Chemours (NYSE:CC) Stock Price Up 7.4% Following Insider Buying Activity

Shares of The Chemours Company (NYSE:CC - Get Free Report) rose 7.4% during mid-day trading on Thursday after an insider bought additional shares in the company. The company traded as high as $10.75 and last traded at $10.82. Approximately 1,474,623 shares changed hands during trading, a decline of 32% from the average daily volume of 2,179,503 shares. The stock had previously closed at $10.07.

Specifically, insider Damian Gumpel purchased 13,400 shares of Chemours stock in a transaction dated Monday, June 2nd. The shares were acquired at an average cost of $9.22 per share, with a total value of $123,548.00. Following the purchase, the insider now owns 123,879 shares of the company's stock, valued at approximately $1,142,164.38. The trade was a 12.13% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Damian Gumpel bought 7,822 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were purchased at an average price of $9.95 per share, with a total value of $77,828.90. Following the purchase, the insider now owns 131,701 shares of the company's stock, valued at approximately $1,310,424.95. This represents a 6.31% increase in their position. The disclosure for this purchase can be found here.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CC shares. Royal Bank of Canada cut their target price on Chemours from $17.00 to $14.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Morgan Stanley lowered their price target on shares of Chemours from $22.00 to $15.00 and set an "equal weight" rating for the company in a report on Monday, May 12th. Wall Street Zen lowered Chemours from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. The Goldman Sachs Group reduced their price objective on Chemours from $21.00 to $14.00 and set a "neutral" rating for the company in a research report on Wednesday, May 14th. Finally, BMO Capital Markets lowered their price objective on shares of Chemours from $34.00 to $27.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $17.22.

Chemours Trading Up 4.1%

The company has a debt-to-equity ratio of 6.70, a quick ratio of 0.92 and a current ratio of 1.68. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of 19.47 and a beta of 1.76. The business has a fifty day simple moving average of $11.24 and a 200-day simple moving average of $15.43.

Chemours (NYSE:CC - Get Free Report) last released its earnings results on Tuesday, May 6th. The specialty chemicals company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.19 by ($0.06). The company had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.36 billion. Chemours had a net margin of 1.51% and a return on equity of 26.54%. The firm's revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 earnings per share. As a group, equities analysts forecast that The Chemours Company will post 2.03 earnings per share for the current fiscal year.

Chemours Announces Dividend

The company also recently announced a dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, May 19th will be issued a dividend of $0.0875 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a dividend yield of 3.17%. Chemours's dividend payout ratio is currently 175.00%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. FNY Investment Advisers LLC purchased a new stake in Chemours during the first quarter valued at $27,000. UMB Bank n.a. boosted its position in Chemours by 73.9% during the 1st quarter. UMB Bank n.a. now owns 2,231 shares of the specialty chemicals company's stock valued at $30,000 after acquiring an additional 948 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Chemours by 100.4% during the 4th quarter. Quadrant Capital Group LLC now owns 2,234 shares of the specialty chemicals company's stock valued at $38,000 after purchasing an additional 1,119 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Chemours by 170.7% during the first quarter. Farther Finance Advisors LLC now owns 2,290 shares of the specialty chemicals company's stock valued at $30,000 after buying an additional 1,444 shares during the last quarter. Finally, SouthState Corp acquired a new position in Chemours during the first quarter valued at $34,000. Hedge funds and other institutional investors own 76.26% of the company's stock.

Chemours Company Profile

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, Thermal & Specialized Solutions, and Advanced Performance Materials. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure brand for delivering whiteness, brightness, opacity, durability, efficiency, and protection in various of applications, such as architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride, laminate papers used for furniture and building materials, coated paper, and coated paperboard used for packaging.