Investors Purchase Large Volume of Chemours Put Options (CC)

Chemours Co (NYSE:CC) was the recipient of unusually large options trading activity on Thursday. Stock investors bought 16,568 put options on the stock. This represents an increase of 2,713% compared to the average volume of 589 put options.

In other Chemours news, Director Richard H. Brown purchased 10,000 shares of the company’s stock in a transaction on Monday, December 3rd. The shares were purchased at an average cost of $28.60 per share, for a total transaction of $286,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.75% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the business. Marshall Wace LLP boosted its position in Chemours by 67.2% during the third quarter. Marshall Wace LLP now owns 1,396,422 shares of the specialty chemicals company’s stock worth $55,075,000 after purchasing an additional 561,484 shares during the period. Vanguard Group Inc. boosted its position in Chemours by 0.3% during the third quarter. Vanguard Group Inc. now owns 18,119,103 shares of the specialty chemicals company’s stock worth $714,617,000 after purchasing an additional 56,773 shares during the period. M Holdings Securities Inc. bought a new stake in Chemours during the third quarter worth approximately $559,000. Thrivent Financial for Lutherans boosted its position in Chemours by 5.9% during the third quarter. Thrivent Financial for Lutherans now owns 42,921 shares of the specialty chemicals company’s stock worth $1,693,000 after purchasing an additional 2,385 shares during the period. Finally, Virginia National Bank bought a new stake in Chemours during the third quarter worth approximately $1,366,000. 78.51% of the stock is currently owned by institutional investors.

NYSE:CC opened at $26.88 on Friday. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.39 and a current ratio of 2.03. Chemours has a fifty-two week low of $25.22 and a fifty-two week high of $54.62. The stock has a market cap of $4.64 billion, a price-to-earnings ratio of 4.68, a price-to-earnings-growth ratio of 0.31 and a beta of 2.68.

Chemours (NYSE:CC) last released its earnings results on Thursday, November 1st. The specialty chemicals company reported $1.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.42 by $0.07. Chemours had a return on equity of 106.98% and a net margin of 16.02%. The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the business posted $1.12 EPS. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, equities analysts forecast that Chemours will post 5.69 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 16th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, November 15th. This represents a $1.00 annualized dividend and a yield of 3.72%. Chemours’s dividend payout ratio (DPR) is presently 26.18%.

Several equities analysts have weighed in on CC shares. ValuEngine cut Chemours from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 15th. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Chemours in a research note on Thursday, September 13th. Morgan Stanley lowered their target price on Chemours from $48.00 to $47.00 and set a “hold” rating on the stock in a research note on Tuesday, September 25th. Zacks Investment Research cut Chemours from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 11th. Finally, Citigroup lowered their target price on Chemours from $61.00 to $44.00 and set a “buy” rating on the stock in a research note on Thursday, October 11th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $50.63.

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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, Fluoroproducts, and Chemical Solutions. The Titanium Technologies segment manufactures and sells titanium dioxide under the Ti-Pure and BaiMax brands for various applications in architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride window profiles, laminate papers used for furniture and building materials, and coated papers and paperboards used for packaging.

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