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

The Chemours Company (NYSE:CC) was the target of some unusual options trading on Friday. Investors purchased 10,642 call options on the stock. This represents an increase of approximately 182% compared to the typical volume of 3,771 call options.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CC shares. JPMorgan Chase & Co. upped their target price on shares of Chemours from $13.00 to $17.00 and gave the stock a “neutral” rating in a research note on Monday, February 23rd. Royal Bank Of Canada reiterated an “outperform” rating and set a $18.00 price target on shares of Chemours in a report on Friday, January 16th. Jefferies Financial Group reissued a “hold” rating and issued a $17.00 price objective on shares of Chemours in a research report on Monday, February 23rd. Weiss Ratings restated a “sell (d)” rating on shares of Chemours in a report on Wednesday, January 21st. Finally, Morgan Stanley lifted their price objective on shares of Chemours from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Monday, February 23rd. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Chemours presently has a consensus rating of “Hold” and a consensus target price of $18.40.

Chemours Stock Up 0.4%

Shares of NYSE:CC traded up $0.07 during trading on Friday, hitting $17.77. 1,375,307 shares of the company were exchanged, compared to its average volume of 3,490,991. The stock has a market capitalization of $2.67 billion, a P/E ratio of -7.14 and a beta of 1.60. The company has a debt-to-equity ratio of 16.33, a current ratio of 1.78 and a quick ratio of 0.85. Chemours has a 12-month low of $9.13 and a 12-month high of $21.85. The firm’s 50 day moving average price is $16.84 and its 200-day moving average price is $14.82.

Chemours (NYSE:CC) last posted its earnings results on Thursday, February 19th. The specialty chemicals company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. Chemours had a negative net margin of 6.41% and a positive return on equity of 41.75%. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period last year, the firm posted $0.09 EPS. The company’s revenue was down 2.2% on a year-over-year basis. On average, research analysts predict that Chemours will post 2.03 earnings per share for the current fiscal year.

Chemours Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be issued a $0.0875 dividend. This represents a $0.35 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, February 27th. Chemours’s dividend payout ratio is presently -14.11%.

Institutional Trading of Chemours

Large investors have recently bought and sold shares of the business. Atlas Capital Advisors Inc. purchased a new stake in shares of Chemours in the fourth quarter valued at about $26,000. MTM Investment Management LLC acquired a new position in Chemours in the 2nd quarter valued at about $27,000. Aster Capital Management DIFC Ltd acquired a new position in Chemours in the 4th quarter valued at about $28,000. Covestor Ltd raised its stake in Chemours by 204.7% during the 4th quarter. Covestor Ltd now owns 2,602 shares of the specialty chemicals company’s stock valued at $31,000 after acquiring an additional 1,748 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in Chemours during the 4th quarter valued at approximately $31,000. Institutional investors and hedge funds own 76.26% of the company’s stock.

About Chemours

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.