Chemours Co (CC) Insider Sells $714,718.56 in Stock

Chemours Co (NYSE:CC) insider Christian W. Siemer sold 15,088 shares of the company’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $47.37, for a total transaction of $714,718.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of Chemours Co (NYSE CC) traded up $0.55 during mid-day trading on Friday, reaching $48.04. 2,783,904 shares of the company traded hands, compared to its average volume of 2,757,186. Chemours Co has a one year low of $20.76 and a one year high of $58.08. The stock has a market cap of $8,880.00 and a P/E ratio of 16.85. The company has a quick ratio of 1.63, a current ratio of 2.19 and a debt-to-equity ratio of 5.07.

Chemours (NYSE:CC) last announced its quarterly earnings data on Thursday, November 2nd. The specialty chemicals company reported $1.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.11. Chemours had a net margin of 4.86% and a return on equity of 116.80%. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the prior year, the firm posted $0.61 EPS. Chemours’s revenue for the quarter was up 13.3% on a year-over-year basis. analysts anticipate that Chemours Co will post 3.65 EPS for the current year.

Chemours announced that its Board of Directors has approved a stock buyback plan on Friday, December 1st that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the specialty chemicals company to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, February 15th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.42%. This is an increase from Chemours’s previous quarterly dividend of $0.03. The ex-dividend date is Wednesday, February 14th. Chemours’s dividend payout ratio is 8.28%.

A number of hedge funds have recently made changes to their positions in the stock. FMR LLC grew its position in Chemours by 6.1% during the 2nd quarter. FMR LLC now owns 15,830,411 shares of the specialty chemicals company’s stock valued at $600,289,000 after purchasing an additional 905,038 shares during the last quarter. Renaissance Technologies LLC grew its position in Chemours by 10.3% during the 2nd quarter. Renaissance Technologies LLC now owns 3,342,200 shares of the specialty chemicals company’s stock valued at $126,736,000 after purchasing an additional 310,800 shares during the last quarter. Bank of New York Mellon Corp grew its position in Chemours by 7.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,371,909 shares of the specialty chemicals company’s stock valued at $120,042,000 after purchasing an additional 173,523 shares during the last quarter. JPMorgan Chase & Co. grew its position in Chemours by 11.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,201,287 shares of the specialty chemicals company’s stock valued at $110,969,000 after purchasing an additional 234,705 shares during the last quarter. Finally, TIAA CREF Investment Management LLC grew its position in Chemours by 126.5% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 1,789,112 shares of the specialty chemicals company’s stock valued at $67,843,000 after purchasing an additional 999,380 shares during the last quarter. 74.42% of the stock is currently owned by institutional investors.

CC has been the topic of a number of recent research reports. Jefferies Group upped their target price on shares of Chemours to $66.00 and gave the stock a “buy” rating in a research report on Monday, December 4th. Zacks Investment Research raised shares of Chemours from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research report on Thursday, November 9th. UBS upped their target price on shares of Chemours from $50.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, November 3rd. BidaskClub raised shares of Chemours from a “hold” rating to a “buy” rating in a research report on Thursday, August 24th. Finally, Goldman Sachs Group downgraded shares of Chemours from a “buy” rating to a “neutral” rating and set a $55.00 target price on the stock. in a research report on Wednesday, December 6th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Chemours currently has an average rating of “Buy” and a consensus target price of $57.89.

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About Chemours

The Chemours Company is a provider of performance chemicals. The Company operates through three segments: Titanium Technologies, Fluoroproducts and Chemical Solutions. The Titanium Technologies segment is a producer of titanium dioxide (TiO2). The Fluoroproducts segment is a provider of fluoroproducts, including refrigerants and industrial fluoropolymer resins.

Insider Buying and Selling by Quarter for Chemours (NYSE:CC)

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