The Federal Reserve increased interest rates for the third time in a row on September 21, 2022. The increase amounted to a three-quarters of a percentage point increase. The benchmark overnight interest rate set by the central bank increased by this precise increment to 3% to 3.25%. Following the Federal Reserve’s most recent policy decision, the market identified sector performance winners and losers. The materials industry increased 1.7%, while the healthcare sector lagged behind, declining 0.5%. The Nasdaq Composite increased by 0.8%, the S&P 500 Index increased by 0.7%, and the Dow Jones increased by 0.6%. For income investors wanting to protect themselves against inflation, materials firms have been doing well as dependable dividend equities. As of August 31, 2022, S&P mid-cap and small-cap materials businesses were reported to have a dividend yield of 2.1%.
Insider Monkey highlights the 10 materials stocks to buy after the Fed’s new policy. A worldwide resource firm called BHP Group operates in Australia, Europe, China, Japan, India, South Korea, the rest of Asia, North America, South America, and other countries. The company’s dividend yield is 13.34%, and its one-year dividend growth rate is 7.97%. Aluminum, copper, diamonds, gold, borate, iron ore, and other minerals are all provided by Rio Tinto Group. In addition, it owns and runs mills, refineries, smelters, power plants, open pit and underground mines, as well as research and service facilities. A diversified metals and mining firm called MP Materials Corp. owns and operates rare earth mining and processing facilities. In comparison to the $27.2 million number in the same quarter last year, the company’s net income for the second quarter nearly tripled to $73.3 million, or $0.38 per share. On September 22, Curt Woodworth of Credit Suisse maintained an Outperform rating on shares of Cleveland-Cliffs Inc. The business sells carbon steel products that have been electro-galvanized, hot-dip galvanized, and aluminized, as well as hot-rolled, cold-rolled, and galvanized steel. Carlos De Alba, a Morgan Stanley analyst, restated his Equal Weight recommendation on shares of Steel Dynamics, Inc. on July 6. Through its sectors for Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations, the company conducts business. For more details, click the 10 Materials Stocks To Buy After The Fed’s New Policy.