Madison Small Cap Fund Exited The Chemours Company (CC) on Strength

Madison Investments, an investment advisor, released its “Madison Small Cap Fund” third-quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund (Class Y) declined 6.1% compared to a 5.1% decline for the Russell 2000 Index. Year-to-date, the fund is up 4.3% compared to 2.5% for the index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Madison Small Cap Fund highlighted stocks like The Chemours Company (NYSE:CC) in the third quarter 2023 investor letter. Headquartered in Wilmington, Delaware, The Chemours Company (NYSE:CC) is a chemical company. On October 24, 2023, The Chemours Company (NYSE:CC) stock closed at $24.09 per share. One-month return of The Chemours Company (NYSE:CC) was -12.34%, and its shares lost 17.56% of their value over the last 52 weeks. The Chemours Company (NYSE:CC) has a market capitalization of $3.567 billion.

Madison Small Cap Fund made the following comment about The Chemours Company (NYSE:CC) in its Q3 2023 investor letter:

“We exited The Chemours Company (NYSE:CC) on the strength of its year-to-date performance and the growing export of chloride-based titanium dioxide from China. Weaker economic growth in China, combined with increased capacity, is a headwind for European and North American pricing.”

A closeup of a Petrochemical product being inspected for quality assurance. Editorial photo for a financial news article. 8k. –ar 16:9

The Chemours Company (NYSE:CC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 30 hedge fund portfolios held The Chemours Company (NYSE:CC) at the end of second quarter which was 34 in the previous quarter.

We discussed The Chemours Company (NYSE:CC) in another article and shared the list of best US chemical stocks to buy. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.