BASF SE’s BASFY Coatings Division’s Surface Treatment global business unit, Chemetall, has switched its electricity supply to 100% renewable electricity in Blackman Township production site in Jackson County, MI. BASF Renewable Energy will provide the same by generating it from renewable resources, including solar and wind energy. This is expected to reduce 950 tons of CO2 emissions in 2025.
This move shows Chemetall’s commitment to sustainability by using renewable electricity sources in its 16 production facilities worldwide. Chemetall will cover roughly 2,500 MWh requirement in Blackman Township through Virtual Power Purchase Agreements with BASF Renewable Energy.
The unit will annually review its green electricity agreement with BASF Renewable Energy. This effort will not just enhance the sustainability of operations but also help its customers achieve their specific sustainability goals.
BASFY stock has gained 4.4% in the past year compared with the 0.1% rise of the industry.
Image Source: Zacks Investment Research
BASFY’s Zacks Rank and Key Picks
BASFY currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the Basic Materials space are Ingevity Corporation NGVT, Carpenter Technology Corporation CRS and Methanex Corp. MEOH. While NGVT sports a Zacks Rank #1 (Strong Buy), CRS and MEOH carry a Zacks Rank #2 (Buy) each at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Ingevity’s current-year earnings is pegged at $2.75 per share. NGVT beat the Zacks Consensus Estimate in three of the trailing four quarters and missed once, with the average earnings surprise being 95.4%.
The Zacks Consensus Estimate for Carpenter Technology’s current fiscal-year earnings is pegged at $6.83 per share. CRS beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average earnings surprise being 15.7%. Its shares have soared 192.5% in the past year.
The Zacks Consensus Estimate for Methanex’s current-year earnings is pegged at $4.2 per share. MEOH surpassed the Zacks Consensus Estimate in each of the trailing four quarters, with an average earnings surprise of 85.2%. The stock has gained 3.7% in the past year.
Zacks' Research Chief Names "Stock Most Likely to Double"
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
BASF SE (BASFY) : Free Stock Analysis Report
Carpenter Technology Corporation (CRS) : Free Stock Analysis Report
Methanex Corporation (MEOH) : Free Stock Analysis Report
Ingevity Corporation (NGVT) : Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
