10 Best Plastics and Rubber Stocks to Buy According to Analysts

4. Eastman Chemical Company (NYSE:EMN)

Upside Potential as of January 13: 27.57%

One of the Best Plastics Stocks, Eastman Chemical Company (NYSE:EMN) is establishing itself as a pioneer in the circular economy by emphasizing sustainability and utilizing cutting-edge recycling technologies such as Polyester Renewal Technology (PRT) and Carbon Renewal Technology (CRT), which transform waste plastic into superior products. These innovations help alleviate the global plastic waste challenge while propelling growth in areas including consumer durables, textiles, and packaging, even though only a small portion of the 360 million metric tons of plastic garbage each year is recycled. The firm is positioned for a sustainable and prosperous future because of strategic investments in new recycling facilities in Tennessee, Texas, and France, including the largest methanolysis plant in the world, located in Kingsport, Tennessee. These investments are anticipated to provide over $500 million in EBITDA by 2029.

Eastman Chemical Company (NYSE:EMN)’s product portfolio is diverse, with a strong emphasis on sustainability-driven markets. Its products, such as Tritan Renew and Naia Renew, are manufactured using molecularly recycled feedstocks and cater to high-growth industries like packaging, textiles, and consumer goods. The company’s strategic growth strategies, which include ambitions to produce significant EBITDA through new facilities like the Longview, Texas plant, which is estimated to generate at least $150 million in EBITDA at full capacity, highlight its commitment to sustainability.

Eastman Chemical Company (NYSE:EMN)’s financial situation is improving, as evidenced by rising EBIT margins and EBITDA growth predicted to reach a compound annual growth rate (CAGR) of 8.3% through 2029. The company’s dedication to providing investors with value is shown by its strong track record of shareholder returns, which includes a 15-year run of dividend hikes and 2.5% yearly share buybacks. Despite certain hurdles in recent years, Eastman’s diverse business strategy and strategic investments in sustainable technologies have positioned the company for long-term growth and prosperity.

Ken Griffin’s Citadel Investment Group was the largest stakeholder in the company among the funds in Insider Monkey’s database. It owns 663,884 shares worth $74.32 million as of Q3.