In this piece, we will take a look at the five least innovative companies that are still in business today. For more companies, head on over to 10 Least Innovative Companies That Are Still In Business Today.
5. International Paper Company (NYSE:IP)
Market Capitalization as of January 29, 2023: $11.55 billion
International Paper Company (NYSE:IP) is a packaging company that was set up in 1898 and is headquartered in Tennessee. Like U.S. Pipe, International Paper Company (NYSE:IP) also makes the same products today that it was making in the 19th century. It was formed as a union of paper mills, and at one point was one of the U.S. government’s largest suppliers of paper checks before the government moved to electronic transactions in 2013. The firm has operations all over the world, in regions including the Middle East, Africa, Asia, and Europe.
Insider Monkey took a look at 920 hedge fund holdings for the third quarter of last year to discover that 33 had invested in International Paper Company (NYSE:IP).
International Paper Company (NYSE:IP)’s largest hedge fund investor in our database is Edgar Wachenheim’s Greenhaven Associates which owns 4.9 million shares that are worth $157 million.
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4. Dollar Tree, Inc. (NASDAQ:DLTR)
Market Capitalization as of January 29, 2023: $13.55 billion
Dollar Tree, Inc. (NASDAQ:DLTR) is a discount store chain set up in 1986. It is one of the largest retailers in the world, with more than 15,000 stores all over the U.S. and Canada. It has operated on an ultra low cost retailer model since 1986 when its founders launched a new line of stores under the Only $1.00 branding.
By the end of 2022’s third quarter, 37 out of the 920 hedge funds polled by Insider Monkey had bought Dollar Tree, Inc. (NASDAQ:DLTR)’s shares.
Dollar Tree, Inc. (NASDAQ:DLTR)’s largest investor in our database is Paul Hilal’s Mantle Ridge LP which owns 11.3 million shares that are worth $1.5 billion.
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3. Saudi Basic Industries Corporation (TADAWUL:2010.SR)
Market Capitalization as of January 29, 2023: $76.46 billion (1SAR = 0.27USD)
Saudi Basic Industries Corporation (TADAWUL:2010.SR) is a Saudi chemicals company set up in 1984 and headquartered in Riyadh. Similar to other firms on our list, the firm has stuck to its main business since being set up. The firm was set up to convert oil by products into other products, and it continues to do so today by making ethylene, polyethylene, and other items.
2. Comcast Corporation (NASDAQ:CMCSA)
Market Capitalization as of January 29, 2023: $171 billion
Comcast Corporation (NASDAQ:CMCSA) is one of the largest media companies and telecommunications conglomerates in the world. The firm was set up in 1963 as a cable company, and since then, it has conducted a slew of acquisitions to grow its business. Comcast Corporation (NASDAQ:CMCSA) continues to operate as a cable company today and is based in Philadelphia, Pennsylvania.
Insider Monkey took a look at 920 hedge fund holdings for 2022’s September quarter to discover that 73 had invested in Comcast Corporation (NASDAQ:CMCSA).
Comcast Corporation (NASDAQ:CMCSA)’s largest investor is Jean-Marie Eveillard’s First Eagle Investment Management which owns 31 million shares that are worth $928 million.
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1. Saudi Arabian Oil Company (TADAWUL:2222.SR)
Market Capitalization as of January 29, 2023: $1.93 trillion (1SAR = 0.27USD)
Saudi Arabian Oil Company (TADAWUL:2222.SR) is the world’s largest oil company and one of the most valuable firms in terms of market capitalization. Like other resource rich countries, Saudi Arabia also suffers from what’s called the ‘oil curse,’ where economies fail to innovate since oil provides a steady flow of revenue. After discovering oil in 1932, the firm has been consistently pumping it out since 1938. However, with an eye on the future, the Saudi Arabian Oil Company (TADAWUL:2222.SR) is heavily investing into up and coming technologies such as artificial intelligence.
Disclosure: None. You can also take a peek at 11 Best Mineral Stocks To Buy Now and 12 Best Holding Company Stocks To Invest In.
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