Matrix Asset Advisors: “Air Products and Chemicals (APD) is a Consistent Dividend Grower”

Matrix Asset Advisors, an asset management company, released its second quarter 2022 investor letter. A copy of the same can be downloaded here. In the second quarter, most areas of the market were down. Value and dividend strategies were protective compared to the worst-performing growth sector. The Large Cap Value Portfolio of the fund outperformed its benchmark, the S&P 500, in the second quarter but trailed the Russell 1000 Value Index. Its Matrix Dividend Income portfolio meaningfully outperformed the S&P 500 and the Russell 1000 Value Index benchmarks in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Matrix Asset Advisors Investors discussed stocks like Air Products and Chemicals, Inc. (NYSE:APD) in the second quarter investor letter. Air Products and Chemicals, Inc. (NYSE:APD), headquartered in Allentown, Pennsylvania, is a supplier of gases and chemicals for industrial uses. On September 16, 2022, Air Products And Chemicals, Inc. (NYSE:APD) stock closed at $247.36 per share. One-month return of Air Products And Chemicals, Inc. (NYSE:APD) was -5.19% and its shares lost 4.19% of their value over the last 52 weeks. Air Products And Chemicals, Inc. (NYSE:APD) has a market capitalization of $54.864 billion.

Here is what Matrix Asset Advisors specifically said about Air Products And Chemicals, Inc. (NYSE:APD) in its Q2 2022 investor letter:

“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.”

Air Products And Chemicals, Inc. (NYSE:APD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 33 hedge fund portfolios held Air Products and Chemicals, Inc. (NYSE:APD) at the end of the first quarter which was 39 in the previous quarter.

We discussed Air Products and Chemicals, Inc. (NYSE:APD) in another article and shared ClearBridge Investments’ views on the company. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.

Disclosure: None. This article is originally published at Insider Monkey.