Is Chemours Co (NYSE:CC) a Good Stock To Buy?

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Now, key money managers were breaking ground themselves. GMT Capital, managed by Thomas E. Claugus, initiated the largest position in Chemours Co (NYSE:CC). GMT Capital had $44.9 million invested in the company at the end of the quarter. Nelson Peltz’s Trian Partners also made a $31.6 million investment in the stock during the quarter. The following funds were also among the new CC investors: John Petry’s Sessa Capital, David Stemerman’s Conatus Capital Management, and D E Shaw.

Let’s check out hedge fund activity in other stocks similar to Chemours Co (NYSE:CC). These stocks are Granite Construction Inc. (NYSE:GVA), Potlatch Corporation (NASDAQ:PCH), Hyster-Yale Materials Handling Inc (NYSE:HY), and Children’s Place Retail Stores, Inc. (NASDAQ:PLCE). This group of stocks’ market valuations match CC’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
GVA 17 58763 3
PCH 13 64274 3
HY 13 40645 0
PLCE 11 184701 -8

As you can see these stocks had an average of 13.5 hedge funds with bullish positions and the average amount invested in these stocks was $87 million. That figure was $172 million in CC’s case. Granite Construction Inc. (NYSE:GVA) is the most popular stock in this table. On the other hand Children’s Place Retail Stores, Inc. (NASDAQ:PLCE) is the least popular one with only 11 bullish hedge fund positions. Compared to these stocks Chemours Co (NYSE:CC) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

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