Chemours Co (NYSE:CC) CEO Buys $1,019,480.00 in Stock

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Chemours Co (NYSE:CC) CEO Mark P. Vergnano bought 44,000 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were purchased at an average price of $23.17 per share, for a total transaction of $1,019,480.00. Following the purchase, the chief executive officer now owns 116,600 shares in the company, valued at approximately $2,701,622. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of NYSE CC opened at $23.58 on Thursday. The company has a debt-to-equity ratio of 5.18, a quick ratio of 1.04 and a current ratio of 1.81. The firm has a market capitalization of $3.91 billion, a price-to-earnings ratio of 4.89, a P/E/G ratio of 0.36 and a beta of 2.55. Chemours Co has a 52-week low of $21.06 and a 52-week high of $50.41.

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

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Thursday, May 16th will be issued a $0.25 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.24%. Chemours’s dividend payout ratio (DPR) is presently 17.64%.

Several institutional investors have recently bought and sold shares of the company. Marshall Wace LLP bought a new stake in shares of Chemours in the 1st quarter worth about $544,000. Lowe Brockenbrough & Co. Inc. bought a new stake in shares of Chemours in the 1st quarter worth about $513,000. FMR LLC increased its holdings in shares of Chemours by 2.0% in the 1st quarter. FMR LLC now owns 24,912,740 shares of the specialty chemicals company’s stock worth $925,757,000 after buying an additional 479,467 shares during the last quarter. HighTower Advisors LLC increased its holdings in shares of Chemours by 128.5% in the 1st quarter. HighTower Advisors LLC now owns 49,394 shares of the specialty chemicals company’s stock worth $1,818,000 after buying an additional 27,777 shares during the last quarter. Finally, Soapstone Management L.P. increased its holdings in shares of Chemours by 47.1% in the 1st quarter. Soapstone Management L.P. now owns 125,000 shares of the specialty chemicals company’s stock worth $4,645,000 after buying an additional 40,000 shares during the last quarter. Hedge funds and other institutional investors own 80.12% of the company’s stock.

CC has been the topic of a number of research reports. Jefferies Financial Group reduced their price target on shares of Chemours from $48.00 to $30.00 and set a “buy” rating on the stock in a report on Monday. Barclays reiterated a “buy” rating and issued a $42.00 price target on shares of Chemours in a report on Monday, June 3rd. Royal Bank of Canada reduced their price target on shares of Chemours to $43.00 and set an “outperform” rating on the stock in a report on Monday, May 6th. JPMorgan Chase & Co. downgraded shares of Chemours from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $40.00 to $34.00 in a report on Monday, May 6th. Finally, ValuEngine downgraded shares of Chemours from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. Chemours currently has an average rating of “Buy” and a consensus price target of $43.80.

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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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