Back to top

Image: Bigstock

DOW Boosts Automotive Partnerships in Europe With New Studio

Read MoreHide Full Article

Dow Inc. (DOW - Free Report) has announced an increased investment in MobilityScience capabilities by opening its first European MobilityScience Studio in Correggio, Italy, demonstrating its long-term commitment to the mobility sector as it transforms and grows.

Dow's new studio will allow it to further collaborate with Tiers and OEMs, expanding its existing novel solutions. In broadening its presence in Italy, the studio will assist Dow's R&D and Technical Services & Development engineers in concentrating on new sustainable solutions in the mobility market and elsewhere, paving the path for new ecosystem collaborations in Europe.

This investment in Correggio, Italy, will act as a hub for Dow's technical and commercial expertise to engage with the European mobility industry and drive forward the essential investments to secure global success in the rapidly growing EV market.

The Correggio studio will be the third of Dow's cutting-edge MobilityScience facilities. The current MobilityScience Studios in Midland, MI and Lake Jackson, TX, provide collaborative workplaces for acoustic and powertrain testing capabilities for fast-moving automotive applications. Dow's studios enable the creation of custom noise, vibration and harshness and sealing, powertrain and fluid transfer system solutions to meet any demand. Dow leverages its 100+ years of transportation knowledge and application development ability to provide innovative, cutting-edge solutions that keep the world moving.

Shares of DOW have gained 2.7% over the past year against a 7.2% decline of its industry.

Zacks Investment Research
Image Source: Zacks Investment Research

On the fourth-quarter call, Dow said that it will maintain its commitment to financial and operational discipline as it navigates dynamic market conditions in 2024. The company envisions the weakness in industrial and durable goods demand to continue in the first quarter of 2024.

However, Dow sees early positive signs in areas such as construction, automotive and consumer electronics. DOW also remains committed to its disciplined and balanced capital allocation priorities. Moreover, the company is advancing its Decarbonize and Grow and Transform the Waste strategies, which are expected to deliver more than $3 billion in underlying earnings annually by 2030.

Dow Inc. Price and Consensus

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).

Better-ranked stocks in the basic materials space include Denison Mines Corp. (DNN - Free Report) , Carpenter Technology Corporation (CRS - Free Report) and Ecolab Inc. (ECL - Free Report) .

Denison Mines sports a Zacks Rank #1 (Strong Buy). DNN beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 300%. The company’s shares have soared 112.6% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.

Carpenter Technology currently carries a Zacks Rank #2 (Buy). CRS beat the Zacks Consensus Estimate in three of the last four quarters while matching it once, with the average earnings surprise being 12.2%. The company’s shares have soared 80.8%% in the past year.

The Zacks Consensus Estimate for Ecolab current-year earnings is pegged at $6.43 per share, indicating a year-over-year rise of 23.4%. ECL, a Zacks Rank #1 stock, beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 1.7%. The company’s shares have rallied roughly 34.4% in the past year.

Published in