5 Best Specialty Chemical Stocks To Buy Now

2. Ecolab Inc. (NYSE:ECL)

Number of Hedge Fund Holders: 56

Ecolab Inc. (NYSE:ECL) provides water, hygiene, and infection prevention solutions and services globally. It functions through three segments – Global Industrial, Global Institutional & Specialty, and Global Healthcare & Life Sciences. Ecolab Inc. (NYSE:ECL) markets its products through field sales, corporate account personnel, distributors, and dealers. It is one of the best chemical stocks. Established in 1923, the company is headquartered in Saint Paul, Minnesota.

On August 3, Ecolab Inc. (NYSE:ECL) declared a $0.53 per share quarterly dividend, in-line with previous. It is to be paid on October 16 to shareholders of record as of September 19.

According to Insider Monkey’s second quarter database, 56 hedge funds were bullish on Ecolab Inc. (NYSE:ECL), up from 53 funds in the last quarter. Bill & Melinda Gates Foundation Trust held the largest position in the company, with 5.22 million shares worth $974.16 million.

Madison Sustainable Equity Fund made the following comment about Ecolab Inc. (NYSE:ECL) in its second quarter 2023 investor letter:

“Ecolab Inc. (NYSE:ECL) is benefiting from price increases put in place last year to offset inflationary pressures. The price increases more than offset flattish volumes and are modestly ahead of raw material inflation resulting in a return to earnings growth. We believe that Ecolab’s profitability will improve going forward from market share gains and its fast-growing bioprocessing business.”