Chemours (NYSE:CC) Trading 6.4% Higher - Here's Why

The Chemours Company (NYSE:CC - Get Free Report) shares shot up 6.4% during mid-day trading on Thursday . The stock traded as high as $14.48 and last traded at $14.65. 732,148 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 3,420,500 shares. The stock had previously closed at $13.77.

Analyst Ratings Changes

Several brokerages have issued reports on CC. Barclays dropped their price objective on shares of Chemours from $16.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 28th. Mizuho set a $15.00 target price on Chemours in a research note on Tuesday, April 15th. Royal Bank Of Canada increased their target price on Chemours from $14.00 to $15.00 and gave the stock an "outperform" rating in a research note on Thursday, July 3rd. Morgan Stanley cut their target price on Chemours from $22.00 to $15.00 and set an "equal weight" rating for the company in a research note on Monday, May 12th. Finally, Wall Street Zen downgraded Chemours from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. One equities 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 MarketBeat, Chemours presently has an average rating of "Hold" and a consensus price target of $17.33.

Chemours Stock Performance

The company has a debt-to-equity ratio of 7.01, a current ratio of 1.75 and a quick ratio of 0.83. The firm has a market capitalization of $2.10 billion, a PE ratio of 70.23 and a beta of 1.65. The stock has a 50-day moving average price of $11.36 and a 200-day moving average price of $13.99.

Chemours (NYSE:CC - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The specialty chemicals company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.06). The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Chemours had a net margin of 0.54% and a return on equity of 23.82%. The firm's quarterly revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 earnings per share. On average, research analysts expect that The Chemours Company will post 2.03 EPS for the current fiscal year.

Chemours Announces Dividend

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

Insider Buying and Selling

In related news, CFO Shane Hostetter bought 4,450 shares of the firm's stock in a transaction on Monday, May 19th. The stock was bought at an average cost of $11.28 per share, for a total transaction of $50,196.00. Following the completion of the purchase, the chief financial officer directly owned 59,694 shares in the company, valued at approximately $673,348.32. The trade was a 8.06% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Damian Gumpel bought 13,400 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was bought at an average price of $9.22 per share, with a total value of $123,548.00. Following the completion of the purchase, the insider owned 123,879 shares of the company's stock, valued at $1,142,164.38. This trade represents a 12.13% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 25,672 shares of company stock valued at $251,573. 0.47% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Chemours

Several hedge funds and other institutional investors have recently made changes to their positions in CC. FNY Investment Advisers LLC acquired a new position in shares of Chemours during the first quarter worth approximately $27,000. UMB Bank n.a. boosted its position in shares of Chemours by 73.9% during the first quarter. UMB Bank n.a. now owns 2,231 shares of the specialty chemicals company's stock worth $30,000 after buying an additional 948 shares during the period. Farther Finance Advisors LLC boosted its position 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 worth $30,000 after buying an additional 1,444 shares during the period. SouthState Corp acquired a new position in shares of Chemours during the first quarter worth approximately $34,000. Finally, Quadrant Capital Group LLC boosted its position in shares of Chemours by 100.4% during the fourth quarter. Quadrant Capital Group LLC now owns 2,234 shares of the specialty chemicals company's stock worth $38,000 after buying an additional 1,119 shares during the period. 76.26% of the stock is currently owned by institutional investors and hedge funds.

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.