Insider Buying: The Chemours Company (NYSE:CC) CEO Acquires 4,068 Shares of Stock

Key Points

• Denise Dignam, CEO of The Chemours Company, purchased 4,068 shares at an average price of $12.06, increasing her stake in the company to 191,546 shares valued at approximately $2.31 million.
• Chemours recently reported earnings of $0.58 per share for the quarter, surpassing estimates by 12 cents, and revenues of $1.62 billion, which is 5.0% higher than the same quarter last year.
• Shares of Chemours currently have a consensus "Hold" rating, with target price changes from various firms suggesting future fluctuations with a consensus target price of $17.38.

The Chemours Company (NYSE:CC - Get Free Report) CEO Denise Dignam acquired 4,068 shares of the company's stock in a transaction dated Friday, August 8th. The shares were bought at an average price of $12.06 per share, for a total transaction of $49,060.08. Following the acquisition, the chief executive officer directly owned 191,546 shares of the company's stock, valued at approximately $2,310,044.76. This trade represents a 2.17% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Chemours Trading Up 6.1%

Chemours stock traded up $0.71 during trading hours on Tuesday, reaching $12.39. The stock had a trading volume of 2,768,111 shares, compared to its average volume of 4,067,307. The stock has a market cap of $1.85 billion, a PE ratio of -4.43 and a beta of 1.61. The Chemours Company has a 52 week low of $9.13 and a 52 week high of $22.38. The company has a debt-to-equity ratio of 17.16, a current ratio of 1.68 and a quick ratio of 0.83. The company has a fifty day simple moving average of $12.32 and a 200-day simple moving average of $13.14.

Chemours (NYSE:CC - Get Free Report) last announced its earnings results on Tuesday, August 5th. The specialty chemicals company reported $0.58 earnings per share for the quarter, beating analysts' consensus estimates of $0.46 by $0.12. The firm had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.57 billion. Chemours had a negative net margin of 7.19% and a positive return on equity of 35.14%. The company's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.38 EPS. Analysts forecast that The Chemours Company will post 2.03 EPS for the current fiscal year.

Chemours Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.0875 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 2.8%. Chemours's payout ratio is presently -12.50%.

Institutional Investors Weigh In On Chemours

A number of large investors have recently modified their holdings of the stock. Advisors Asset Management Inc. boosted its stake in shares of Chemours by 18.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 461,992 shares of the specialty chemicals company's stock valued at $5,290,000 after purchasing an additional 71,897 shares in the last quarter. XTX Topco Ltd lifted its position in Chemours by 358.6% during the 2nd quarter. XTX Topco Ltd now owns 96,604 shares of the specialty chemicals company's stock valued at $1,106,000 after acquiring an additional 75,541 shares during the period. Ameritas Investment Partners Inc. purchased a new position in Chemours during the 2nd quarter valued at about $176,000. Prudential Financial Inc. lifted its position in Chemours by 7.3% during the 2nd quarter. Prudential Financial Inc. now owns 154,853 shares of the specialty chemicals company's stock valued at $1,773,000 after acquiring an additional 10,521 shares during the period. Finally, Private Management Group Inc. lifted its position in Chemours by 1.2% during the 2nd quarter. Private Management Group Inc. now owns 964,702 shares of the specialty chemicals company's stock valued at $11,046,000 after acquiring an additional 11,644 shares during the period. Institutional investors own 76.26% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CC. Royal Bank Of Canada upped their target price on shares of Chemours from $14.00 to $15.00 and gave the stock an "outperform" rating in a report on Thursday, July 3rd. Morgan Stanley reduced their target price on shares of Chemours from $22.00 to $15.00 and set an "equal weight" rating for the company in a research report on Monday, May 12th. Wall Street Zen downgraded shares of Chemours from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. UBS Group cut their price objective on shares of Chemours from $18.00 to $17.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Finally, The Goldman Sachs Group lowered their target price on shares of Chemours from $21.00 to $14.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $17.38.

About Chemours

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.

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