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Best Chemical Stocks to Buy Now (2024)
Top chemical stocks in 2024 ranked by overall Zen Score. See the best chemical stocks to buy now, according to analyst forecasts for the chemicals industry.

Industry: Chemicals
Ticker
Company
Zen Score
Valuation Score
Financials Score
Forecast Score
Performance Score
Dividends Score
WLKP
WESTLAKE CHEMICAL PARTNERS LP
52
57
57
33
30
80
REX
REX AMERICAN RESOURCES CORP
50
43
86
11
60
MEOH
METHANEX CORP
47
100
29
44
20
40
ORGN
ORIGIN MATERIALS INC
45
71
57
33
20
HUN
HUNTSMAN CORP
41
43
57
44
0
60

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Use Zen Score to quickly analyze stock fundamentals, even if you don't have a finance background. We run time-tested due diligence checks inspired by legendary investors like Warren Buffett, and score each company based on how many they pass/fail.

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Chemical Stocks FAQ

What are the best chemical stocks to buy right now in Mar 2024?

According to Zen Score, the 3 best chemical stocks to buy right now are:

1. Westlake Chemical Partners (NYSE:WLKP)


Westlake Chemical Partners (NYSE:WLKP) is the top chemical stock with a Zen Score of 52, which is 21 points higher than the chemical industry average of 31. It passed 18 out of 38 due diligence checks and has strong fundamentals. Westlake Chemical Partners has seen its stock return 1.05% over the past year, underperforming other chemical stocks by -17 percentage points.

2. Rex American Resources (NYSE:REX)


Rex American Resources (NYSE:REX) is the second best chemical stock with a Zen Score of 50, which is 19 points higher than the chemical industry average of 31. It passed 16 out of 33 due diligence checks and has strong fundamentals. Rex American Resources has seen its stock return 53.24% over the past year, overperforming other chemical stocks by 35 percentage points.

3. Methanex (NASDAQ:MEOH)


Methanex (NASDAQ:MEOH) is the third best chemical stock with a Zen Score of 47, which is 16 points higher than the chemical industry average of 31. It passed 17 out of 38 due diligence checks and has strong fundamentals. Methanex has seen its stock return 0.56% over the past year, underperforming other chemical stocks by -18 percentage points.

Methanex has an average 1 year price target of $53.00, an upside of 17.75% from Methanex's current stock price of $45.01.

Methanex stock has a consensus Buy recommendation according to Wall Street analysts. Of the 5 analysts covering Methanex, 40% have issued a Strong Buy rating, 20% have issued a Buy, 40% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

What are the chemical stocks with highest dividends?

Out of 8 chemical stocks that have issued dividends in the past year, the 3 chemical stocks with the highest dividend yields are:

1. Westlake Chemical Partners (NYSE:WLKP)


Westlake Chemical Partners (NYSE:WLKP) has an annual dividend yield of 8.48%, which is 5 percentage points higher than the chemical industry average of 3.1%. Westlake Chemical Partners's dividend payout is stable, having never dropped by more than 10% in the last 10 years. Westlake Chemical Partners's dividend has shown consistent growth over the last 10 years.

Westlake Chemical Partners's dividend payout ratio of 122.5% indicates that its high dividend yield might not be sustainable for the long-term.

2. Huntsman (NYSE:HUN)


Huntsman (NYSE:HUN) has an annual dividend yield of 3.72%, which is 1 percentage points higher than the chemical industry average of 3.1%. Huntsman's dividend payout is stable, having never dropped by more than 10% in the last 10 years. Huntsman's dividend has shown consistent growth over the last 10 years.

Huntsman's dividend payout ratio of 166.7% indicates that its dividend yield might not be sustainable for the long-term.

3. Tronox Holdings (NYSE:TROX)


Tronox Holdings (NYSE:TROX) has an annual dividend yield of 2.82%, which is the same as the chemical industry average of 3.1%. Tronox Holdings's dividend payout is not stable, having dropped more than 10% one times in the last 10 years. Tronox Holdings's dividend has not shown consistent growth over the last 10 years.

Tronox Holdings's dividend payout ratio of -24.8% indicates that its dividend yield might not be sustainable for the long-term.

Why are chemical stocks up?

Chemical stocks were up 2.14% in the last day, and up 1.33% over the last week.

We couldn't find a catalyst for why chemical stocks are up.

What are the most undervalued chemical stocks?

Based on WallStreetZen's Valuation Score, the 3 most undervalued chemical stocks right now are:

1. Methanex (NASDAQ:MEOH)


Methanex (NASDAQ:MEOH) is the most undervalued chemical stock based on WallStreetZen's Valuation Score. Methanex has a valuation score of 100, which is 66 points higher than the chemical industry average of 34. It passed 7 out of 7 valuation due diligence checks.

Methanex's stock has gained 0.56% in the past year. It has underperformed other stocks in the chemical industry by -18 percentage points.

2. Origin Materials (NASDAQ:ORGN)


Origin Materials (NASDAQ:ORGN) is the second most undervalued chemical stock based on WallStreetZen's Valuation Score. Origin Materials has a valuation score of 71, which is 37 points higher than the chemical industry average of 34. It passed 5 out of 7 valuation due diligence checks.

Origin Materials's stock has dropped -86.84% in the past year. It has underperformed other stocks in the chemical industry by -105 percentage points.

3. Westlake Chemical Partners (NYSE:WLKP)


Westlake Chemical Partners (NYSE:WLKP) is the third most undervalued chemical stock based on WallStreetZen's Valuation Score. Westlake Chemical Partners has a valuation score of 57, which is 23 points higher than the chemical industry average of 34. It passed 4 out of 7 valuation due diligence checks.

Westlake Chemical Partners's stock has gained 1.05% in the past year. It has underperformed other stocks in the chemical industry by -17 percentage points.

Are chemical stocks a good buy now?

60% of chemical stocks rated by analysts are a buy right now. On average, analysts expect chemical stocks to rise by 5.95% over the next year.

What is the average p/e ratio of the chemicals industry?

The average P/E ratio of the chemicals industry is 38.1x.
WallStreetZen does not provide financial advice and does not issue recommendations or offers to buy stock or sell any security.

Information is provided 'as-is' and solely for informational purposes and is not advice. WallStreetZen does not bear any responsibility for any losses or damage that may occur as a result of reliance on this data.