Denise Dignam Buys 4,068 Shares of The Chemours Company (NYSE:CC) 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 purchased 4,068 shares of the firm's stock in a transaction on Friday, August 8th. The stock was bought at an average cost of $12.06 per share, with a total value of $49,060.08. Following the completion of the acquisition, the chief executive officer directly owned 191,546 shares of the company's stock, valued at $2,310,044.76. This trade represents a 2.17% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Chemours Price Performance

NYSE CC traded down $0.48 during mid-day trading on Friday, hitting $14.59. The stock had a trading volume of 4,347,227 shares, compared to its average volume of 4,548,641. The firm's 50 day moving average is $12.57 and its 200 day moving average is $13.06. The Chemours Company has a twelve month low of $9.13 and a twelve month 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 stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of -5.21 and a beta of 1.61.

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

Chemours Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 15th will be paid a $0.0875 dividend. This represents a $0.35 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, August 15th. Chemours's dividend payout ratio is currently -12.50%.

Analyst Upgrades and Downgrades

CC has been the subject of several research analyst reports. Morgan Stanley reduced 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. Wall Street Zen downgraded Chemours from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Royal Bank Of Canada upped 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. UBS Group reduced their target price on Chemours from $18.00 to $17.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Finally, Mizuho upped their target price on Chemours from $13.00 to $16.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $17.38.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CC. FNY Investment Advisers LLC purchased a new stake in Chemours in the 1st quarter valued at $27,000. UMB Bank n.a. grew its holdings in Chemours by 73.9% in the 1st quarter. UMB Bank n.a. now owns 2,231 shares of the specialty chemicals company's stock valued at $30,000 after buying an additional 948 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Chemours by 170.7% in the 1st 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 in the last quarter. MTM Investment Management LLC purchased a new stake in Chemours in the 2nd quarter valued at $27,000. Finally, SouthState Corp purchased a new stake in Chemours in the 1st quarter valued at $34,000. 76.26% of the stock is 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.