Updating The Chemours Co., Newell Brands Inc. & Bed, Bath & Beyond Inc.

Article Excerpt

THE CHEMOURS CO. $23 (New York symbol CC; Manufacturing sector; Shares outstanding: 164.0 million; Market cap: $3.8 billion; Dividend yield 4.3%; Takeover Target Rating: Highest; www.chemours.com) began trading in July 2015 after DuPont (now DowDuPont) spun off the company. It makes a variety of chemicals, including titanium dioxide (TiO2), a popular pigment; refrigerants and Teflon coatings; and chemicals for gold production, water treatment and other industrial uses. In the three months ended March 31, 2019, Chemours’ revenue fell 20.5%, to $1.38 billion from $1.73 billion a year earlier. That drop was mainly due to lower sales of titanium dioxide compared to record sales in the year-earlier quarter. Illegal imports of refrigerants also hurt demand for those products in Europe. Earnings in the quarter also declined 65.2%, to $0.55 from $1.58. Despite the lower first quarter earnings, Chemours’ shares have gained 12% since the spinoff from DuPont. We still feel its patent-protected products and relatively small size enhance its appeal as a takeover target. The stock…