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

The Chemours Company (NYSE:CC) saw some unusual options trading activity on Tuesday. Stock traders bought 50,718 call options on the company. This represents an increase of 892% compared to the typical volume of 5,113 call options.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its stake in Chemours by 79.1% during the first quarter. Bank of America Corp DE now owns 1,317,003 shares of the specialty chemicals company’s stock worth $29,014,000 after purchasing an additional 581,621 shares during the last quarter. Edgestream Partners L.P. increased its position in shares of Chemours by 1,126.4% during the 1st quarter. Edgestream Partners L.P. now owns 294,881 shares of the specialty chemicals company’s stock valued at $6,496,000 after purchasing an additional 270,836 shares during the last quarter. Amundi purchased a new position in shares of Chemours during the 1st quarter valued at about $272,000. California State Teachers Retirement System raised its holdings in shares of Chemours by 18.8% during the 1st quarter. California State Teachers Retirement System now owns 173,103 shares of the specialty chemicals company’s stock valued at $3,813,000 after buying an additional 27,377 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its position in Chemours by 16.4% in the 1st quarter. Quantinno Capital Management LP now owns 364,745 shares of the specialty chemicals company’s stock worth $8,035,000 after buying an additional 51,275 shares during the last quarter. Institutional investors own 76.26% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Mizuho decreased their target price on shares of Chemours from $30.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, July 1st. Truist Financial raised their price target on shares of Chemours from $27.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Alembic Global Advisors restated an “overweight” rating and set a $30.00 price target on shares of Chemours in a research report on Wednesday, May 13th. JPMorgan Chase & Co. upped their price target on shares of Chemours from $17.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, May 21st. Finally, Zacks Research upgraded Chemours from a “strong sell” rating to a “hold” rating in a research report on Friday, April 24th. Six investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Chemours presently has a consensus rating of “Hold” and a consensus price target of $24.10.

Chemours Price Performance

Shares of CC stock traded up $0.56 during trading on Tuesday, hitting $18.68. The company had a trading volume of 1,729,633 shares, compared to its average volume of 3,119,526. The stock’s 50-day moving average is $21.55 and its two-hundred day moving average is $19.56. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of -7.09 and a beta of 1.41. The company has a quick ratio of 0.87, a current ratio of 1.82 and a debt-to-equity ratio of 18.98. Chemours has a 52 week low of $10.44 and a 52 week high of $28.67.

Chemours (NYSE:CC) last released its quarterly earnings results on Tuesday, May 5th. The specialty chemicals company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.10. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Chemours had a negative net margin of 6.82% and a positive return on equity of 52.49%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.13 EPS. As a group, analysts predict that Chemours will post 1.16 EPS for the current fiscal year.

Chemours Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Sunday, May 17th were given a $0.0875 dividend. The ex-dividend date was Friday, May 15th. This represents a $0.35 annualized dividend and a yield of 1.9%. Chemours’s payout ratio is -13.26%.

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.