5 Best Rubber and Plastics Stocks To Buy

3. Carlisle Companies Incorporated (NYSE:CSL)

Number of Hedge Fund Holders: 36

Carlisle Companies Incorporated (NYSE:CSL) manufactures engineered products, with its operations divided into four segments – Carlisle Construction Materials, Carlisle Weatherproofing Technologies, Carlisle Interconnect Technologies, and Carlisle Fluid Technologies. Its products include thermoplastic polyolefin, block-molded expanded polystyrene insulation, protective roofing underlayments, and premium rubber, to name a few. Carlisle Companies Incorporated (NYSE:CSL) is one of the best rubber and plastics stocks to watch. On June 15, the company announced that it will sell Carlisle Fluid Technologies to an affiliate of Lone Star Funds for $520 million. The deal is expected to close in the third quarter of 2023.

According to Insider Monkey’s first quarter database, 36 hedge funds were bullish on Carlisle Companies Incorporated (NYSE:CSL), compared to 41 funds in the preceding quarter. David Blood and Al Gore’s Generation Investment Management is the biggest stakeholder of the company, with 1.06 million shares worth $240.8 million. 

Ave Maria Rising Dividend Fund made the following comment about Carlisle Companies Incorporated (NYSE:CSL) in its Q1 2023 investor letter:

“A total of five positions were eliminated from the Fund during the quarter due to valuation, a small spin-off from a parent company, and a pending acquisition target. The Fund added one new position, Carlisle Companies Incorporated (NYSE:CSL) (building materials), during the quarter. The company possesses a strong balance sheet, operates with competitive advantages, and consistently produces above-average cash flow and dividend growth. The position was initiated when the stock dipped below our estimation of what the company is worth.”