Chemours (NYSE:CC) CEO Acquires $50,501.10 in Stock

Key Points

• Chemours CEO Denise Dignam purchased 3,378 shares at $14.95 each, investing $50,501.10 and increasing her direct ownership by 1% to 339,916 shares.
• Chemours shares were trading at $15.23, near the lower end of their 52-week range, after the company reported quarterly revenue of $1.59 billion and earnings per share of $0.42—both below analyst expectations.
• The company declared a quarterly dividend of $0.0875 per share, equivalent to $0.35 annually and a 2.3% yield; analysts maintain a consensus “Hold” rating with a $20.10 target price.

The Chemours Company (NYSE:CC - Get Free Report) CEO Denise Dignam purchased 3,378 shares of the business's stock in a transaction that occurred on Tuesday, August 11th. The stock was purchased at an average price of $14.95 per share, for a total transaction of $50,501.10. Following the completion of the transaction, the chief executive officer directly owned 339,916 shares in the company, valued at $5,081,744.20. This trade represents a 1.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link.

Chemours Trading Down 0.1%

NYSE CC traded down $0.01 during trading on Thursday, reaching $15.23. 3,639,033 shares of the stock traded hands, compared to its average volume of 3,109,865. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of -7.97 and a beta of 1.43. The stock's 50-day moving average price is $18.76 and its 200 day moving average price is $20.03. The company has a quick ratio of 0.88, a current ratio of 1.66 and a debt-to-equity ratio of 18.98. The Chemours Company has a fifty-two week low of $10.44 and a fifty-two week high of $28.67.

Chemours (NYSE:CC - Get Free Report) last posted its earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.07). The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.65 billion. Chemours had a positive return on equity of 60.64% and a negative net margin of 5.00%.The company's revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the business posted ($2.54) earnings per share. Analysts predict that The Chemours Company will post 0.88 EPS for the current year.

Chemours Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be given a $0.0875 dividend. The ex-dividend date is Friday, August 14th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 2.3%. Chemours's dividend payout ratio is currently -18.32%.

Hedge Funds Weigh In On Chemours

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CC. Atlas Capital Advisors Inc. acquired a new stake in shares of Chemours in the 4th quarter valued at about $26,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Chemours during the fourth quarter worth about $28,000. Covestor Ltd grew its holdings in shares of Chemours by 204.7% during the fourth quarter. Covestor Ltd now owns 2,602 shares of the specialty chemicals company's stock worth $31,000 after buying an additional 1,748 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in Chemours in the 4th quarter valued at approximately $31,000. Finally, Rothschild Investment LLC lifted its stake in Chemours by 87.0% in the 4th quarter. Rothschild Investment LLC now owns 2,698 shares of the specialty chemicals company's stock valued at $32,000 after acquiring an additional 1,255 shares in the last quarter. 76.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CC. Mizuho set a $22.00 target price on Chemours in a report on Wednesday, August 5th. Truist Financial dropped their price target on Chemours from $30.00 to $24.00 and set a "buy" rating on the stock in a research report on Thursday, August 6th. Weiss Ratings cut Chemours from a "sell (d)" rating to a "sell (d-)" rating in a report on Thursday, August 6th. Morgan Stanley set a $18.00 price objective on Chemours in a research report on Monday. Finally, The Goldman Sachs Group reissued a "neutral" rating and set a $17.00 target price on shares of Chemours in a research note on Thursday. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $20.10.

About Chemours

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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