Air Products and Chemicals to display its industrial solutions
In a press release on April 29, Air Products and Chemicals (APD) said that it would display its range of industrial gases, technologies, and equipment and technical services for the steel industry at the AISTech exhibition, which will be held in Pittsburgh from May 6-8.
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APD’s full range of Industrial Solutions include gases like oxygen, nitrogen, argon, hydrogen, and carbon dioxide. These products come in a variety of cost-effective supply options. The company caters to small users through its CryoEase, a solution alternative to cylinders. The company serves large users through its traditional bulk liquid and gas supply or on-site gas generation systems.
In this event, APD has invited steelmakers to discuss the challenges they face in their daily operations. APD has the technical know-how to address issues and can help steelmakers to reduce their fuel consumption and carbon footprint. The company can help to improve productivity, optimize gas efficiency, and reduce overall operating costs.
Stock price update
On April 29, the stock was up by 0.5% and closed at an all-time high of $203.57. On a year-to-date basis, the stock has gained 26.7%. Its peer Linde (LIN) has gained 13.3%. APD has outperformed the broader market representative, the S&P 500 (SPY), which has gained 18.4% during the same period. APD’s 14-day RSI of 81 indicates that the stock has moved into overbought territory and there could be a sell-off in the stock.
Investors can hold Air Products and Chemicals indirectly by investing in the Materials Select Sector SPDR ETF (XLB). XLB invests 6.7% of its portfolio in Air Products and Chemicals as of April 29. The fund also provides exposure to DowDuPont (DWDP) and Dow Inc (DOW) with weights of 12.75% and 6.15%, respectively.