8 Best Cleaning Materials Stocks To Invest In Now

2. Colgate-Palmolive Company (NYSE:CL)

Number of Hedge Fund Holders as of Q2 2024: 52

The Colgate-Palmolive Company (NYSE:CL) manufactures and sells various products for the personal and home care markets and operates in two product segments: Oral, Personal, and Home Care, along with Pet Nutrition. The Oral, Personal, and Home Care segment sells cleaning products throughout the globe, managed geographically in five segments, including North America, Europe, Latin America, Africa/Eurasia, and Asia Pacific. These products are sold to wholesalers, traditional and e-commerce retailers, distributors, dentists, and skin health professionals.

The company’s products are sold under several reputable brand names, including Colgate, Palmolive, Irish Spring, Sorriso, Protex, meridol, Axion, Sanex, and several more. The Colgate-Palmolive Company (NYSE:CL) aims to deliver consistent compounded earnings growth, and it is driving balanced organic sales growth across all six divisions and four categories. It is doing so with a combination of volume and pricing growth.

It has revamped its innovation model, invested in marketing spend, leveraged its global strength across price tiers, scaling new capabilities across the organization to drive brand health and boost household penetration. An early success for this strategy is the company’s return to mid-single-digital volume growth in Q2.

The Colgate-Palmolive Company (NYSE:CL) is also leveraging data and analytics tools, including AI, to track the effectiveness of these activities and optimize the return on its increased spending. With the effective combination of the company’s continued success in revenue growth management strategy and increased penetration, it plans to drive consistent, balanced top-line growth. It takes the second spot on our list of the 8 best cleaning material stocks to invest in now.

ClearBridge Investments’ ClearBridge Sustainability Leaders Strategy stated the following regarding Colgate-Palmolive Company (NYSE:CL) in its Q2 2024 investor letter:

“Colgate-Palmolive Company (NYSE:CL), added to the portfolio in 2023, started outperforming materially toward the tail end of last year as growth, margin and market share momentum began to turn favorably, and that momentum has continued year to date as the stock has nicely outperformed the large cap staples group. The fundamental upside has been driven by a combination of healthy organic growth (with positive volumes), good gross margin progression, and strong re-investment spending supporting market share gains and future growth.”