Air Products and Chemicals, Inc. (APD)

Over the past six months, Air Products & Chemicals, Inc. stock has experienced a decline of 12.60% between January 13, 2025, and January 9, 2026, and a 3% fall since October. Key events impacting the stock include Q4 2025 earnings where adjusted EPS exceeded guidance but revenue fell short, project cancellations resulting in a $2.3 billion after-tax charge, the divestiture of its LNG business, a 16% workforce reduction as part of cost-cutting initiatives, analyst downgrades and price target reductions from several financial institutions, and investor investigations regarding claims on behalf of Air Products and Chemicals, Inc. investors.

Air Products & Chemicals, Inc. experiences demand seasonality for its products and services, particularly in the first and second fiscal quarters due to the Lunar New Year in China. The helium market is cyclical and currently "long" due to an influx of Russian helium into Asian markets, putting pressure on pricing and contributing to lower merchant demand for helium, particularly in Europe. Historically, there has been a seasonal pattern in the stock's performance, with a "Buy Date" of February 11 and a "Sell Date" of June 11 showing a geometric average return of 3.81% above the S&P 500 Total Return Index over the past 20 years.

Air Products & Chemicals, Inc. is a global industrial gases company operating in the Process Industries sector, specifically in Specialty Chemicals. The company produces and distributes gases and chemicals for industrial use, including atmospheric gases like oxygen, nitrogen, and argon, and process gases like hydrogen, helium, carbon dioxide, carbon monoxide, and syngas. Air Products also designs and manufactures equipment for air separation, hydrocarbon recovery and purification, natural gas liquefaction, and the transport and storage of liquid helium and liquid hydrogen, serving industries such as refining, petrochemicals, metals, electronics, manufacturing, food and beverage, and healthcare. The company is involved in developing technologies for a low-carbon economy, particularly in hydrogen for mobility and carbon capture.

Air Products & Chemicals, Inc. has a significant global presence, serving customers in over 50 countries. The company's operations are segmented across the Americas, Asia, Europe, and the Middle East and India. Approximately 60% of APD's total sales in fiscal year 2025 were generated from outside the United States.

In the past year, Air Products & Chemicals, Inc.'s brand reputation has been affected by the cancellation of large, speculative clean energy projects and investor alerts and investigations by law firms. Despite these challenges, Air Products is actively working to enhance its reputation through its commitment to sustainability, aiming to increase its renewable energy usage from 23% in 2023 to over 90% by 2030, and emphasizes its leadership in hydrogen and carbon capture innovation.

The ownership structure of Air Products & Chemicals, Inc. is predominantly institutional, with approximately 91.94% of the company's stock held by institutional shareholders, 2.72% owned by insiders, and 5.34% by retail investors. Major institutional owners include Vanguard Group Inc., BlackRock, Inc., State Farm Mutual Automobile Insurance Co, Capital Research Global Investors, State Street Corp, Dodge & Cox, Capital International Investors, and Jpmorgan Chase & Co. Mantle Ridge LP is the largest individual shareholder, holding 4.11 million shares, representing 1.85% of the company.