In this article, we will be looking at the 5 best recycling stocks to invest in. If you want to read our detailed analysis of these companies, go directly to the 10 Best Recycling Stocks to Invest In.
5. Clean Harbors, Inc. (NYSE: CLH)
Number of Hedge Fund Holders: 27
Clean Harbors, Inc. (NYSE: CLH) is a provider of environmental and industrial services in North America. The company has two segments: Environmental Services and Safety-Kleen. It ranks 5th on our list of the best recycling stocks to invest in.
On June 19th, Clean Harbors, Inc. (NYSE: CLH) acquired about $140 million’s worth of assets from Vertex Energy related to used motor oil collection and re-refinery. This May, Baird also mentioned Clean Harbors, Inc. (NYSE: CLH) among the stocks that outperformed rivals in the waste management sector, and about this stock, in particular, the firm commented that the company is expected to see robust profitability in light of recent base oil pricing. The firm mentioned that the valuation of Clean Harbors, Inc. (NYSE: CLH) was also attractive and had potential beat-and-raises. In the first quarter of 2021, Clean Harbors, Inc. (NYSE: CLH) had an EPS of $0.42, beating estimates by $0.17. The company’s revenue was $808.15 million, beating estimates by $21.64 million, and it has a gross profit margin of 31.31%. The stock has gained 13.2% in the past 6 months and 24.09% year to date.
As of the end of the first quarter of 2021, 27 hedge fund holders out of the 866 tracked by Insider Monkey held stakes in Clean Harbors, Inc. (NYSE: CLH) worth roughly $383 million. This is compared to 22 hedge funds in the previous quarter, with a total stake value of $308 million.