Lens on 2 FTSE 100 Chemicals Stocks: Croda International and Johnson Matthey

May 26, 2021 03:43 PM BST | By Suhita Poddar
 Lens on 2 FTSE 100 Chemicals Stocks: Croda International and Johnson Matthey
Image source: totojang1977, Shutterstock

Summary

  • UK manufacturing output grew to its highest in April, driven by few important sectors, including chemicals.
  • Chemical’s giant Croda’s shares surged in trade today.

The UK chemicals sector has faced some volatility due to the ongoing public health crisis. However, the UK’s manufacturing output grew at its highest growth rate since  April 1994.

UK’s manufacturing PMI rose to 60.9 in April, from 58.9 in March and was primarily driven by chemicals, electronic engineering and metal sectors.

In this article, we take a deeper dive into why these 2 FTSE listed chemicals stocks were trending today:

  1. Croda International PLC (LON: CRDA)

UK based specialty chemicals giant Croda International is an FTSE 100 constituent and was the highest riser in the index, jumping over 2 per cent during trading.

Croda’s shares seem to have taken a cue from the investment bank Goldman Sachs’ changed ratings from sell to buy, thus giving it a double upgrade due to a positive outlook in its life science and consumer care business segments.

(Image Source: Refinitiv) 

CRDA’s shares were trading up by 2.72 per cent at GBX 7,024.00, while the FTSE 100 was trading at 7,010.53, down by 0.27 per cent on 26 May at 14:13 HRS GMT+1.

CRDA’s market cap is £9.540 billion, while its year-to-date return stood at 6.58 per cent. The company’s FY 2019 price to earnings (PE) ratio stood at 29.63x.

Also Read: Are These 5 Stocks Good for Growth - CRDA, BOOT, RST, VCT and ANX? 

  1. Johnson Matthey PLC (LON: JMAT) 

Another FTSE 100 listed firm Johnson Matthey is a multinational sustainable technology and specialty chemicals company. JMAT announced a memorandum of understanding with US-based green hydrogen solutions Plug Power Inc to develop next generation electrolyser technology as part of its net zero climate goals.

JMAT had recently announced its goals to achieve net zero emissions by 2040. The company had also launched a new Battery Technology Centre to develop new electric batteries.

(Image Source: Refinitiv) 

JAMT’s shares were trading down by 0.60 per cent at GBX 3,162.00, while the industrial chemical sectoral index was trading at 15,601.81, up by 1.19 per cent on 26 May at 14:21 HRS GMT+1.

JMAT’s market cap is £6.156 billion, while its year-to-date return stood at 30.35 per cent. The company’s PE ratio stood at 13.59x.

Also Read: Two AIM speciality chemicals stocks turned multibagger amid prevailing bear market: BYOT and SYM 


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Limited, Company No. 12643132 (Kalkine Media, we or us) and is available for personal and non-commercial use only. Kalkine Media is an appointed representative of Kalkine Limited, who is authorized and regulated by the FCA (FRN: 579414). The non-personalised advice given by Kalkine Media through its Content does not in any way endorse or recommend individuals, investment products or services suitable for your personal financial situation. You should discuss your portfolios and the risk tolerance level appropriate for your personal financial situation, with a qualified financial planner and/or adviser. No liability is accepted by Kalkine Media or Kalkine Limited and/or any of its employees/officers, for any investment loss, or any other loss or detriment experienced by you for any investment decision, whether consequent to, or in any way related to this Content, the provision of which is a regulated activity. Kalkine Media does not intend to exclude any liability which is not permitted to be excluded under applicable law or regulation. Some of the Content on this website may be sponsored/non-sponsored, as applicable. However, on the date of publication of any such Content, none of the employees and/or associates of Kalkine Media hold positions in any of the stocks covered by Kalkine Media through its Content. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music/video that may be used in the Content are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music or video used in the Content unless stated otherwise. The images/music/video that may be used in the Content are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.


Sponsored Articles


Investing Ideas

Previous Next