Knightsbridge Asset Management Lowers stake in Chemours Co (CC)

Chemours Co (CC) : Knightsbridge Asset Management reduced its stake in Chemours Co by 32.34% during the most recent quarter end. The investment management company now holds a total of 432,148 shares of Chemours Co which is valued at $4,948,095 after selling 206,519 shares in Chemours Co , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Chemours Co makes up approximately 4.26% of Knightsbridge Asset Management’s portfolio.

Other Hedge Funds, Including , Winton Capital Group Ltd boosted its stake in CC in the latest quarter, The investment management firm added 194 additional shares and now holds a total of 15,473 shares of Chemours Co which is valued at $177,166.Fmr reduced its stake in CC by selling 27,280 shares or 6.46% in the most recent quarter. The Hedge Fund company now holds 395,195 shares of CC which is valued at $4,524,983. Ancora Advisors sold out all of its stake in CC during the most recent quarter. The investment firm sold 13,180 shares of CC which is valued $150,911.

Chemours Co opened for trading at $13.3 and hit $13.58 on the upside on Thursday, eventually ending the session at $13.47, with a gain of 2.12% or 0.28 points. The heightened volatility saw the trading volume jump to 17,09,435 shares. Company has a market cap of $2,445 M.

On the company’s financial health, Chemours Co reported $0.27 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Aug 8, 2016. Analyst had a consensus of $0.17. The company had revenue of $1383.00 million for the quarter, compared to analysts expectations of $1418.96 million. The company’s revenue was down -8.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.10 EPS.

The Chemours Company (Chemours) is a provider of performance chemicals. The Company delivers solutions with a range of industrial and specialty chemical products for markets including plastics and coatings refrigeration and air conditioning general industrial and mining and oil refining. The Company operates through three segments: Titanium Technologies Fluoroproducts and Chemical Solutions. The Titanium Technologies segment is a producer of titanium dioxide (TiO2) under the brands including Ti-Pure and Vantage. Its Fluoroproducts segment is a provider of fluoroproducts under the brands including Suva ISCEON Freon Opteon Teflon Tefzel Viton Krytox Formacel Dymel FM 200 Nafion and Capstone. Its Chemical Solutions segment is a provider of industrial and specialty performance chemicals under the brands including Virkon and Oxone. The Company’s products include titanium dioxide refrigerants industrial fluoropolymer resins sodium cyanide sulfuric acid and aniline.

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