Loews Corporation is a stock investor should be watching even if analysts aren’t, CNBC’s Jim Cramer said Wednesday.
“Loews Corporation may not get any love from the analyst community, but I think it’s a hidden gem that should work perfectly in an increasingly tough market,” the “Mad Money” host said.
“The fact that it’s managed to fly under the radar simply means that you’re getting a chance to buy it for less than it should be worth,” he said.
Loews stock rose 0.09% on Wednesday to $63.36, still below its 52-week high of $66.00.
Cramer highlighted the corporation’s four subsidiaries and what he likes about each one.
- CNA Financial:“CNA Financial is the foundation of Loews — it’s like a cash machine that constantly throws off money,” he said.
- Boardwalk Pipelines: Cramer said that the U.S’ shortage of natural gas pipelines, along with the location of Boardwalk’s pipelines, which are around the Gulf Coast, are huge pluses for Loews.
- Loews Hotels: “This business has had a tough time over the past two years — they’ve been in bear market — but I think that’s going to change. … People have been cooped up for too long. They want to take real vacations again,” Cramer said.
- Altium Packaging: “I think they’ve got a solid long-term story. … I bet it’s got a bright future,” he said.
Cramer also said that Loews’ actions make it clear the company believes that its stock is undervalued, which makes it an even more attractive buy.
Loews bought back 21.1 million shares of the company’s common stock in 2021 totaling $1.1 billion, according to its letter to shareholders for that same year.