Clearfield Capital Management Lp buys $50,361,224 stake in Air Products & Chemicals (APD)

Air Products & Chemicals (APD) : Clearfield Capital Management Lp scooped up 86,000 additional shares in Air Products & Chemicals during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 336,100 shares of Air Products & Chemicals which is valued at $50,361,224.Air Products & Chemicals makes up approximately 14.06% of Clearfield Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Geode Capital Management reduced its stake in APD by selling 3,252 shares or 0.22% in the most recent quarter. The Hedge Fund company now holds 1,500,277 shares of APD which is valued at $224,801,506. Air Products & Chemicals makes up approx 0.12% of Geode Capital Management’s portfolio. Exane Asset Management added APD to its portfolio by purchasing 86,397 company shares during the most recent quarter which is valued at $12,891,296. Air Products & Chemicals makes up approx 4.63% of Exane Asset Management’s portfolio. Becker Capital Management Inc added APD to its portfolio by purchasing 3,182 company shares during the most recent quarter which is valued at $471,604. Air Products & Chemicals makes up approx 0.02% of Becker Capital Management Inc’s portfolio. Jfs Wealth Advisors sold out all of its stake in APD during the most recent quarter. The investment firm sold 23 shares of APD which is valued $3,427.

Air Products & Chemicals opened for trading at $154.57 and hit $157.51 on the upside on Monday, eventually ending the session at $155.89, with a gain of 1.06% or 1.64 points. The heightened volatility saw the trading volume jump to 8,66,017 shares. Company has a market cap of $33,758 M.

On the company’s financial health, Air Products & Chemicals reported $1.92 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $1.90. The company had revenue of $2434.40 million for the quarter, compared to analysts expectations of $2404.06 million. The company’s revenue was down -1.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.65 EPS.

Investors should note that on Jul 21, 2016, Air Products & Chemicals announced a cash dividend of $0.8600. The company’s management has announced Sep 29, 2016 as the ex-dividend date and fixed the record date on Oct 3, 2016. The payable date has been fixed on Nov 14, 2016.

Many Wall Street Analysts have commented on Air Products & Chemicals. Air Products & Chemicals was Upgraded by JP Morgan to ” Overweight” on Aug 12, 2016. Seaport Global Securities Upgraded Air Products & Chemicals on Jul 11, 2016 to ” Buy”, Price Target of the shares are set at $165.

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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