Air Products and Chemicals, Inc. (APD)

Air Products & Chemicals, Inc. experienced several notable stock events in the past six months. Activist hedge fund Mantle Ridge engaged with Air Products' management, leading to board changes and the appointment of a new CEO. The company's Q1 fiscal year 2025 earnings exceeded guidance, while Q2 reported a net loss due to business and asset actions. A strategic shift was announced, with the company exiting three U.S. projects and returning to its core industrial gas business. The sale of its LNG business to Honeywell International Inc. was completed. Air Products declared quarterly dividends, marking the 43rd consecutive year of increases. Analyst sentiment has been mixed, and the stock price has seen a decline over the last six months.

Demand for Air Products & Chemicals, Inc. products and services experiences some seasonality, particularly in the first and second fiscal quarters due to the Lunar New Year in China. Global demand for essential gases like hydrogen and nitrogen continues to rise, positioning APD for potential future growth.

Air Products & Chemicals, Inc. is a global industrial gases company operating in the Materials sector, specifically in the Specialty Chemicals industry. The company produces and distributes essential industrial gases and chemicals, including atmospheric gases and process gases. Air Products also produces refinery hydrogen, LNG technologies and equipment, epoxy additives, gas cabinets, advanced coatings, adhesives, turbomachinery, membrane systems, and cryogenic containers. The company serves a wide array of industries and is focused on developing large-scale clean hydrogen projects and carbon capture initiatives.

Air Products & Chemicals, Inc. has a global presence, operating in approximately 50 countries across the Americas, Asia, Europe, the Middle East, and India. The company maintains an extensive infrastructure with over 200 production facilities worldwide, and approximately 836 production and distribution facilities specifically in North and South America, EMEA, and Asia.

Air Products & Chemicals, Inc. has a reputation for its innovative culture, operational excellence, and commitment to safety and the environment. The company emphasizes its commitment to sustainability and green energy projects. However, the company's reputation was impacted by the public dispute with activist hedge fund Mantle Ridge. The strategic pivot, including exiting certain clean energy projects, also reflects a re-evaluation of past strategic decisions.

The ownership structure of Air Products & Chemicals, Inc. is predominantly held by institutional investors, owning approximately 63.22% to 89% of the company's stock. Insiders own less than 1%, and public companies and individual investors hold approximately 16.27% to 20.13%. Major institutional owners include Vanguard Group Inc., BlackRock, Inc., and Capital Research Global Investors.