Short Interest in The Chemours Company (NYSE:CC) Expands By 22.1%

The Chemours Company (NYSE:CC - Get Free Report) was the target of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 12,860,000 shares, a growth of 22.1% from the March 15th total of 10,530,000 shares. Currently, 8.7% of the company's shares are sold short. Based on an average daily volume of 2,840,000 shares, the days-to-cover ratio is currently 4.5 days.

Hedge Funds Weigh In On Chemours

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Chemours by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 15,223,961 shares of the specialty chemicals company's stock valued at $257,285,000 after buying an additional 94,885 shares during the period. Ameriprise Financial Inc. boosted its stake in Chemours by 23.8% during the fourth quarter. Ameriprise Financial Inc. now owns 4,373,172 shares of the specialty chemicals company's stock worth $73,907,000 after buying an additional 839,849 shares during the period. Millennium Management LLC grew its position in Chemours by 44.6% in the 4th quarter. Millennium Management LLC now owns 2,507,262 shares of the specialty chemicals company's stock valued at $42,373,000 after acquiring an additional 773,537 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Chemours by 1.2% in the third quarter. Geode Capital Management LLC now owns 2,491,748 shares of the specialty chemicals company's stock valued at $50,646,000 after acquiring an additional 28,803 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Chemours in the 4th quarter valued at $30,702,000. 76.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CC. Truist Financial reduced their price target on Chemours from $27.00 to $22.00 and set a "buy" rating for the company in a report on Monday, April 14th. Mizuho set a $15.00 price objective on Chemours in a research note on Tuesday, April 15th. Morgan Stanley dropped their target price on Chemours from $25.00 to $22.00 and set an "equal weight" rating for the company in a research report on Monday, January 13th. The Goldman Sachs Group lowered their target price on Chemours from $24.00 to $21.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Finally, Barclays dropped their price target on Chemours from $19.00 to $16.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 1st. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $21.56.

Chemours Stock Down 1.2 %

NYSE CC traded down $0.16 during trading hours on Friday, reaching $12.29. 431,783 shares of the company's stock traded hands, compared to its average volume of 1,855,605. The firm has a 50-day simple moving average of $13.41 and a 200 day simple moving average of $17.12. Chemours has a 52-week low of $9.33 and a 52-week high of $29.21. The firm has a market cap of $1.84 billion, a PE ratio of 21.54 and a beta of 1.84. The company has a debt-to-equity ratio of 6.70, a current ratio of 1.68 and a quick ratio of 0.92.

Chemours (NYSE:CC - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.01. The business had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.37 billion. Chemours had a return on equity of 26.54% and a net margin of 1.51%. Sell-side analysts anticipate that Chemours will post 2.03 EPS for the current fiscal year.

Chemours Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.00 dividend on an annualized basis and a yield of 8.14%. Chemours's dividend payout ratio is currently 175.44%.

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.