Shares of Air Products and Chemicals (NYSE: APD) have been a great inflation hedge over the last year. Prices for everything from energy to manufacturing materials have soared, but Air Products has been able to offset higher input costs and keep profitability rising steadily. Since the start of 2022, the stock is down just 5% (when accounting for dividend payments), compared to a negative 15% return for the S&P 500 and negative 26% for the Nasdaq Composite.  

This top supplier to the manufacturing sector (including the semiconductor industry) and developer of natural gas, hydrogen, and renewable energy projects is now down 10% from all-time highs reached late in 2022. Is this dividend stock a buy now?

After a decade of under-investment in infrastructure, the world is suddenly aware of the need to pour some money into hard assets that support energy and industrial production. Companies like Air Products that supply equipment and sell industrial gases are benefiting from this renewed interest in the physical economy. 

Continue reading

Source Fool.com