Key Points
- Insider buying: Gerardo Familiar Calderon purchased 1,935 Chemours shares for approximately $30,051 at an average price of $15.53, increasing his stake by 3.42% to 58,547 shares.
- Weak quarterly results: Chemours reported adjusted earnings of $0.42 per share, below the $0.49 analyst consensus, while revenue of $1.59 billion also missed expectations and declined 1.5% year over year.
- Mixed outlook: Shares opened at $15.23, and analysts’ average price target is $20.10, but recent rating actions included price-target cuts from JPMorgan and RBC and a Zacks downgrade to “strong sell.”
The Chemours Company (NYSE:CC - Get Free Report) insider Calderon Gerardo Familiar acquired 1,935 shares of Chemours stock in a transaction that occurred on Wednesday, August 12th. The shares were purchased at an average cost of $15.53 per share, with a total value of $30,050.55. Following the purchase, the insider owned 58,547 shares of the company's stock, valued at $909,234.91. This represents a 3.42% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Chemours Stock Performance
Chemours stock opened at $15.23 on Friday. The Chemours Company has a 1-year low of $10.44 and a 1-year high of $28.67. The company has a current ratio of 1.66, a quick ratio of 0.88 and a debt-to-equity ratio of 18.98. The firm has a market capitalization of $2.29 billion, a PE ratio of -7.97 and a beta of 1.43. The firm's 50 day simple moving average is $18.63 and its 200 day simple moving average is $20.03.
Chemours (NYSE:CC - Get Free Report) last released 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). The firm had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.65 billion. Chemours had a negative net margin of 5.00% and a positive return on equity of 60.64%. The firm's revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the firm earned ($2.54) earnings per share. As a group, analysts expect that The Chemours Company will post 0.88 earnings per share for the current fiscal year.
Chemours Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be paid a dividend of $0.0875 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.35 annualized dividend and a yield of 2.3%. Chemours's dividend payout ratio (DPR) is currently -18.32%.
More Chemours News
Here are the key news stories impacting Chemours this week:
- Positive Sentiment: CEO Denise Dignam purchased 3,378 shares at an average price of $14.95, investing approximately $50,500 and increasing her ownership by 1%. SEC filing on Denise Dignam's purchase
- Positive Sentiment: Insider Gerardo Familiar Calderon bought 1,935 shares at an average price of $15.53, spending about $30,000 and increasing his stake by 3.42%. The purchases may signal that insiders view the recent weakness as an opportunity. SEC filing on Gerardo Familiar Calderon's purchase
- Neutral Sentiment: BMO Capital Markets reduced its price target from $26 to $18 but maintained an “outperform” rating. The revised target still implies meaningful upside, although the cut reflects lower near-term expectations. The Fly report on BMO's Chemours rating
- Negative Sentiment: JPMorgan lowered its price target from $22 to $15 and retained a “neutral” rating, placing its target roughly in line with the current share price and reducing support for a near-term rebound. Benzinga report on JPMorgan's Chemours rating
- Negative Sentiment: Zacks Research downgraded Chemours from “strong buy” to “strong sell,” adding the most bearish analyst signal among the recent updates. Zacks Research report on Chemours
Institutional Investors Weigh In On Chemours
A number of large investors have recently added to or reduced their stakes in CC. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Chemours during the first quarter valued at about $3,745,000. Versor Investments LP bought a new stake in shares of Chemours in the 4th quarter valued at about $314,000. Penn Capital Management Company LLC lifted its stake in shares of Chemours by 113.0% in the 4th quarter. Penn Capital Management Company LLC now owns 1,386,819 shares of the specialty chemicals company's stock valued at $16,366,000 after acquiring an additional 735,668 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Chemours by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 17,920,868 shares of the specialty chemicals company's stock valued at $211,287,000 after acquiring an additional 490,778 shares during the period. Finally, Legal & General Group Plc boosted its holdings in Chemours by 19.9% during the 4th quarter. Legal & General Group Plc now owns 2,139,617 shares of the specialty chemicals company's stock valued at $25,226,000 after acquiring an additional 355,074 shares during the period. Hedge funds and other institutional investors own 76.26% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on CC. Weiss Ratings lowered Chemours from a "sell (d)" rating to a "sell (d-)" rating in a research note on Thursday, August 6th. Zacks Research downgraded Chemours from a "strong-buy" rating to a "strong sell" rating in a research report on Tuesday. JPMorgan Chase & Co. cut their price objective on Chemours from $22.00 to $15.00 and set a "neutral" rating for the company in a report on Thursday. Alembic Global Advisors restated an "overweight" rating and issued a $30.00 price objective on shares of Chemours in a research report on Wednesday, May 13th. Finally, Royal Bank Of Canada lowered their target price on shares of Chemours from $26.00 to $22.00 and set an "outperform" rating on the stock in a research note on Thursday, August 6th. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $20.10.
View Our Latest Analysis on Chemours
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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