5 Best Material Stocks To Buy Now

In this article, we discuss the 5 best material stocks to buy now. If you want to read our detailed analysis of these companies, go directly to the 10 Best Material Stocks to Buy Now.

5. Air Products and Chemicals, Inc. (NYSE:APD)

Number of Hedge Fund Holders: 40

Air Products and Chemicals, Inc. (NYSE:APD) sells industrial gases and chemicals to the manufacturing, metals, and electronics industries. The Pennsylvania-based company markets its industrial products globally in its over 750 facilities. 

Earlier in November, the gas and chemical company announced a $15 billion agreement with the Indonesian government to build a coal gasification industry in the country. The material stock gained 10.4% year to date.

The material company’s revenue in the fiscal fourth quarter came in at $2.84 billion, beating estimates by $171 million. Aside from the 22% revenue growth from last year, Air Products and Chemicals, Inc. (NYSE:APD) is also a good dividend option for income investors. The company pays an annual dividend of $6 per share and a dividend yield of 2%. 

Among the hedge funds being tracked by Insider Monkey, Boston-based investment firm Adage Capital Management is a leading shareholder in Air Products and Chemicals, Inc. (NYSE:APD) with 351,940 shares worth more than $90 million at the end of the September quarter. 

Meanwhile, on November 5, Deutsche Bank analyst David Begleiter maintained a Buy rating on Air Products and Chemicals, Inc. (NYSE:APD), citing the company’s cautious 2022 earnings forecast. Begleiter increased his price target for the stock to $340 from $315.