Insider Buying: Chemours Co (CC) Director Acquires 5,000 Shares of Stock

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Chemours Co (NYSE:CC) Director Bradley J. Bell purchased 5,000 shares of the stock in a transaction dated Thursday, May 16th. The shares were bought at an average cost of $24.06 per share, for a total transaction of $120,300.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

NYSE CC traded down $0.68 during trading hours on Monday, reaching $22.41. The company’s stock had a trading volume of 2,341,248 shares, compared to its average volume of 2,022,521. The stock has a market cap of $3.79 billion, a price-to-earnings ratio of 3.95, a PEG ratio of 0.35 and a beta of 2.20. Chemours Co has a fifty-two week low of $22.36 and a fifty-two week high of $53.25. The company has a current ratio of 1.81, a quick ratio of 1.04 and a debt-to-equity ratio of 5.18.

Chemours (NYSE:CC) last issued its quarterly earnings data on Thursday, May 2nd. The specialty chemicals company reported $0.63 EPS for the quarter, missing the Zacks’ consensus estimate of $0.93 by ($0.30). The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.52 billion. Chemours had a net margin of 12.60% and a return on equity of 87.75%. Chemours’s revenue was down 20.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.41 earnings per share. As a group, research analysts expect that Chemours Co will post 4.22 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Thursday, May 16th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $1.00 dividend on an annualized basis and a yield of 4.46%. Chemours’s payout ratio is 17.64%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC boosted its stake in shares of Chemours by 2.0% during the 1st quarter. FMR LLC now owns 24,912,740 shares of the specialty chemicals company’s stock worth $925,757,000 after purchasing an additional 479,467 shares during the last quarter. Vanguard Group Inc boosted its stake in shares of Chemours by 0.3% during the 3rd quarter. Vanguard Group Inc now owns 18,119,103 shares of the specialty chemicals company’s stock worth $714,617,000 after purchasing an additional 56,773 shares during the last quarter. Iridian Asset Management LLC CT boosted its stake in shares of Chemours by 2.9% during the 4th quarter. Iridian Asset Management LLC CT now owns 9,696,092 shares of the specialty chemicals company’s stock worth $273,624,000 after purchasing an additional 275,677 shares during the last quarter. LSV Asset Management boosted its stake in shares of Chemours by 19.9% during the 1st quarter. LSV Asset Management now owns 3,695,006 shares of the specialty chemicals company’s stock worth $137,306,000 after purchasing an additional 613,100 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Chemours by 37.7% during the 4th quarter. Bank of New York Mellon Corp now owns 3,146,146 shares of the specialty chemicals company’s stock worth $88,784,000 after purchasing an additional 860,666 shares during the last quarter. 82.18% of the stock is currently owned by hedge funds and other institutional investors.

CC has been the topic of a number of recent analyst reports. Susquehanna Bancshares reaffirmed a “neutral” rating and set a $37.00 price target on shares of Chemours in a research note on Tuesday, February 19th. SunTrust Banks upped their price target on shares of Chemours to $40.00 and gave the stock a “hold” rating in a research note on Tuesday, February 19th. Citigroup reaffirmed a “buy” rating and set a $43.00 price target on shares of Chemours in a research note on Wednesday, February 20th. ValuEngine raised shares of Chemours from a “strong sell” rating to a “sell” rating in a research note on Wednesday, February 20th. Finally, Zacks Investment Research raised shares of Chemours from a “sell” rating to a “hold” rating in a research note on Monday, March 18th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $46.00.

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About Chemours

The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. It operates through three segments: Titanium Technologies, Fluoroproducts, and Chemical Solutions. The Titanium Technologies segment manufactures and sells titanium dioxide under the Ti-Pure and BaiMax brands for various applications in architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride window profiles, laminate papers used for furniture and building materials, and coated papers and paperboards used for packaging.

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