DOW Unveils New Bimodal PE Resin for Microirrigation Market
Dow Inc. DOW recently introduced new Fingerprint DFDA-7555 NT, a bimodal Polyethylene (PE) resin for the microirrigation market. This product is an extension of its Fingerprint Polyethylene resin line and is manufactured using Unipol II process technology. The new Fingerprint grade supports the growing need for materials that can provide reliable, high-performing and sustainable microirrigation system that helps to boost water productivity, improve crop yields and conserve valuable resources.
Fingerprint DFDA-7555 NT can be used for microirrigation tape applications and profile extrusion applications as it provides improved performance and stronger tape for thin walls. This product also offers a significant sustainability impact, as it can downgauge and incorporate post-consumer resins (PCR) in its tape formulation. The product also provides a sustainable system as it has physical properties which enable the incorporation of materials with reduced properties, such as PCR, along with having great stiffness and longevity in the long term as well as short-term underground tape applications.
Dow remains focused on providing sustainable solutions to help its drip irrigation customers and growers create solutions to support their production, bottom line and sustainability efforts in the long term.
Shares of DOW have lost 19.7% over the past year compared with a 1.7% fall of its industry.
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The company, on its fourth-quarter call, said that it is seeing positive signs from moderate levels of inflation in the United States, improving energy outlook in Europe and the re-opening in China. It is also implementing targeted actions focused on optimizing labor and purchased service costs, lowering turnaround spending and boosting productivity. As part of these actions, Dow plans to cut around 2,000 jobs globally. It expects these initiatives to deliver $1 billion in cost savings in 2023. The company also expects to record a charge of $550-$725 million in the first quarter of 2023 for costs related to these actions.
Dow Inc. Price and Consensus
Dow Inc. price-consensus-chart | Dow Inc. Quote
Zacks Rank & Key Picks
Dow currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are ATI Inc. ATI, Olympic Steel, Inc. ZEUS and Cal-Maine Foods, Inc. CALM. ATI currently carries a Zacks Rank #2 (Buy), while ZEUS and CALM sport a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
ATI’s shares have gained 40.7% in the past year. The Zacks Consensus Estimate for ATI’s current-year earnings has been revised 1.4% upward in the past 60 days. The company has an earnings growth rate of 9% for the current year.
ATI topped Zacks Consensus Estimate in all the last four quarters. It delivered a trailing four-quarter earnings surprise of 32.4% on average.
Olympic Steel’s shares have gained 37% in the past year. The Zacks Consensus Estimate for its current-year earnings has been revised 61% upward in the past 60 days. ZEUS topped Zacks Consensus Estimate in all the last four quarters. It delivered a trailing four-quarter earnings surprise of 26.2% on average.
Cal-Maine’s shares have gained 10.6% in the past year. The company has an earnings growth rate of 515.8% for the current year. The Zacks Consensus Estimate for CALM’s current-year earnings has been revised 19% upward in the past 60 days.
CALM topped Zacks Consensus Estimate in three of the last four quarters. It delivered a trailing four-quarter earnings surprise of 15.3% on average.
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