Viking Global Investors Lp Lowers stake in Air Products & Chemicals (APD)

Air Products & Chemicals (APD) : Viking Global Investors Lp reduced its stake in Air Products & Chemicals by 30.56% during the most recent quarter end. The investment management company now holds a total of 4,822,354 shares of Air Products & Chemicals which is valued at $665,388,405 after selling 2,122,048 shares in Air Products & Chemicals , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Air Products & Chemicals makes up approximately 3.04% of Viking Global Investors Lp’s portfolio.

Other Hedge Funds, Including , Glassman Wealth Services boosted its stake in APD in the latest quarter, The investment management firm added 2 additional shares and now holds a total of 230 shares of Air Products & Chemicals which is valued at $31,735. Air Products & Chemicals makes up approx 0.03% of Glassman Wealth Services’s portfolio.Tower Research Capital (trc) reduced its stake in APD by selling 3,260 shares or 91.01% in the most recent quarter. The Hedge Fund company now holds 322 shares of APD which is valued at $44,140. Campbell Newman Asset Management Inc sold out all of its stake in APD during the most recent quarter. The investment firm sold 2,175 shares of APD which is valued $287,666. Cornerstone Wealth Management added APD to its portfolio by purchasing 2,131 company shares during the most recent quarter which is valued at $281,846. Air Products & Chemicals makes up approx 0.11% of Cornerstone Wealth Management’s portfolio.Strs Ohio reduced its stake in APD by selling 3,704 shares or 3.08% in the most recent quarter. The Hedge Fund company now holds 116,706 shares of APD which is valued at $15,616,430. Air Products & Chemicals makes up approx 0.07% of Strs Ohio’s portfolio.

Air Products & Chemicals closed down -0.04 points or -0.03% at $137.96 with 15,59,209 shares getting traded on Monday. Post opening the session at $138, the shares hit an intraday low of $137.6 and an intraday high of $138.53 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Air Products & Chemicals reported $2.01 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Oct 27, 2016. Analyst had a consensus of $1.98. The company had revenue of $2463.00 million for the quarter, compared to analysts expectations of $2451.57 million. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.82 EPS.

Investors should note that on Nov 16, 2016, Air Products & Chemicals announced a cash dividend of $0.8600. The company’s management has announced Dec 29, 2016 as the ex-dividend date and fixed the record date on Jan 3, 2017. The payable date has been fixed on Feb 13, 2017.

Many Wall Street Analysts have commented on Air Products & Chemicals. Air Products & Chemicals was Upgraded by Argus to ” Buy” on Nov 21, 2016.

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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