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4 Manufacturing Stocks to Buy on the Dip -Breaking

by Mike Robinson

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© Reuters. Four Manufacturing Stocks You Should Buy On The Dip

Manufacturing activity is expected to grow with the continuation of progress on the vaccine front as well as the reopening the economy. It would make sense to purchase the dips in the fundamentally sound stocks of manufacturing: Hillenbrand (NYSE ), Timken Company, Timken Company (NYSE ), Johnson Electric (JEHLY), Vishay Precision Group (NYSE ). Let’s discuss these names.Even though the economy is gradually recovering, high material prices and supply chain issues continue to impact the manufacturing industry. Trading Economics reports that IHS Markit US Manufacturing PMI climbed to 59.2 in Oct 2021 from 60.7 in Sept 2021.

Rapid vaccinations, however, are helping manufacturing companies return to full operating capacity. Ryan Sweet, a senior economist at Moody’s (NYSE:) Corporation’s (MCO) Moody’s Analytics, said, “Factory orders continue to climb, a good sign for manufacturing.”

We believe it would be smart to buy quality manufacturing stocks The Timken Company, Hillenbrand, Inc., Johnson Electric Holdings Limited, (JEHLY), Vishay Precision Group, Inc., (VPG). These stocks currently trade below 52-week lows, however they still have substantial upside potential.

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