2024-04-16 17:26:17 ET
Summary
- Air Products and Chemicals, Inc. is undervalued, with a dividend yield way above its historical average and a P/E ratio far below.
- The market’s concern over its high CAPEX is overblown.
- Many of its expansion projects are joint ventures with government entities, which helps with both funding and regulatory issues.
- The discounted valuation, when combined with its leading role in a stable sector with long-term contracts, offers a very asymmetrical return/risk profile.
APD is undervalued
We have been accumulating shares of Air Products and Chemicals, Inc. ( APD ) over the past few days with an average cost basis of ~$230. The goal of this article is to explain our thought process and why we see a very asymmetrical reward/risk profile in the next 2~3 years....
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For further details see:
Air Products And Chemicals: Why We Bought Around $230