10 Best Chemical Stocks to Buy According to Jonathan Barrett and Paul Segal’s Luminus Management

Published September 22, 2021 at 10:33 am EDT Updated August 19, 2026 at 5:21 am EDT

In this article, we take a look at the 10 best chemical stocks to buy according to Jonathan Barrett and Paul Segal’s Luminus Management. The chemical industry fuels economic growth worldwide, be it manufacturing, construction, consumer products, packaging, or electronics. Chemical stocks experienced a tough time in 2020 in the midst of the pandemic, but they are ripe for growth in 2021.

The chemicals industry lies at the center of the production, manufacturing, and industrial boom worldwide. The sector provides industrial chemicals that feed global production, construction, consumer products manufacturing, and plastics. The chemicals industry also converts raw materials to over 70,000 different products. The industry is notorious for its cyclical nature and was hammered badly by the coronavirus crisis. As the world came to a screeching halt, production and manufacturing crashed worldwide, resulting in massive revenue declines for top chemical companies in the U.S. and abroad. But a strong recovery is on the horizon as the world prepares to reopen following the availability of COVID-19 vaccines.

According to Deloitte’s 2021 chemical industry outlook, the chemical industry revenues are expected to grow about 8% in 2021 after facing a decline of 9% in 2020. The operating income of the industry is expected to jump by almost 17% in 2021 after a 14% decline in 2020. The report noted that although the chemical industry had downsized 2% of its entire workforce during the peak pandemic period, the demand for R&D experts, engineers, and chemical researchers is growing as chemical companies rethink their product strategies and prepare to adapt to the rapidly changing industry demands. Top chemical companies will shift their focus to areas like healthcare, microelectronics, advanced materials for construction, recycling technologies, new solvent cleaning technologies, and electric vehicles, the report said. Deloitte found in a survey that 64% of chemical executives believe that advanced chemicals and materials for construction applications will likely drive most of the industry’s growth in 2021. These emerging trends will fuel the growth of chemical stocks in 2021.

According to the American Chemistry Council’s 2021 outlook, chemical industry production volumes, shipments, and capital spending will rebound from the economic and business disruption caused by COVID-19. U.S. chemical volumes are expected to grow by 1.4% in 2021 and 3.2% in 2022, while shipments will increase 8.1% in 2021 and 8.2% in 2022 after falling 13.5% in 2020. Chemical industry capital spending will be up 11.9% to $30.6 billion in 2021 and rise 3.1% in 2022 after falling 17.6% in 2020. Basic chemicals will expand by 0.5% in 2021 and 3.4% in 2022. Specialty chemicals will expand by 3.8% in 2021 and 4.1% in 2022 after falling 10.8% in 2020.

Luminus Management is an investment management firm founded in 2002 by Jonathan Barrett and Paul Segal. The firm focuses on a low net, long/short, value-oriented strategy that invests opportunistically across the capital structure of companies within the broader energy ecosystem. Luminus’ coverage universe includes sectors that are interrelated fundamentally and synergistic from a research and information perspective, including power, utilities, MLPs, E&P, drillers, refiners, engineering and construction, and coal/steel. President and Portfolio Manager Jonathan Barrett manages over $686 million in 13F securities and leads a team of investment professionals who seek to generate alpha via deep fundamental analysis. The firm has a general focus on opportunities within North America.

Jonathan Barrett of Luminus Management

Why should we take a look at Luminus Management’s 10 best chemical stocks? Insider Monkey’s research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 86 percentage points since March 2017. Between March 2017 and July 2021 our monthly newsletter’s stock picks returned 186.1%, vs. 100.1% for the SPY. Our stock picks outperformed the market by 86 percentage points (see the details here). That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to. You can subscribe to our free newsletter on our homepage to receive our stories in your inbox.

Among top chemical companies that contributed the most to Luminus Management’s portfolio were Linde plc (NYSE: LIN), H.B. Fuller Company (NYSE: FUL), Atotech Limited (NYSE: ATC), The Chemours Company (NYSE: CC), and Ferro Corporation (NYSE: FOE).

Our Methodology

With this context in mind, here is our list of the 10 best chemical stocks to buy according to Jonathan Barrett and Paul Segal’s Luminus Management. These were ranked according to the investment portfolio of Luminus Management at the end of the second quarter of 2021. The analyst ratings of each company are also discussed to provide readers with some more context for their investment decisions.

Best Chemical Stocks to Buy According to Jonathan Barrett and Paul Segal’s Luminus Management

10. Ferro Corporation (NYSE:FOE)

Barrett and Segal’s Stake Value: $2,121,000

Percentage of Jonathan Barrett and Paul Segal’s 13F Portfolio: 0.3%

Number of Hedge Fund Holders: 23

Ferro Corporation produces and markets specialty materials in the United States, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It operates through two segments, Functional Coatings, and Color Solutions. The company’s products are used in appliances, electronics, automotive, industrial products, building and renovation, packaging, consumer products, sanitary, construction, healthcare, food and beverage, information technology, energy, and defense industries. It markets and sells its products directly, as well as through agents and distributors. Ferro Corporation was founded in 1919 and is headquartered in Mayfield Heights, Ohio.

This February, Deutsche Bank analyst David Begleiter raised his price target on Ferro Corporation from $16 to $18 and kept a Buy rating on the shares.

Ferro Corporation is ranked 10th on our list of 10 best chemical stocks to buy according to Jonathan Barrett and Paul Segal’s Luminus Management. Based on the latest 13F filings, Jonathan Barrett and Paul Segal’s Luminus Management holds more than 98,000 shares of Ferro Corporation, worth $2.12 million as of the second quarter of 2021. These shares represent 0.3% of Luminus Management’s investment portfolio.

As of the fiscal second quarter of 2021, Ferro Corporation reported earnings per share of $0.20, missing estimates by -$0.07. Ferro Corporation also generated revenues of $294.33 million, representing a 43.72% year-over-year growth rate, beating estimates by $31.04 million. On top of this, the share price for Ferro Corporation has gained 18.42% over the past 6 months, and 43.85% year to date.

By the end of the second quarter of 2021, 23 hedge funds out of the 873 tracked by Insider Monkey held stakes in Ferro Corporation worth roughly $388 million. This is compared to 12 hedge funds in the previous quarter with a total stake value of approximately $181.8 million.

Like Linde plc (NYSE: LIN), H.B. Fuller Company, Atotech Limited, and The Chemours Company, Ferro Corporation is one of the 10 best chemical stocks to buy according to Jonathan Barrett and Paul Segal’s Luminus Management.

Madison Funds, an investment management firm, published their “Madison Small Cap Fund” second-quarter 2021 investor letter in which they mentioned Ferro Corporation and discussed their stance on the firm. Here’s what they had to say:

“Another core position, Ferro Corp (FOE) announced its acquisition by private equity in the second quarter. Ferro was a relatively new addition to the portfolio in 2020, but a company that we have invested in multiple times over our strategy’s history. The company had recently divested its least attractive division, fixed its balance sheet, and was focused on growing its core inorganic materials and pigments businesses. We had posited that there was a myriad of small M&A opportunities for the company now that the balance sheet was de-levered. While we were happy to book a solid gain for our investors, we were disappointed that the company chose to continue this strategy in private, denying us the opportunity to participate.”

9. Linde plc (NYSE:LIN)

Barrett and Segal’s Stake Value: $4,989,000

Percentage of Jonathan Barrett and Paul Segal’s 13F Portfolio: 0.72%

Number of Hedge Fund Holders: 55

Linde plc (NYSE: LIN) operates as an industrial gas company in North and South America, Europe, the Middle East, Africa, and the Asia Pacific. It offers oxygen, nitrogen, argon, rare gases, carbon dioxide, hydrogen, helium, electronic and specialty gases, acetylene, and carbon monoxide. The company also designs and constructs turnkey process plants, such as olefin, natural gas, air separation, hydrogen and synthesis gas, and other plants. It serves healthcare, petroleum refining, manufacturing, food, beverage carbonation, fiber-optics, steel making, aerospace, electronics, chemical, and water treatment industries. Linde plc (NYSE: LIN) was founded in 1879 and is based in Guildford, the United Kingdom.

This August, Wells Fargo analyst Michael Sison raised his price target on Linde plc (NYSE: LIN) from $340 to $360 and kept an Overweight rating on the shares. The analyst maintains his favorable view on industrial gases and Linde plc (NYSE: LIN) as a quality earnings growth leader within the sector. He continues to expect +10% EPS growth in the coming years, given the company’s $7.5 billion order backlog, with additional upside opportunities from clean hydrogen driving the next leg of growth through the next decade.

Linde plc (NYSE: LIN) is ranked 9th on our list of 10 best chemical stocks to buy according to Jonathan Barrett and Paul Segal’s Luminus Management. Based on the latest 13F filings, Jonathan Barrett and Paul Segal’s Luminus Management holds a little over 17,000 shares of Linde plc (NYSE: LIN), worth $4.98 million as of the second quarter of 2021. These shares represent 0.72% of Luminus Management’s investment portfolio.

As of the fiscal second quarter of 2021, Linde plc (NYSE: LIN) registered an EPS of $2.70, beating estimates by $0.17. The company also reported revenues of up to $7.58 billion, up 18.93% year-over-year, and beating estimates by $202.68 million. Linde plc (NYSE: LIN) has gained 16.15% over the past 6 months, and 20.97% year to date.

By the end of the second quarter of 2021, 55 hedge funds out of the 873 tracked by Insider Monkey held stakes in Linde plc (NYSE: LIN) worth roughly $5.92 billion. This is compared to 43 hedge funds in the previous quarter with a total stake value of approximately $4.63 billion.

Like H.B. Fuller Company, Atotech Limited, The Chemours Company, and Ferro Corporation, Linde plc (NYSE: LIN) is among the 10 best chemical stocks to buy according to Jonathan Barrett and Paul Segal’s 13F portfolio.

8. H.B. Fuller Company (NYSE:FUL)

Barrett and Segal’s Stake Value: $4,991,000

Percentage of Jonathan Barrett and Paul Segal’s 13F Portfolio: 0.72

Number of Hedge Fund Holders: 12

H.B. Fuller Company, together with its subsidiaries, formulates, manufactures, and markets adhesives, sealants, coatings, polymers, tapes, encapsulants, additives, and other specialty chemical products worldwide. H.B. Fuller Company operates through three segments: Hygiene, Health and Consumable Adhesives; Engineering Adhesives; and Construction Adhesives. The company sells its products directly through distributors and retailers. H.B. Fuller Company was founded in 1887 and is headquartered in Saint Paul, Minnesota.

This June, Deutsche Bank analyst David Begleiter raised his price target on H.B. Fuller Company from $65 to $67 and kept a Hold rating on the shares post the fiscal second-quarter results.

H.B. Fuller Company is ranked 8th on our list of 10 best chemical stocks to buy according to Jonathan Barrett and Paul Segal’s Luminus Management. Based on the latest 13F filings, Jonathan Barrett and Paul Segal’s Luminus Management holds more than 78,000 shares of H.B. Fuller Company worth $4.99 million as of the second quarter of 2021. These shares represent 0.72% of Luminus Management’s investment portfolio.

As of the fiscal second quarter of 2021, H.B. Fuller Company reported earnings per share of $0.94, beating estimates by $0.02. The company also reported revenues amounting to $827.87 million, up 22.72% year-over-year, and beating estimates by $63.51 million. On top of this, H.B. Fuller Company has gained 0.35% over the past 6 months, and 18.72% year to date.

By the end of the second quarter of 2021, 12 hedge funds out of the 873 tracked by Insider Monkey held stakes in H.B. Fuller Company worth roughly $161 million. This is compared to 16 hedge funds in the previous quarter with a total stake value of approximately $177.5 million.

Like Atotech Limited, The Chemours Company, Ferro Corporation, and Linde plc (NYSE: LIN), H.B. Fuller Company is among the 10 best chemical stocks to buy according to Luminus Management.

7. Atotech Limited (NYSE:ATC)

Barrett and Segal’s Stake Value: $7,159,000

Percentage of Jonathan Barrett and Paul Segal’s 13F Portfolio: 1.04%

Number of Hedge Fund Holders: 23

Atotech Limited is a chemicals technology company that provides specialty electroplating and surface finishing solutions worldwide. Atotech Limited operates in two segments, Electronics (EL) and General Metal Finishing (GMF). The company’s products and technologies serve the primary surface finishing end markets comprising the automotive, consumer electronics, construction, sanitary, white goods, and oil and gas industries. The company also offers on-site support and training services. Atotech Limited was founded in 1851 and is headquartered in West Bromwich, United Kingdom.

This March, Jefferies analyst Laurence Alexander initiated coverage of Atotech Limited with a Buy rating and $26 price target. The company is the market leader in plating chemicals for decorative finishes and functional surfaces in electronics and general metal applications, noted Alexander, who sees an attractive opportunity given his view that Atotech “combines double-digit growth prospects with relative undervaluation.”

Atotech Limited is ranked 7th on our list of 10 best chemical stocks to buy according to Jonathan Barrett and Paul Segal’s Luminus Management. Based on the latest 13F filings, Jonathan Barrett and Paul Segal’s Luminus Management holds more than 280,000 shares of Atotech Limited worth $7.15 million as of the second quarter of 2021. These shares represent 1.04% of Luminus Management’s investment portfolio.

As of the fiscal second quarter of 2021, Atotech Limited registered an EPS of $0.29 beating estimates by $0.15. The company also generated revenues that amounted to $376.6 million beating estimates by $40.47 million. On top of this, Atotech Limited has gained 9.99% over the past 6 months, and 25.25% year to date.

Like The Chemours Company, Ferro Corporation, Linde plc (NYSE: LIN), and H.B. Fuller Company, Atotech Limited is among the 10 best chemical stocks to buy according to Luminus Management.

6. The Chemours Company (NYSE:CC)

Barrett and Segal’s Stake Value: $7,496,000

Percentage of Jonathan Barrett and Paul Segal’s 13F Portfolio: 1.09%

Number of Hedge Fund Holders: 24

The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. It operates through four segments: Titanium Technologies, Thermal & Specialized Solutions, Advanced Performance Materials, and Chemical Solutions. The company sells its products through direct channels, as well as through a network of resellers and distributors. The Chemours Company was founded in 2014 and is headquartered in Wilmington, Delaware.

This August, RBC Capital analyst Arun Viswanathan raised his price target on The Chemours Company from $35 to $40 and kept an Outperform rating on the shares. The analyst believes that the anticipated industrial recovery this year will drive more favorable titanium dioxide conditions, which will be the first to recover as automotive and industrial production recovers in a post-COVID environment.

The Chemours Company is ranked 6th on our list of 10 best chemical stocks to buy according to Jonathan Barrett and Paul Segal’s Luminus Management. Based on the latest 13F filings, Jonathan Barrett and Paul Segal’s Luminus Management owns more than 215,000 shares of The Chemours Company worth $7.49 million as of the second quarter of 2021. These shares represent 1.09% of Luminus Management’s investment portfolio.

As of the fiscal second quarter of 2021, The Chemours Company registered earnings per share of $1.20, beating estimates by $0.26. The company also generated revenues that amounted to $1.66 billion, up 51.42% year-over-year, and beating estimates by $125.78 million. On top of this, the share price for The Chemours Company has seen gains of 11.83% over the past 6 months and 23.81% year to date.

By the end of the second quarter of 2021, 24 hedge funds out of the 873 tracked by Insider Monkey held stakes in The Chemours Company worth roughly $562 million. This is compared to 27 hedge funds in the previous quarter with a total stake value of approximately $544.7 million.

Like Atotech Limited, Ferro Corporation, Linde plc (NYSE: LIN), and H.B. Fuller Company, The Chemours Company is among the top 10 picks for best chemical stocks to buy according to Luminus Management.

Greenlight Capital, an investment management firm, published its “Global Growth Fund” second quarter 2021 investor letter, in which the firm mentioned The Chemours Company and shared its stance on the company. Here’s what they had to say:

“Titanium Dioxide

Titanium dioxide is the chemical that makes coatings and plastics white or opaque. There was substantial capacity added in China between 2011 and 2013, but little since. In fact, some Chinese capacity has been shuttered for economic and/or environmental reasons. The last plant built in the U.S. came on-line in 2016 and added 2.8% to global capacity. There had been no Western capacity built for many years prior to that, and presently, no Western company has announced plans to build new plants. The post-COVID construction boom (possibly followed by an infrastructure boom) has left the world structurally short titanium dioxide. Spot pricing is up substantially this year in the face of supply shortages.

We own Chemours (CC), which is one of the few industry players with some spare capacity and is poised to benefit from higher prices and volumes. It trades for around 10x this year’s consensus earnings estimates.”

5. PPG Industries, Inc. (NYSE:PPG)

Barrett and Segal’s Stake Value: $7,506,000

Percentage of Jonathan Barrett and Paul Segal’s 13F Portfolio: 1.09%

Number of Hedge Fund Holders: 26

PPG Industries, Inc. (NYSE: PPG) is an American Fortune 500 company and global supplier of paints, coatings, and specialty materials. With headquarters in Pittsburgh, Pennsylvania, PPG Industries, Inc. operates in more than 70 countries around the globe. By revenue, it is the largest coatings company in the world.

This July, Susquehanna analyst Sandy Klugman upgraded PPG Industries, Inc. to Positive from Neutral with a price target of $190, up from $115. PPG Industries, Inc. remains well-positioned to benefit from continued favorable trends across architectural coatings markets and eventual volume recovery in higher-margin end-markets, Klugman told investors in a research note. Further, the company has the potential to recapture deferred demand in auto manufacturing associated with the semiconductor chip shortage, says the analyst.

Based on the latest 13F filings, Jonathan Barrett and Paul Segal’s Luminus Management holds more than 44,000 shares of PPG Industries, Inc. worth $7.5 million as of the second quarter of 2021. These shares represent 1.09% of Luminus Management’s investment portfolio.

As of the fiscal second quarter of 2021, PPG Industries, Inc. reported earnings per share of $1.94, missing estimates by -$0.24. The company also generated revenues that amounted to $4.36 billion, up 44.58% year-over-year, and beating estimates by $42.75 million. On top of this, PPG Industries, Inc. has gained 2.20% over the past 6 months, and 6% year to date.

By the end of the second quarter of 2021, 26 hedge funds out of the 873 tracked by Insider Monkey held stakes in PPG Industries, Inc. worth roughly $233.7 million. This is compared to 25 hedge funds in the previous quarter with a total stake value of approximately $173.6 million.

Heartland Advisors, an investment management firm, published its “Heartland Mid Cap Value Fund” second-quarter 2021 investor letter, in which it mentioned PPG Industries, Inc. and discussed its stance on the company. Here’s what they had to say:

“The portfolio’s holdings in the space outperformed the benchmark average and contained a top contributor, PPG Industries Inc. (PPG).

PPG is the second-largest coatings supplier in the world and boasts the top market share in the industrial space, including auto, aerospace, and general industrial. The company is second only to Sherwin-Williams in the architectural coatings market.

Shares of PPG sold off in early 2020 as global economies fell into recession. Given the company’s economically sensitive client base, earnings were hit by a broad-based decline in sales of coatings. While PPG’s stock rallied throughout the middle part of 2020 as fears about the economy subsided, it lagged sector peers throughout the winter because investors began to fear margin pressure fueled by rapidly rising input costs. This weakness presented us with an opportunity to sell a more capital-intensive portfolio holding that lacked pricing power and upgrade the portfolio with PPG, which we view as a higher-quality business.

At the time of our initial investment, we were confident that any margin pressure caused by rising input costs would be offset over time by PPG’s pricing power. Our view was validated when PPG reported growing profit margins in its first-quarter earnings release for 2021.

The company is also uniquely positioned to benefit from the shift toward electric vehicles (EVs). PPG has a robust portfolio of protective coatings for EVs. Given PPG’s supply chain scale, we anticipate the company will see a material increase in content penetration due to the ongoing market adoption of electric vehicles, which should drive organic sales growth going forward.”

4. Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

Barrett and Segal’s Stake Value: $14,763,000

Percentage of Jonathan Barrett and Paul Segal’s 13F Portfolio: 2.14%

Number of Hedge Fund Holders: 19

Sociedad Química y Minera de Chile S.A. (NYSE: SQM) is a Chilean chemical company and a supplier of plant nutrients, iodine, lithium, and industrial chemicals. It is the world’s biggest lithium producer. SQM’s natural resources and its main production facilities are located in the Atacama Desert between Chile’s I and II regions. Sociedad Química y Minera de Chile S.A. was founded in 1968 and is headquartered in Santiago, Chile.

Based on the latest 13F filings, Jonathan Barrett and Paul Segal’s Luminus Management holds about 312,000 shares of Sociedad Química y Minera de Chile S.A. worth $14.7 million as of the second quarter of 2021. These shares represent 2.14% of Luminus Management’s investment portfolio.

As of the fiscal second quarter of 2021, Sociedad Química y Minera de Chile S.A. reported an EPS of $0.31, missing estimates by -$0.01. The company also generated revenues up to $588 million, up 28.24% year-over-year, and beating estimates by 39.46 million. On top of this, the company’s share price has gained 2.87% over the past 6 months and 12.7% year to date.

By the end of the second quarter of 2021, 19 hedge funds out of the 873 tracked by Insider Monkey held stakes in Sociedad Química y Minera de Chile S.A. worth roughly $156.25 million. This is compared to 16 hedge funds in the previous quarter with a total stake value of approximately $142.4 million.

ClearBridge Investments, an investment management firm, published its “International Growth ADR Strategy” first quarter 2021 investor letter, in which the firm mentioned Sociedad Química y Minera de Chile S.A. and shared their stance on the company. Here’s what they had to say:

“Among materials names in our structural bucket, we sold SQM as the stock hit our price target. Lithium prices remain at levels well below previous highs and while we expect they may reach higher levels in the future; high pricing likely encourages additional supply onto the market.”

3. Air Products and Chemicals, Inc. (NYSE:APD)

Barrett and Segal’s Stake Value: $14,812,000

Percentage of Jonathan Barrett and Paul Segal’s 13F Portfolio: 2.15%

Number of Hedge Fund Holders: 40

Air Products and Chemicals, Inc. (NYSE: APD) provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, and argon among rare gases. It also designs and manufactures equipment for air separation, hydrocarbon recovery and purification, natural gas liquefaction, and liquid helium and liquid hydrogen transport and storage. Air Products and Chemicals, Inc. has a strategic collaboration with Baker Hughes Company to develop hydrogen compression systems. The company was founded in 1940 and is headquartered in Allentown, Pennsylvania.

This June, Societe Generale analyst Peter Clark raised his price target on Air Products and Chemicals, Inc. from $295 to $334 and reiterated a Buy rating on the shares.

Based on the latest 13F filings, Jonathan Barrett and Paul Segal’s Luminus Management holds over 51,000 shares of Air Products and Chemicals, Inc. worth $14.8 million as of the second quarter of 2021. These shares represent 2.15% of Luminus Management’s investment portfolio.

As of the fiscal third quarter of 2021, Air Products and Chemicals, Inc. reported earnings per share of $2.31 missing estimates by -$0.07. The company also generated revenues up to $2.6 billion, up 26.12% year-over-year, and beating estimates by $129.94 million.

By the end of the second quarter of 2021, 40 hedge funds out of the 873 tracked by Insider Monkey held stakes in Air Products and Chemicals, Inc. worth roughly $456.4 million. This is compared to 32 hedge funds in the previous quarter with a total stake value of approximately $586.8 million.

2. Tronox Holdings plc (NYSE:TROX)

Barrett and Segal’s Stake Value: $41,325,000

Percentage of Jonathan Barrett and Paul Segal’s 13F Portfolio: 6.01%

Number of Hedge Fund Holders: 36

Tronox Holdings plc (NYSE: TROX) operates as a vertically integrated manufacturer of TiO2 pigment in North America, South and Central America, Europe, the Middle East, Africa, and the Asia Pacific. Tronox Holdings plc (NYSE: TROX) company operates titanium-bearing mineral sand mines, and beneficiation and smelting operations. Its products include TiO2, zircon, and pig iron, as well as feedstock and other products comprising rutile prime, ilmenite, chloride slag, and other mining products. The company’s products are used for the manufacture of paints, coatings, plastics, and paper, as well as various other applications. Tronox Holdings plc (NYSE: TROX) is based in Stamford, Connecticut.

This September, JPMorgan analyst Jeffrey Zekauskas raised his price target on Tronox Holdings plc (NYSE: TROX) from $26 to $30 and reiterated an Overweight rating on the shares after Reuters reported that Apollo Management made an offer to buy Tronox for $27 per share. Tronox Holdings plc (NYSE: TROX) has neither confirmed nor denied receiving a bid from Apollo, Zekauskas told investors in a research note. He continues to rate Tronox Holdings plc (NYSE: TROX) shares Overweight due to the company’s high level of free cash flow generation, low valuation multiples, and tax characteristics.

Based on the latest 13F filings, Jonathan Barrett and Paul Segal’s Luminus Management holds over 1.84 million shares of Tronox Holdings plc (NYSE: TROX) worth $41.3 million as of the second quarter of 2021. These shares represent 6.01% of Luminus Management’s investment portfolio.

As of the fiscal second quarter of 2021, Tronox Holdings plc (NYSE: TROX) reported an EPS of $0.61, beating estimates by $0.11. The company also generated revenues of $927 million, up 60.38% year-over-year, and beating estimates by $5.88 million. On top of this, the share price for Tronox Holdings plc (NYSE: TROX) has gained 32.68% over the past 6 months, and 70.75% year to date.

By the end of the second quarter of 2021, 36 hedge funds out of the 873 tracked by Insider Monkey held stakes in Tronox Holdings plc (NYSE: TROX) worth roughly $353 million. This is compared to 36 hedge funds in the previous quarter with a total stake value of approximately $320 million.

1. Ashland Global Holdings Inc. (NYSE:ASH)

Barrett and Segal’s Stake Value: $42,841,000

Percentage of Jonathan Barrett and Paul Segal’s 13F Portfolio: 6.23%

Number of Hedge Fund Holders: 28

Ashland Global Holdings Inc. (NYSE: ASH) provides specialty chemical solutions worldwide. The company’s Specialty Ingredients segment offers products, technologies, and resources for solving formulation and product-performance challenges. It provides solutions using natural, synthetic, and semisynthetic polymers derived from cellulose ethers, vinylpyrrolidones, acrylic polymers, polyester, and polyurethane-based adhesives, and plant and seed extracts. Ashland Global Holdings Inc. was founded in 1924 and is based in Wilmington, Delaware.

This September, BMO Capital analyst John McNulty raised his price target on Ashland Global Holdings Inc. from $107 to $113 and reiterated an Outperform rating on the shares.

Based on the latest 13F filings, Jonathan Barrett and Paul Segal’s Luminus Management holds over 489,000 shares of Ashland Global Holdings Inc. worth $42.8 million as of the second quarter of 2021. These shares represent 6.23% of Luminus Management’s investment portfolio.

As of the fiscal third quarter of 2021, Ashland Global Holdings Inc. reported earnings per share of $0.91, missing estimates by -$0.29. The company also generated revenues that amounted to $637 million, up 10.98% year over year, and beat estimates by $1.61 million. The share price for Ashland Global Holdings Inc. has gained 1.22% over the past 6 months, and 14.06% year to date.

By the end of the second quarter of 2021, 28 hedge funds out of the 873 tracked by Insider Monkey held stakes in Ashland Global Holdings Inc. worth roughly $933.4 million. This is compared to 36 hedge funds in the previous quarter with a total stake value of approximately $1.19 billion.

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