2 weeks Ago By ABMN Staff
The Chemours Company ( NYSE:CC – Get Free Report ) saw a significant increase in short interest in August. As of August 15th, there was short interest totalling 6,240,000 shares, an increase of 19.8% from the July 31st total of 5,210,000 shares.
Currently, 4.2% of the company’s shares are short sold. Based on an average trading volume of 1,390,000 shares, the days-to-cover ratio is currently 4.
5 days. Analysts Set New Price Targets Several equities research analysts recently weighed in on the company. Barclays reduced their price target on Chemours from $30.
00 to $22.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 6th. JPMorgan Chase & Co.
cut their target price on Chemours from $25.00 to $18.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th.
BMO Capital Markets cut their target price on Chemours from $35.00 to $30.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 6th.
UBS Group cut their target price on Chemours from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th.
Finally, Mizuho assumed coverage on Chemours in a research report on Friday, June 7th. They set a “neutral” rating and a $25.00 price objective on the stock.
Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Chemours has a consensus rating of “Hold” and an average target price of $27.
63. Read Our Latest Report on Chemours Chemours Stock Up 0.5 % Chemours ( NYSE:CC – Get Free Report ) last issued its earnings results on Thursday, August 1st.
The specialty chemicals company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.
19). The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.
53 billion. Chemours had a net margin of 2.16% and a return on equity of 32.
93%. The firm’s revenue for the quarter was down 6.4% compared to the same quarter last year.
During the same period last year, the business posted $1.10 EPS. Research analysts expect that Chemours will post 1.
81 earnings per share for the current fiscal year. Chemours Announces Dividend The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.
25 per share. This represents a $1.00 annualized dividend and a yield of 5.
14%. The ex-dividend date of this dividend is Thursday, August 15th. Chemours’s dividend payout ratio is presently -46.
08%. Hedge Funds Weigh In On Chemours A number of institutional investors and hedge funds have recently modified their holdings of the stock. William B.
Walkup & Associates Inc. purchased a new position in shares of Chemours in the 2nd quarter worth approximately $107,000. Scientech Research LLC purchased a new position in shares of Chemours in the 2nd quarter worth approximately $357,000.
Mackenzie Financial Corp boosted its holdings in shares of Chemours by 16.4% in the 2nd quarter. Mackenzie Financial Corp now owns 877,246 shares of the specialty chemicals company’s stock worth $19,799,000 after purchasing an additional 123,418 shares during the period.
AQR Capital Management LLC boosted its holdings in shares of Chemours by 28.1% in the 2nd quarter. AQR Capital Management LLC now owns 158,585 shares of the specialty chemicals company’s stock worth $3,579,000 after purchasing an additional 34,817 shares during the period.
Finally, Point72 Hong Kong Ltd bought a new stake in shares of Chemours during the 2nd quarter worth approximately $789,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.
Chemours Company Profile ( Get Free Report ) 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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