The Chemours Company (NYSE:CC) Shareholders Set to Receive $0.09 Quarterly Dividend

The Chemours Company (NYSE:CC) declared a quarterly dividend on Tuesday, October 27th. Shareholders of record on Monday, November 16th will be paid a dividend of $0.0875 per share by the specialty chemicals company on Tuesday, December 15th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, November 16th.

Chemours has decreased its dividend by an average of 0.1% annually over the last three years. Chemours has a payout ratio of 14.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Chemours to earn $1.92 per share next year, which means the company should continue to be able to cover its $0.35 annual dividend with an expected future payout ratio of 18.2%.

Chemours Stock Performance

NYSE:CC opened at $13.34 on Wednesday. Chemours has a 52 week low of $10.44 and a 52 week high of $28.67. The stock’s 50-day moving average price is $14.36 and its 200-day moving average price is $18.29.

Chemours (NYSE:CC) last announced its quarterly earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.07). The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.65 billion. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($2.54) EPS. As a group, equities research analysts anticipate that Chemours will post 0.83 EPS for the current fiscal year.

Insider Buying and Selling

In other Chemours news, insider Calderon Gerardo Familiar bought 1,935 shares of the company’s stock in a transaction dated Wednesday, August 12th. The stock was acquired at an average price of $15.53 per share, with a total value of $30,050.55. Following the completion of the acquisition, the insider directly owned 58,547 shares of the company’s stock, valued at $909,234.91. This represents a 3.42% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Denise Dignam bought 3,378 shares of Chemours stock in a transaction dated Tuesday, August 11th. The stock was acquired at an average price of $14.95 per share, with a total value of $50,501.10. Following the completion of the transaction, the chief executive officer directly owned 339,916 shares of the company’s stock, valued at approximately $5,081,744.20. The trade was a 1.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders bought 8,663 shares of company stock worth $130,601. 0.85% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Chemours

Institutional investors and hedge funds have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. purchased a new stake in Chemours during the 2nd quarter valued at about $34,000. Allworth Financial LP acquired a new position in shares of Chemours during the 2nd quarter worth approximately $51,000. State of Wyoming acquired a new position in shares of Chemours during the 2nd quarter worth approximately $67,000. Sterling Capital Management LLC boosted its holdings in shares of Chemours by 839.3% during the 3rd quarter. Sterling Capital Management LLC now owns 5,072 shares of the specialty chemicals company’s stock worth $69,000 after purchasing an additional 4,532 shares during the last quarter. Finally, Nykredit A S purchased a new stake in shares of Chemours in the second quarter valued at approximately $99,000. 76.26% of the stock is currently owned by institutional investors and hedge funds.

About Chemours

The Chemours Company (NYSE: CC) is a global chemistry company that develops and manufactures performance chemicals and advanced materials for industrial and consumer applications. The company serves customers in markets including automotive, construction, energy, electronics, healthcare, and general manufacturing.

Chemours operates through businesses focused on Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials. Its products include titanium dioxide pigments used to provide whiteness and opacity in coatings, plastics, and paper; refrigerants and related thermal-management solutions; and high-performance fluoropolymers and specialty materials sold under brands such as Teflon™, Viton™, and Nafion™.

Headquartered in Wilmington, Delaware, Chemours serves customers globally through manufacturing facilities, research and development operations, and commercial activities across North America, Latin America, Europe, and Asia-Pacific.