This Fund Bought $63 Million of Chemours Stock Even as Shares Sit 80% Below 2017 Highs

• New York City-based Cooper Creek Partners bought astir 4 cardinal shares of The Chemours Company successful the 3rd quarter.

• The shares were worthy astir $63.1 cardinal astatine the extremity of the quarter.

• The worth of the shares represented astir 1.9% of reportable assets arsenic of September 30.

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New York City-based Cooper Creek Partners Management disclosed a caller presumption successful The Chemours Company (NYSE:CC) during the 3rd quarter, adding astir 4 cardinal shares valued astatine $63.1 million, according to a November 14 SEC filing.

According to a filing with the U.S. Securities and Exchange Commission dated November 14, Cooper Creek Partners Management initiated a caller presumption successful The Chemours Company (NYSE:CC), acquiring astir 4 cardinal shares during the 3rd quarter. The involvement was valued astatine $63.1 cardinal arsenic of September 30. To compare, the money reported full U.S. equity holdings of $3.3 cardinal crossed 88 positions for the quarter.

The acquisition established a caller presumption representing 1.9% of the fund’s 13F reportable assets nether management.

Top holdings aft the filing:

• NYSE:OI: $130.5 cardinal (4.9% of AUM)

• NASDAQ:NWL: $130.2 cardinal (4.9% of AUM)

• NYSE:CXW: $129.7 cardinal (4.9% of AUM)

• NYSE:BBWI: $129 cardinal (4.8% of AUM)

• NYSE:AAP: $107 cardinal (4% of AUM)

As of Friday's marketplace close, Chemours shares were priced astatine $12.79, down 41% implicit the past twelvemonth and good underperforming the S&P 500, which is up 14% successful the aforesaid period.

The Chemours Company produces titanium dioxide pigments, refrigerants, precocious show materials, and concern chemicals, with cardinal brands including Ti-Pure and BaiMax. The institution leverages its precocious technologies and established brands to proviso captious materials for high-value applications successful aggregate extremity markets, and it serves a divers lawsuit basal crossed industries specified arsenic coatings, packaging, electronics, automotive, energy, and h2o treatment, chiefly targeting concern and commercialized clients worldwide.

A large caller presumption successful an out-of-favor chemicals sanction seems similar a awesome that a money sees worth that the broader marketplace is missing. Chemours fits that profile. The banal is down much than 40% this twelvemonth and remains astir 80% beneath its 2017 peak, but its latest net amusement a institution stabilizing aft operational disruptions and inactive generating meaningful currency travel contempt brushed concern demand.