Wall Street is a fickle place that far too often gets caught up in short-term stories. That appears to be the case these days with Clorox (NYSE: CLX) and Stanley Black & Decker (NYSE: SWK) . The two iconic companies face material headwinds. However, Wall Street treats them as if their businesses fundamentally changed for the worse, which just doesn't seem to be the case. That makes now a potentially good time to add these two stocks to a long-term portfolio.
Consumer staples manufacturer Clorox was a huge beneficiary when consumers upped their cleaning efforts early in the coronavirus pandemic. That led the company to boost production by contracting outside manufacturing companies. Demand eventually cooled, and the company was left with high-priced manufacturing contracts just as it was selling fewer products. This temporarily elevated costs and the market reacted by selling the stock. Clorox stock is off around 41% from its mid-2020 peak.
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2 Dividend Stocks to Double Up On Right Now