11 Undervalued Chemical Stocks to Buy Now

3. Dow Inc. (NYSE:DOW)

Forward P/E: 17.18

Number of Hedge Fund Holders: 48

Dow Inc. (NYSE:DOW) is an American multinational chemical and materials science company. It is one of the world’s leading suppliers of chemicals and plastics. The company has manufacturing sites in 30 countries and serves customers in high-growth markets such as packaging, infrastructure, mobility, and consumer applications. Dow Inc. (NYSE:DOW) ranks among the best chemical stocks to buy.

The company is currently shifting its focus on maintaining long-term competitiveness as it navigates through the ongoing slower-than-expected macroeconomic recovery. On January 30, Dow Inc. (NYSE:DOW) announced plans to achieve $1 billion in cost savings on an annual run-rate basis. Through targeted actions, the company will cut direct expenses by $500 million to $700 million, primarily focusing on purchased services and third-party contract labor. Additionally, Dow Inc. (NYSE:DOW) will decrease labor costs through a workforce reduction of about 1,500 positions globally. These initiatives will align spending with the current economic situation and improve Dow Inc.’s (NYSE:DOW) financial position.