Chemours Target of Unusually Large Options Trading (NYSE:CC)

The Chemours Company (NYSE:CC) was the recipient of some unusual options trading activity on Thursday. Investors acquired 6,344 call options on the company. This is an increase of 65% compared to the typical volume of 3,835 call options.

Wall Street Analyst Weigh In

Several analysts recently commented on CC shares. JPMorgan Chase & Co. reduced their price target on shares of Chemours from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, December 3rd. BMO Capital Markets reissued an “outperform” rating and issued a $20.00 target price on shares of Chemours in a report on Monday, January 19th. Truist Financial lifted their price objective on shares of Chemours from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. UBS Group cut their price target on shares of Chemours from $21.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $18.00 price objective on shares of Chemours in a research report on Friday, January 16th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $16.67.

Hedge Funds Weigh In On Chemours

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Entropy Technologies LP lifted its position in Chemours by 478.3% during the second quarter. Entropy Technologies LP now owns 62,075 shares of the specialty chemicals company’s stock worth $711,000 after buying an additional 51,341 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in Chemours during the third quarter worth approximately $2,124,000. Vision One Management Partners LP boosted its holdings in shares of Chemours by 10.4% in the 2nd quarter. Vision One Management Partners LP now owns 1,720,189 shares of the specialty chemicals company’s stock valued at $19,696,000 after purchasing an additional 161,691 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Chemours by 41.4% during the 2nd quarter. Geode Capital Management LLC now owns 3,484,416 shares of the specialty chemicals company’s stock worth $39,901,000 after buying an additional 1,020,933 shares during the last quarter. Finally, Bryce Point Capital LLC purchased a new position in shares of Chemours in the 2nd quarter worth $955,000. Institutional investors and hedge funds own 76.26% of the company’s stock.

Chemours Price Performance

Chemours stock traded down $0.60 during mid-day trading on Thursday, reaching $20.56. The company had a trading volume of 578,585 shares, compared to its average volume of 3,233,761. The stock’s 50-day simple moving average is $15.01 and its 200-day simple moving average is $14.36. Chemours has a 1 year low of $9.13 and a 1 year high of $21.85. The company has a debt-to-equity ratio of 13.66, a current ratio of 1.71 and a quick ratio of 0.88. The company has a market capitalization of $3.08 billion, a P/E ratio of -9.27 and a beta of 1.63.

Chemours Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be issued a $0.0875 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $0.35 annualized dividend and a yield of 1.7%. Chemours’s dividend payout ratio is -15.77%.

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.