Matrix Asset Advisors, an asset management company, released its third-quarter 2022 investor letter. A copy of the same can be downloaded here. The fund’s Large Cap Value Portfolio trailed the S&P 500 and the Russell 1000 Value index performance in the third quarter and year-to-date through September 30, 2022. Its Matrix Dividend Income portfolio outperformed the S&P 500 and the Russell 1000 Value Index benchmarks for the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Matrix Asset Advisors highlighted stocks like Air Products and Chemicals, Inc. (NYSE:APD) in the Q3 2022 investor letter. Headquartered in Allentown, Pennsylvania, Air Products and Chemicals, Inc. (NYSE:APD) is a chemical company that provides atmospheric gases and related services. On December 8, 2022, Air Products and Chemicals, Inc. (NYSE:APD) stock closed at $319.86 per share. One-month return of Air Products and Chemicals, Inc. (NYSE:APD) was 10.89%, and its shares gained 8.30% of their value over the last 52 weeks. Air Products and Chemicals, Inc. (NYSE:APD) has a market capitalization of $70.966 billion.
Matrix Asset Advisors made the following comment about Air Products and Chemicals, Inc. (NYSE:APD) in its Q3 2022 investor letter:
“During the quarter, we started a new position in Air Products and Chemicals, Inc. (NYSE:APD) for accounts with cash to invest. Air Products & Chemicals 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 onsite dedicated facilities. Because many of its contracts are long-term, 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 to extend its leadership in the years ahead. APD consistently returns capital to its shareholders through share repurchases and by steadily increasing its dividend. Its current annual dividend of $6.48 per share provides a 2.8% yield on September 30.”
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Air Products and Chemicals, Inc. (NYSE:APD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 43 hedge fund portfolios held Air Products and Chemicals, Inc. (NYSE:APD) at the end of the third quarter, which was 33 in the previous quarter.
We discussed Air Products and Chemicals, Inc. (NYSE:APD) in another article and shared the best halal dividend stocks to buy. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
