Chemours Target of Unusually Large Options Trading (NYSE:CC)

Key Points

• Investors bought an unusually large number of call options—42,884 calls, a roughly 787% increase versus the typical daily volume of 4,836 calls—signaling heightened bullish speculation on Chemours (NYSE:CC).
• Chemours shares traded up to $23.50 after the company reported $0.05 EPS (beating estimates) and flat revenue of $1.33B, while analysts remain mixed with a consensus rating of "Hold" and an average price target of $20.40, though some firms have raised targets (e.g., UBS $29, RBC $26).
• The company recently paid a quarterly dividend of $0.0875 (annualized $0.35, ~1.5% yield) and is majority-held by institutions, with about 76.26% of shares owned by institutional investors.

The Chemours Company (NYSE:CC - Get Free Report) was the target of unusually large options trading on Monday. Stock investors bought 42,884 call options on the stock. This is an increase of approximately 787% compared to the typical daily volume of 4,836 call options.

Chemours Stock Performance

Shares of NYSE:CC traded up $0.32 during trading on Monday, reaching $23.50. 1,266,127 shares of the stock were exchanged, compared to its average volume of 3,378,484. Chemours has a 12 month low of $9.13 and a 12 month high of $24.13. The firm has a market cap of $3.53 billion, a PE ratio of -9.46 and a beta of 1.41. The stock has a 50-day moving average price of $19.85 and a 200-day moving average price of $15.71. The company has a current ratio of 1.78, a quick ratio of 0.85 and a debt-to-equity ratio of 16.33.

Chemours (NYSE:CC - Get Free Report) last issued its quarterly earnings data on Thursday, February 19th. The specialty chemicals company reported $0.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.01 by $0.04. Chemours had a positive return on equity of 41.75% and a negative net margin of 6.41%.The company had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.33 billion. During the same quarter in the previous year, the company posted $0.09 earnings per share. The business's revenue was down 2.2% on a year-over-year basis. Research analysts expect that Chemours will post 2.03 EPS for the current fiscal year.

Chemours Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were paid a $0.0875 dividend. This represents a $0.35 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Friday, February 27th. Chemours's payout ratio is -14.11%.

Institutional Investors Weigh In On Chemours

Several institutional investors have recently made changes to their positions in CC. Baird Financial Group Inc. bought a new stake in shares of Chemours in the first quarter valued at approximately $148,000. Royal Bank of Canada boosted its stake in shares of Chemours by 6.8% in the first quarter. Royal Bank of Canada now owns 585,702 shares of the specialty chemicals company's stock valued at $7,926,000 after buying an additional 37,382 shares during the period. AQR Capital Management LLC bought a new stake in shares of Chemours in the first quarter valued at approximately $161,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Chemours by 149.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,243 shares of the specialty chemicals company's stock valued at $593,000 after buying an additional 25,899 shares during the period. Finally, Empowered Funds LLC bought a new stake in shares of Chemours in the first quarter valued at approximately $403,000. 76.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on CC shares. UBS Group lifted their price target on Chemours from $23.00 to $29.00 and gave the company a "buy" rating in a research note on Thursday, April 9th. Royal Bank Of Canada set a $26.00 price target on Chemours and gave the company an "outperform" rating in a research note on Friday, April 10th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $17.00 target price on shares of Chemours in a research report on Monday, February 23rd. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Chemours in a research report on Wednesday, January 21st. Finally, Mizuho lifted their target price on Chemours from $17.00 to $21.00 and gave the company an "outperform" rating in a research report on Thursday, March 5th. Five 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 data from MarketBeat.com, Chemours presently has a consensus rating of "Hold" and an average price target of $20.40.

Chemours Company Profile

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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