Chemours will post 2.03 EPS for the current fiscal year.

Chemours Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were given a dividend of $0.0875 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a $0.35 annualized dividend and a dividend yield of 2.0%. Chemours’s dividend payout ratio (DPR) is -14.11%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CC. Royal Bank Of Canada restated an “outperform” rating and issued a $18.00 price objective on shares of Chemours in a report on Friday, January 16th. Weiss Ratings reiterated a “sell (d)” rating on shares of Chemours in a report on Wednesday, January 21st. Mizuho boosted their price target on Chemours from $17.00 to $21.00 and gave the stock an “outperform” rating in a research report on Thursday, March 5th. Truist Financial upped their price target on Chemours from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. Finally, JPMorgan Chase & Co. raised their price objective on Chemours from $13.00 to $17.00 and gave the company a “neutral” rating in a research report on Monday, February 23rd. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $18.40.

Hedge Funds Weigh In On Chemours

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund boosted its stake in Chemours by 1.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 34,300 shares of the specialty chemicals company’s stock valued at $404,000 after purchasing an additional 600 shares during the last quarter. Amalgamated Bank raised its stake in shares of Chemours by 1.7% in the third quarter. Amalgamated Bank now owns 43,528 shares of the specialty chemicals company’s stock worth $689,000 after purchasing an additional 740 shares during the last quarter. PFG Investments LLC lifted its holdings in shares of Chemours by 7.6% during the fourth quarter. PFG Investments LLC now owns 12,494 shares of the specialty chemicals company’s stock valued at $147,000 after purchasing an additional 883 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Chemours by 1.2% during the fourth quarter. State of Alaska Department of Revenue now owns 76,257 shares of the specialty chemicals company’s stock valued at $899,000 after purchasing an additional 932 shares in the last quarter. Finally, Man Group plc boosted its position in shares of Chemours by 0.4% during the second quarter. Man Group plc now owns 271,108 shares of the specialty chemicals company’s stock valued at $3,104,000 after buying an additional 979 shares during the last quarter. 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.