Sealed Air Corp (SEE), W. R. Grace & Co (GRA), and Eastman Chemical Company (EMN) Are The Top Materials Picks Of Iridian Asset Management

Next on our list is W. R. Grace & Co (NYSE:GRA), in which Iridian Asset Management increased its stake during the quarter by about 7% to 6.18 million shares, valued at $619.4 million. W. R. Grace & Co (NYSE:GRA) is a global supplier of catalysts, engineered and packaging materials, and specialty construction chemicals and building materials. The market cap of the company is about $7.3 billion. For the second quarter, W. R. Grace & Co (NYSE:GRA) did not post impressive financial results, with its net income decreasing to $57.4 million, or $0.78 a share, versus net income of $136.2 million, or $1.77 a share, in the same quarter of last year. Shares of the company’s stock have gained 3.42% year-to-date nonetheless. John Griffin’s Blue Ridge Capital also sees value in W. R. Grace & Co (NYSE:GRA), holding 3.19 million shares as of March 31.

Third on our list is Eastman Chemical Company (NYSE:EMN), in which Iridian Asset Management raised its position by approximately 9% to 4.84 million shares, worth $395.8 million. Eastman Chemical Company (NYSE:EMN) is an $11.62 billion global specialty chemical company engaged in the production of a broad range of advanced materials, additives and functional products, specialty chemicals, and fibers. For the second quarter, Eastman Chemical Company (NYSE:EMN) reported earnings of $1.98 per diluted share, versus $1.92 per diluted share for the same quarter last year. Sales revenue for the quarter was $2.5 billion, representing a 3% increase compared with the prior-year quarter. Eastman Chemical Company (NYSE:EMN)’s stock has gained 1.19% year-to-date. In its latest 13F for the June 30 reporting period, Ken Griffin’s Citadel Investment Group disclosed holding 1.96 million shares of Eastman Chemical Company (NYSE:EMN).

Disclosure: None