8 Best Plastics Stocks To Invest In Now

3. Carlisle Companies Incorporated (NYSE:CSL)

Number of Hedge Fund Holders: 40

Carlisle Companies Incorporated (NYSE:CSL) is a key player in the manufacturing of plastic products, particularly in the building materials sector. The company is dedicated to creating building products and solutions for energy-efficient buildings.

On October 17, 2024, Carlisle Companies Incorporated (NYSE:CSL) announced its plan to acquire the expanded polystyrene (EPS) insulation segment of PFB Holdco, which includes the Plasti-Fab and Insulspan brands. This acquisition, valued at $259.5 million, will enhance Carlisle’s (NYSE:CSL) position in the $1.5 billion North American expanded polystyrene insulation market. By integrating Plasti-Fab’s capabilities, Carlisle Companies Incorporated (NYSE:CSL) aims to strengthen its product offerings and fill geographic gaps in both the US and Canada.

The acquisition aligns with Carlisle’s (NYSE:CSL) Vision 2030 strategy, which emphasizes growth through innovation and strategic acquisitions. The company expects this move to generate around $14 million in annual cost synergies and boost its adjusted earnings per share by approximately $0.30 in 2025. Carlisle Companies Incorporated (NYSE:CSL) is also significantly increasing its investment in research and development, targeting $1 billion over the Vision 2030 timeframe. This investment aims to drive new product development, with a goal of generating 25% of revenue from new products, up from 15% currently.

These strategic initiatives highlight Carlisle’s (NYSE:CSL) commitment to enhancing its product portfolio and market presence. CSL ranks among the best plastics stocks to buy now.