3 Stocks Driving The Chemicals Industry Higher
Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.
All three major indices are trading down today with the
Dow Jones Industrial Average
(
^DJI
) trading down 110 points (-0.6%) at 18,094 as of Wednesday, March 4, 2015, 11:55 AM ET. The NYSE advances/declines ratio sits at 978 issues advancing vs. 1,971 declining with 175 unchanged.
The Chemicals industry currently sits down 0.5% versus the S&P 500, which is down 0.5%. A company within the industry that increased today was
(
), up 0.6%. On the negative front, top decliners within the industry include
(
), down 3.1%, and
(
), down 0.6%.
TheStreet would like to highlight 3 stocks pushing the industry higher today:
3.
(
) is one of the companies pushing the Chemicals industry higher today. As of noon trading, Olin is up $1.69 (6.0%) to $29.79 on heavy volume. Thus far, 708,026 shares of Olin exchanged hands as compared to its average daily volume of 802,500 shares. The stock has ranged in price between $28.03-$29.84 after having opened the day at $28.03 as compared to the previous trading day's close of $28.10.
Olin Corporation manufactures and sells chlor alkali products in the United States and internationally. The company operates in three segments, Chlor Alkali Products, Chemical Distribution, and Winchester. Olin has a market cap of $2.2 billion and is part of the basic materials sector. Shares are up 23.4% year-to-date as of the close of trading on Tuesday. Currently there are 2 analysts who rate Olin a buy, no analysts rate it a sell, and 5 rate it a hold.
TheStreet Ratings rates
Olin
as a
. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full
now.
2. As of noon trading,
(
) is up $0.82 (1.4%) to $58.78 on average volume. Thus far, 353,196 shares of Celanese exchanged hands as compared to its average daily volume of 936,300 shares. The stock has ranged in price between $57.32-$58.82 after having opened the day at $57.81 as compared to the previous trading day's close of $57.97.
Celanese Corporation, a technology and specialty materials company, manufactures and sells value-added chemicals, thermoplastic polymers, and other chemical-based products worldwide. Celanese has a market cap of $8.9 billion and is part of the basic materials sector. Shares are down 3.3% year-to-date as of the close of trading on Tuesday. Currently there are 5 analysts who rate Celanese a buy, 1 analyst rates it a sell, and 7 rate it a hold.
TheStreet Ratings rates
Celanese
as a
. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, good cash flow from operations and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full
now.
1. As of noon trading,
(
) is up $0.49 (1.0%) to $49.74 on average volume. Thus far, 4.5 million shares of Dow Chemical exchanged hands as compared to its average daily volume of 9.5 million shares. The stock has ranged in price between $48.85-$49.80 after having opened the day at $49.10 as compared to the previous trading day's close of $49.25.
The Dow Chemical Company manufactures and supplies chemical products for use as raw materials in the manufacture of customer products and services worldwide. Dow Chemical has a market cap of $57.1 billion and is part of the basic materials sector. Shares are up 8.0% year-to-date as of the close of trading on Tuesday. Currently there are 6 analysts who rate Dow Chemical a buy, 3 analysts rate it a sell, and 9 rate it a hold.
TheStreet Ratings rates
Dow Chemical
as a
. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, good cash flow from operations and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full
now.
If you are interested in one of these 3 stocks, ETFs may be of interest. Investors who are bullish on the chemicals industry could consider
(
) while those bearish on the chemicals industry could consider
ProShares Short Basic Materials Fd
(
).
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