5 Best Specialty Chemical Stocks To Buy Now

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

Number of Hedge Fund Holders: 43

Air Products and Chemicals, Inc. (NYSE:APD) supplies atmospheric gasses, process and specialty gasses, along with equipment and associated services across the Americas, Asia, Europe, the Middle East, India, and other regions. The company was established in 1940 and is headquartered in Allentown, Pennsylvania. Air Products and Chemicals, Inc. (NYSE:APD) ranks high on our list of the best specialty chemical stocks.

On August 3, Air Products and Chemicals, Inc. (NYSE:APD) announced third quarter results for fiscal year 2023. The company reported a non-GAAP EPS of $2.98, outperforming market consensus by $0.07, while its revenue came in at $3.03 billion, missing estimates by $254.21 million.

According to Insider Monkey’s second quarter database, 43 hedge funds were bullish on Air Products and Chemicals, Inc. (NYSE:APD), compared to 48 funds in the prior quarter. Dmitry Balyasny’s Balyasny Asset Management is the leading stakeholder of the company, with 272,134 shares worth $81.5 million.

ClearBridge Large Cap Value Strategy made the following comment about Air Products and Chemicals, Inc. (NYSE:APD) in its Q4 2022 investor letter:

“In the materials sector, Air Products and Chemicals, Inc. (NYSE:APD)’s ability to recover higher energy costs, particularly in Europe as it continues to execute on its growth projects, has helped it to generate a positive return for the year and made it a strong contributor. The capital APD is deploying into hydrogen products globally is finally getting noticed as Europe is looking to diversify away from Russian natural gas and the Inflation Reduction Act (IRA) benefits domestic investments in renewables, such as APD’s $4.5 billion blue hydrogen project in Louisiana and its $4 billion green hydrogen production facility in Texas. APD is also teaming up with World Energy to build a $2.5 billion sustainable aviation fuel production facility in Southern California, a project that should also benefit from the IRA.”