Key Points
- Chemours CFO Shane Hostetter purchased 3,350 shares at an average price of $14.94, investing approximately $50,049 and increasing his direct ownership by 3.37% to 102,698 shares.
- Chemours shares were down 7.8% and recently opened at $14.52 after the company reported quarterly EPS of $0.42, below the $0.49 analyst consensus, while revenue of $1.59 billion also missed expectations.
- Analysts maintain a consensus “Moderate Buy” rating with a $21 price target, while Chemours declared a quarterly dividend of $0.0875 per share, equivalent to a 2.4% annualized yield.
The Chemours Company (NYSE:CC - Get Free Report) CFO Shane Hostetter bought 3,350 shares of the stock in a transaction dated Thursday, August 6th. The shares were acquired at an average price of $14.94 per share, with a total value of $50,049.00. Following the completion of the purchase, the chief financial officer directly owned 102,698 shares of the company's stock, valued at approximately $1,534,308.12. This represents a 3.37% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Chemours Stock Down 7.8%
Shares of NYSE CC opened at $14.52 on Tuesday. The company has a debt-to-equity ratio of 18.98, a quick ratio of 0.88 and a current ratio of 1.66. The Chemours Company has a 1 year low of $10.44 and a 1 year high of $28.67. The stock's 50-day simple moving average is $19.08 and its 200-day simple moving average is $20.05. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of -7.60 and a beta of 1.43.
Chemours (NYSE:CC - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.42 EPS for the quarter, missing analysts' consensus estimates of $0.49 by ($0.07). Chemours had a negative net margin of 5.00% and a positive return on equity of 60.64%. The business had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.65 billion. During the same period in the prior year, the company posted ($2.54) EPS. The company's revenue for the quarter was down 1.5% on a year-over-year basis. As a group, equities analysts anticipate that The Chemours Company will post 0.91 earnings per share for the current fiscal year.
Chemours Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be paid a dividend of $0.0875 per share. This represents a $0.35 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Friday, August 14th. Chemours's dividend payout ratio is -18.32%.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on the stock. Alembic Global Advisors restated an "overweight" rating and issued a $30.00 price target on shares of Chemours in a research note on Wednesday, May 13th. JPMorgan Chase & Co. boosted their target price on shares of Chemours from $17.00 to $22.00 and gave the stock a "neutral" rating in a research report on Thursday, May 21st. Morgan Stanley set a $18.00 target price on shares of Chemours in a research note on Monday. Weiss Ratings cut shares of Chemours from a "sell (d)" rating to a "sell (d-)" rating in a research report on Thursday. Finally, UBS Group reiterated a "neutral" rating and issued a $18.00 price target (down from $29.00) on shares of Chemours in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $21.00.
Get Our Latest Research Report on CC
Institutional Investors Weigh In On Chemours
A number of institutional investors have recently modified their holdings of the business. Avaii Wealth Management LLC acquired a new stake in Chemours during the second quarter worth about $6,139,000. BlackRock Inc. acquired a new position in Chemours in the second quarter valued at approximately $477,769,000. Deutsche Bank AG acquired a new position in Chemours in the second quarter valued at approximately $3,291,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Chemours during the second quarter valued at approximately $1,467,000. Finally, Old West Investment Management LLC bought a new position in shares of Chemours during the second quarter valued at approximately $7,152,000. Institutional investors own 76.26% of the company's stock.
About Chemours
(
Get Free Report)
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.
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