5 Best Plastics Stocks To Buy Now

1. Carlisle Companies (NYSE:CSL)

Number of Hedge Fund Holders: 30

Carlisle Companies (NYSE:CSL) is a Scottsdale, Arizona-based diversified company involved in the production of dip molding plastics. The company primarily manufactures specialized rubber and plastic products with an emphasis on the construction industry.

On October 14, Daniel Oppenheim at Credit Suisse upgraded Carlisle Companies (NYSE:CSL) stock from a Neutral to an Outperform rating with a target price of $363. The analyst anticipates the company to benefit from the secular trend that is focused on building greater efficiency. Due to the strong demand for its commercial offerings, Oppenheim believes that Carlisle Companies (NYSE:CSL) can experience healthy growth during recessionary periods, which makes it one of the best plastics stocks to hold in the long run. The stock also offers an annual forward dividend yield of 1.01% as of October 21.

Here’s what Polen Capital said about Carlisle Companies (NYSE:CSL) in its Q2 2022 investor letter:

“CSL’s recent update indicated that the worst COVID-19 impacts on the business are likely past, with plasma collections now snapping back. CSL’s core business continues to enjoy significant competitive advantages, in our view, and, as collected plasma is processed into finished products, we believe sales will return to their pre-COVID-19 levels. It will take time for this to play out, but it is a welcome improvement. Most of the other segments of the business are performing well, and steady demand for CSL’s products, which are less economically sensitive, has likely contributed to the stability of shares recently.”

You can also take a peek at the 12 Best Emerging Stocks To Buy Now and the 15 Best Single Digit Stocks To Invest In.

Follow Insider Monkey on Twitter