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2021-07-13 00:31
Snatch This Bargain 6.0% Yield Dividend Stock Even Cheaper Than COO Newman Did
By Dividend Channel Staff, Monday, December 9, 10:18 AM ET
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10 Dividend Bargains You Can Buy Cheaper Than Insiders Did»
There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on September 11, Chemours Co 's COO, Mark Newman, invested $328,340.00 into 20,000 shares of CC, for a cost per share of $16.42. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.
In trading on Monday, bargain hunters could buy shares of Chemours Co (NYSE:CC) and achieve a cost basis even cheaper than Newman, with shares changing hands as low as $16.35 per share. It should be noted that Newman has collected $0.25/share in dividends since the time of their purchase, so they are currently up 1.1% on their purchase from a total return basis. Chemours Co shares are currently trading off about 1.6% on the day. The chart below shows the one year performance of CC shares, versus its 200 day moving average:
Looking at the chart above, CC's low point in its 52 week range is $11.71 per share, with $41.60 as the 52 week high point — that compares with a last trade of $16.35. By comparison, below is a table showing the prices at which CC insider buying was recorded over the last six months:
The current annualized dividend paid by Chemours Co is $1/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 11/14/2019. Below is a long-term dividend history chart for CC, which can be of good help in judging whether the most recent dividend with approx. 6.0% annualized yield is likely to continue.
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Bradley J. BellCurt AnastasioDavid C. SheltonE. Bryan SnellMary B. CranstonMark Newman