Here’s Aristotle Capital’s Value Equity Strategy’s Investment Thesis for Air Products and Chemicals (APD)

Soumya Eswaran

Tue, Apr 15, 2025, 4:42 AM 3 min read

Aristotle Capital Management, LLC, an investment management company, released its “Value Equity Strategy” first quarter 2025 investor letter. A copy of the letter can be downloaded here. The U.S. equity market started the year with a modest decline, with the S&P 500 Index declining 4.27% during the quarter. Conversely, the Bloomberg U.S. Aggregate Bond Index rose 2.78% during the same period. The composite returned 0.78% gross of fees (0.73% net of fees) in the first quarter underperforming the 2.14% return of the Russell 1000 Value Index and outperforming -4.27% return of the S&P 500 Index. In addition, you can check the fund’s top 5 holdings to determine its best picks for 2025.

In its first quarter 2025 investor letter, Aristotle Value Equity Strategy emphasized stocks such as Air Products and Chemicals, Inc. (NYSE:APD). Headquartered in Allentown, Pennsylvania, Air Products and Chemicals, Inc. (NYSE:APD) provides atmospheric gases, process and specialty gases, equipment, and related services. The one-month return of Air Products and Chemicals, Inc. (NYSE:APD) was -6.59%, and its shares gained 19.68% of their value over the last 52 weeks. On April 14, 2025, Air Products and Chemicals, Inc. (NYSE:APD) stock closed at $272.58 per share with a market capitalization of $60.643 billion.

Aristotle Value Equity Strategy stated the following regarding Air Products and Chemicals, Inc. (NYSE:APD) in its Q1 2025 investor letter:

"Founded in 1940 and with headquarters in Pennsylvania, Air Products and Chemicals, Inc. (NYSE:APD) and Chemicals is a leading global supplier of industrial gases, including oxygen, nitrogen, helium, hydrogen and others. These essential gases serve critical roles across a wide range of industries, such as refining, chemicals, metals, electronics, manufacturing, healthcare, and food manufacturing and packaging. Air Products is the leading global supplier of hydrogen, with a robust distribution network across North America.