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Airgas, Inc. (NYSE: ) shares are trading even in the pre-market despite positive comments by CNBC's Jim Cramer on his Mad Money program. The hedge fund manager turned television star called the stock a levered oil and natural gas play, which makes it a winner in today's pricing environment. Cramer also noted that the stock was non-cyclical and perhaps one of the best players in the sector.

Airgas is a distributor of industrial, medical and specialty gases and welding and safety equipment. It produces nitrous oxide, dry ice, and liquid carbon dioxide in the United States while also distributing process chemicals refrigerants and ammonia products. Many of these gases and chemicals are used in the oil and gas industry in order to extract oil from the ground, which makes this stock an attractive play in the eyes of many.

Airgas shares surged earlier this year after it announced spectacular earnings boosted by strenth in key areas, which balanced out weakness attributed to the economic slowdown in the United States. Airgas' revenues grew 27% to $1.1 billion, but acquisitions contributed some 19% to that growth with the remaining 8% still seen as solid given the slowdown. The company also managed to grow its operating margin by 120 basis points, which was seen as very bullish.

Energy, infrastructure construction and export markets were the biggest cash cows for Airgas in the fourth quarter in a trend that is only likely to continue. The company is also using the time to make some key acquisitions and grow itself to compete with its two larger rivals. Recently, Airgas acquired a carbon dioxide plant in Georgia along with Oilind Safety and Refron in just the last few months.

In the end, Airgas is in the right industry according to Jim Cramer and many other analysts. The company's products are needed in order to pull oil out of the ground while its acquisitions should help it grow substantially. Shares of Airgas were even in pre-market trading today.

 

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