5 Best Materials Stocks to Buy After Fed’s Latest Rate Hike

4. Air Products & Chemicals, Inc. (NYSE:APD)

Number of Hedge Fund Holders: 33

Air Products & Chemicals, Inc. (NYSE:APD) is an industrial gases company providing atmospheric gases, process and specialty gases, equipment, and services. The company is based in Allentown, Pennsylvania.

On August 15, Air Products & Chemicals, Inc. (NYSE:APD) was upgraded from Market Perform to Outperform at BMO Capital by analyst John McNulty. The analyst also raised his price target on the stock from $283 to $321.

Over the next three to five years, the EPS for Air Products & Chemicals, Inc. (NYSE:APD) is expected to rise by 11.54%. The company’s revenue growth rate year over year stands at 22.11%. It also has a dividend yield of 2.79%.

There were 33 hedge funds long Air Products & Chemicals, Inc. (NYSE:APD) in the second quarter, and 39 hedge funds long the stock in the previous quarter. Their total stake values were $375 million and $858 million, respectively.

Matrix Asset Advisors, an asset management company, mentioned Air Products & Chemicals, Inc. (NYSE:APD) in its second quarter 2022 investor letter. Here’s what the firm said:

“Air Products And Chemicals, Inc. (NYSE:APD) is a leading global industrial gas company with very stable returns. The company provides industrial gas in bulk liquid and compressed gas forms as well as via “on-site” dedicated facilities. Because many of its contacts are long-term take or pay agreements, the business is less cyclical than many industrial companies while benefiting during economic upswings. Air Products is a leader in hydrogen fueling systems and infrastructure, and the company sees great potential in the years ahead to extend its leadership. APD is a consistent dividend grower. Its current annual dividend of $6.48 provides a 2.7% yield on June 30.”