Traders Buy Chemours (CC) on Weakness

Traders bought shares of Chemours Co (NYSE:CC) on weakness during trading on Wednesday. $38.43 million flowed into the stock on the tick-up and $13.06 million flowed out of the stock on the tick-down, for a money net flow of $25.37 million into the stock. Of all companies tracked, Chemours had the 24th highest net in-flow for the day. Chemours traded down ($0.33) for the day and closed at $51.41

CC has been the subject of a number of research reports. Jefferies Group lifted their target price on Chemours to $66.00 and gave the company a “buy” rating in a research note on Monday, December 4th. Zacks Investment Research upgraded Chemours from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research note on Thursday, November 9th. Barclays restated a “buy” rating and issued a $60.00 target price on shares of Chemours in a research note on Wednesday, December 6th. UBS Group lifted their target price on Chemours from $50.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, November 3rd. Finally, Goldman Sachs Group downgraded Chemours from a “buy” rating to a “neutral” rating and set a $55.00 target price for the company. in a research note on Wednesday, December 6th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $57.89.

The stock has a market capitalization of $9,519.24, a price-to-earnings ratio of 35.26, a price-to-earnings-growth ratio of 0.66 and a beta of 3.37. The company has a current ratio of 2.19, a quick ratio of 1.63 and a debt-to-equity ratio of 5.07.

Chemours (NYSE:CC) last released its quarterly earnings results on Thursday, November 2nd. The specialty chemicals company reported $1.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.11. The company had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.59 billion. Chemours had a return on equity of 116.80% and a net margin of 4.86%. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.61 earnings per share. sell-side analysts expect that Chemours Co will post 3.65 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, February 15th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend is Wednesday, February 14th. This is a boost from Chemours’s previous quarterly dividend of $0.03. Chemours’s payout ratio is 8.28%.

Chemours announced that its board has authorized a share buyback plan on Friday, December 1st that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the specialty chemicals company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

In related news, insider Christian W. Siemer sold 15,088 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $47.37, for a total transaction of $714,718.56. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider E Bryan Snell sold 11,878 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $53.25, for a total value of $632,503.50. Following the sale, the insider now directly owns 63,063 shares in the company, valued at approximately $3,358,104.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,271 shares of company stock worth $2,414,964. Corporate insiders own 1.14% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Acrospire Investment Management LLC raised its holdings in Chemours by 3.4% during the second quarter. Acrospire Investment Management LLC now owns 3,076 shares of the specialty chemicals company’s stock worth $117,000 after purchasing an additional 100 shares in the last quarter. Gamco Investors INC. ET AL bought a new position in shares of Chemours in the third quarter valued at $202,000. Bell Bank bought a new position in shares of Chemours in the third quarter valued at $202,000. First Allied Advisory Services Inc. bought a new position in shares of Chemours in the third quarter valued at $202,000. Finally, First Republic Investment Management Inc. bought a new position in shares of Chemours in the third quarter valued at $203,000. 74.34% of the stock is currently owned by hedge funds and other institutional investors.

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About Chemours

The Chemours Company is a provider of performance chemicals. The Company operates through three segments: Titanium Technologies, Fluoroproducts and Chemical Solutions. The Titanium Technologies segment is a producer of titanium dioxide (TiO2). The Fluoroproducts segment is a provider of fluoroproducts, including refrigerants and industrial fluoropolymer resins.

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