Insider Buying: Chemours Co (NYSE:CC) COO Purchases 20,000 Shares of Stock

Chemours Co (NYSE:CC) COO Mark Newman purchased 20,000 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were acquired at an average cost of $16.42 per share, for a total transaction of $328,400.00. Following the transaction, the chief operating officer now owns 114,261 shares of the company’s stock, valued at $1,876,165.62. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.

Chemours stock remained flat at $$16.35 during midday trading on Friday. The company had a trading volume of 2,330,068 shares, compared to its average volume of 2,600,825. The company’s fifty day moving average is $14.66 and its two-hundred day moving average is $26.15. Chemours Co has a 1-year low of $11.71 and a 1-year high of $42.13. The stock has a market capitalization of $2.68 billion, a PE ratio of 2.88, a P/E/G ratio of 0.41 and a beta of 2.57. The company has a quick ratio of 1.09, a current ratio of 1.96 and a debt-to-equity ratio of 5.37.

Chemours (NYSE:CC) last announced its earnings results on Thursday, August 1st. The specialty chemicals company reported $0.72 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.90 by ($0.18). The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.53 billion. Chemours had a net margin of 10.33% and a return on equity of 71.90%. The firm’s quarterly revenue was down 22.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.71 EPS. As a group, equities analysts anticipate that Chemours Co will post 2.6 EPS for the current year.



The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 16th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 6.12%. The ex-dividend date of this dividend is Thursday, August 15th. Chemours’s dividend payout ratio (DPR) is 17.64%.

A number of brokerages recently issued reports on CC. BMO Capital Markets dropped their target price on Chemours from $31.00 to $23.00 and set an “outperform” rating on the stock in a research report on Monday. Jefferies Financial Group dropped their target price on Chemours from $48.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, June 10th. Susquehanna Bancshares raised Chemours from a “neutral” rating to a “positive” rating and dropped their target price for the company from $37.00 to $18.00 in a research report on Tuesday, August 20th. Royal Bank of Canada lowered Chemours from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $32.00 to $16.00 in a research report on Friday, August 9th. Finally, TheStreet lowered Chemours from a “b-” rating to a “c+” rating in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. Chemours presently has an average rating of “Hold” and a consensus price target of $31.30.

Several large investors have recently bought and sold shares of the business. Atria Investments LLC increased its position in shares of Chemours by 580.0% during the 2nd quarter. Atria Investments LLC now owns 75,029 shares of the specialty chemicals company’s stock worth $898,000 after purchasing an additional 63,995 shares during the last quarter. Treasurer of the State of North Carolina increased its position in shares of Chemours by 17.8% during the 2nd quarter. Treasurer of the State of North Carolina now owns 80,394 shares of the specialty chemicals company’s stock worth $1,929,000 after purchasing an additional 12,170 shares during the last quarter. Natixis increased its position in shares of Chemours by 3,669.0% during the 2nd quarter. Natixis now owns 269,823 shares of the specialty chemicals company’s stock worth $6,476,000 after purchasing an additional 262,664 shares during the last quarter. Cresset Asset Management LLC increased its position in shares of Chemours by 39.5% during the 2nd quarter. Cresset Asset Management LLC now owns 372,577 shares of the specialty chemicals company’s stock worth $8,942,000 after purchasing an additional 105,545 shares during the last quarter. Finally, Luminus Management LLC increased its position in shares of Chemours by 4.4% during the 2nd quarter. Luminus Management LLC now owns 524,175 shares of the specialty chemicals company’s stock worth $12,580,000 after purchasing an additional 22,105 shares during the last quarter. 79.80% of the stock is currently owned by hedge funds and other institutional investors.

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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