Bluemountain Capital Management Lowers stake in Air Products & Chemicals (APD)

Air Products & Chemicals (APD) : Bluemountain Capital Management reduced its stake in Air Products & Chemicals by 4.75% during the most recent quarter end. The investment management company now holds a total of 643,086 shares of Air Products & Chemicals which is valued at $91.2 Million after selling 32,100 shares in Air Products & Chemicals , the firm said in a disclosure report filed with the SEC on May 13, 2016.Air Products & Chemicals makes up approximately 3.42% of Bluemountain Capital Management’s portfolio.

Other Hedge Funds, Including , Dimensional Fund Advisors Lp boosted its stake in APD in the latest quarter, The investment management firm added 36,025 additional shares and now holds a total of 418,467 shares of Air Products & Chemicals which is valued at $59.4 Million. Air Products & Chemicals makes up approx 0.04% of Dimensional Fund Advisors Lp’s portfolio.

Air Products & Chemicals opened for trading at $143.84 and hit $144.78 on the upside on Wednesday, eventually ending the session at $143.68, with a gain of 0.27% or 0.38 points. The heightened volatility saw the trading volume jump to 6,70,805 shares. Company has a market cap of $31,047 M.

On the company’s financial health, Air Products & Chemicals reported $1.82 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $1.81. The company had revenue of $2271.00 million for the quarter, compared to analysts expectations of $2366.13 million. The company’s revenue was down -5.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.55 EPS.

Investors should note that on May 19, 2016, Air Products & Chemicals announced a cash dividend of $0.8600. The company’s management has announced Jun 29, 2016 as the ex-dividend date and fixed the record date on Jul 1, 2016. The payable date has been fixed on Aug 8, 2016.

Many Wall Street Analysts have commented on Air Products & Chemicals. Company shares were Reiterated by Barclays on May 2, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 162 from a previous price target of $147 .Company shares were Downgraded by Deutsche Bank on Apr 4, 2016 to ” Hold”, Firm has raised the Price Target to $ 152 from a previous price target of $150 .Company shares were Resumed by Credit Suisse on Mar 24, 2016 to “Outperform”, Firm has raised the Price Target to $ 161 from a previous price target of $145 .

Air Products and Chemicals Inc. is an industrial gases company which offers atmospheric gases process and specialty gases electronics and performance materials equipment and services. The Company’s segments include Industrial Gases–Americas; Industrial Gases – EMEA (Europe Middle East and Africa); Industrial Gases–Asia; Industrial Gases–Global; Materials Technologies; Energy-from-Waste and Corporate and other. The Company manufactures and distributes products in two lines of business: Industrial Gases and Materials Technologies. Industrial Gases’ primary products include atmospheric gases process gases and equipment for air separation. Materials Technologies’ primary products include performance materials and chemicals such as epoxy amine curing agents polyurethane catalysts additives and specialty surfactants and electronics materials such as specialty gases chemical mechanical planarization slurries and specialty chemicals.

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