Investors Buy High Volume of Chemours Put Options (CC)

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Chemours Co (NYSE:CC) saw some unusual options trading on Thursday. Stock investors bought 4,394 put options on the company. This represents an increase of 1,844% compared to the typical volume of 226 put options.

A number of large investors have recently made changes to their positions in the stock. Iridian Asset Management LLC CT bought a new position in shares of Chemours in the first quarter valued at $221,537,000. LSV Asset Management increased its holdings in shares of Chemours by 588.7% in the second quarter. LSV Asset Management now owns 1,607,336 shares of the specialty chemicals company’s stock valued at $71,301,000 after buying an additional 1,373,936 shares in the last quarter. FMR LLC increased its holdings in shares of Chemours by 5.8% in the second quarter. FMR LLC now owns 23,927,129 shares of the specialty chemicals company’s stock valued at $1,061,408,000 after buying an additional 1,321,767 shares in the last quarter. First Eagle Investment Management LLC bought a new position in shares of Chemours in the first quarter valued at $56,698,000. Finally, Point72 Asset Management L.P. increased its holdings in shares of Chemours by 153.7% in the first quarter. Point72 Asset Management L.P. now owns 1,633,884 shares of the specialty chemicals company’s stock valued at $79,586,000 after buying an additional 989,926 shares in the last quarter. 76.73% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have recently weighed in on CC. Royal Bank of Canada began coverage on Chemours in a report on Wednesday, July 18th. They set an “outperform” rating and a $60.00 price target on the stock. ValuEngine cut Chemours from a “hold” rating to a “sell” rating in a report on Tuesday, July 10th. Zacks Investment Research cut Chemours from a “strong-buy” rating to a “hold” rating in a report on Monday, July 9th. SunTrust Banks began coverage on Chemours in a report on Tuesday, July 31st. They set a “hold” rating and a $51.00 price target on the stock. Finally, Citigroup cut their price target on Chemours from $69.00 to $64.00 and set a “buy” rating on the stock in a report on Wednesday, July 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $59.10.

Shares of NYSE:CC opened at $43.65 on Friday. Chemours has a 12 month low of $42.00 and a 12 month high of $58.08. The company has a market cap of $7.89 billion, a P/E ratio of 11.43, a PEG ratio of 0.50 and a beta of 2.73. The company has a current ratio of 2.09, a quick ratio of 1.47 and a debt-to-equity ratio of 3.86.

Chemours (NYSE:CC) last announced its earnings results on Thursday, August 2nd. The specialty chemicals company reported $1.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.53 by $0.18. Chemours had a return on equity of 107.22% and a net margin of 15.11%. The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the previous year, the company earned $0.87 earnings per share. The firm’s quarterly revenue was up 14.4% compared to the same quarter last year. analysts anticipate that Chemours will post 5.81 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 14th. Investors of record on Friday, August 17th will be issued a dividend of $0.25 per share. This is a boost from Chemours’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Thursday, August 16th. This represents a $1.00 annualized dividend and a yield of 2.29%. Chemours’s payout ratio is presently 26.18%.

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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