9 Best Plastics and Rubber Stocks to Buy

4. Dow Inc. (NYSE:DOW)

Number of Hedge Fund Holders: 35

Dow Inc. (NYSE:DOW) is a leader in materials science, providing solutions for critical industries like packaging, infrastructure, transportation, and consumer goods. The company operates across 31 countries, employing a workforce of roughly 35,900 people.

In April, Dow Inc. (NYSE:DOW) announced its Q1 2024 results. GAAP EPS was reported at $0.73, while operating EPS, at $0.56, showed a slight year-over-year decline but an improvement from the previous quarter. Sales dropped 9% year-over-year, yet there was a positive note with a 1% sequential increase driven by Performance Materials & Coatings and Industrial Intermediates & Infrastructure. Overall volume increased by 1% year-over-year, with gains in most regions.

Furthermore, the company’s equity earnings totaled $17 million, marking a $65 million improvement from the same period last year and a $24 million sequential increase. This reflected gains across all of the company’s major joint ventures.

Analyst expectations for Dow Inc. (NYSE:DOW) are moderately bullish over the next year. On average, analysts predict a price target of $61.42 within the next 12 months, ranging from a low of $55 to a high of $68. This represents a potential upside of 9.31% from the current price levels.

As of Q1 2024, Dow Inc. (NYSE:DOW) stock was held by 35 hedge funds.