Insider Buying: Chemours (NYSE:CC) CEO Buys $50,501.10 in Stock

The Chemours Company (NYSE:CC) CEO Denise Dignam bought 3,378 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was acquired at an average cost of $14.95 per share, with a total value of $50,501.10. Following the transaction, the chief executive officer owned 339,916 shares of the company’s stock, valued at $5,081,744.20. This represents a 1.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Chemours Stock Down 0.1%

Shares of NYSE CC traded down $0.01 during mid-day trading on Thursday, hitting $15.23. The company had a trading volume of 3,639,033 shares, compared to its average volume of 3,109,865. The company has a market capitalization of $2.29 billion, a PE ratio of -7.97 and a beta of 1.43. The firm has a 50-day simple moving average of $18.76 and a two-hundred day simple moving average of $20.03. The company has a current ratio of 1.66, a quick ratio of 0.88 and a debt-to-equity ratio of 18.98. The Chemours Company has a one year low of $10.44 and a one year high of $28.67.

Chemours (NYSE:CC) last issued its quarterly earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.07). The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.65 billion. Chemours had a negative net margin of 5.00% and a positive return on equity of 60.64%. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period last year, the company posted ($2.54) earnings per share. On average, equities analysts expect that The Chemours Company will post 0.88 EPS for the current year.

Chemours Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be given a $0.0875 dividend. This represents a $0.35 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, August 14th. Chemours’s dividend payout ratio (DPR) is -18.32%.

Institutional Trading of Chemours

Several hedge funds and other institutional investors have recently modified their holdings of CC. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Chemours in the 1st quarter valued at $3,745,000. Versor Investments LP acquired a new stake in shares of Chemours during the fourth quarter worth $314,000. Penn Capital Management Company LLC lifted its holdings in shares of Chemours by 113.0% during the fourth quarter. Penn Capital Management Company LLC now owns 1,386,819 shares of the specialty chemicals company’s stock worth $16,366,000 after buying an additional 735,668 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Chemours by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 17,920,868 shares of the specialty chemicals company’s stock valued at $211,287,000 after acquiring an additional 490,778 shares during the period. Finally, Legal & General Group Plc grew its stake in shares of Chemours by 19.9% in the fourth quarter. Legal & General Group Plc now owns 2,139,617 shares of the specialty chemicals company’s stock valued at $25,226,000 after acquiring an additional 355,074 shares in the last quarter. Institutional investors own 76.26% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Royal Bank Of Canada dropped their target price on shares of Chemours from $26.00 to $22.00 and set an “outperform” rating on the stock in a report on Thursday, August 6th. Morgan Stanley set a $18.00 price objective on Chemours in a research note on Monday. JPMorgan Chase & Co. cut their price objective on Chemours from $22.00 to $15.00 and set a “neutral” rating for the company in a research report on Thursday. Truist Financial reduced their target price on Chemours from $30.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $17.00 target price on shares of Chemours in a report on Thursday. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $20.10.

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.