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

Air Products & Chemicals (APD) : Tricadia Capital Management reduced its stake in Air Products & Chemicals by 8.87% during the most recent quarter end. The investment management company now holds a total of 175,000 shares of Air Products & Chemicals which is valued at $26,222,000 after selling 17,031 shares in Air Products & Chemicals , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Air Products & Chemicals makes up approximately 8.35% of Tricadia Capital Management’s portfolio.

Other Hedge Funds, Including , Oliver Luxxe Assets sold out all of its stake in APD during the most recent quarter. The investment firm sold 5,207 shares of APD which is valued $780,217.Global X Management Co reduced its stake in APD by selling 18,087 shares or 98.85% in the most recent quarter. The Hedge Fund company now holds 211 shares of APD which is valued at $31,450. Barbara Oil added APD to its portfolio by purchasing 4,000 company shares during the most recent quarter which is valued at $596,200. Air Products & Chemicals makes up approx 0.47% of Barbara Oil’s portfolio. Meag Munich Ergo Kapitalanlagegesellschaft Mbh sold out all of its stake in APD during the most recent quarter. The investment firm sold 2,500 shares of APD which is valued $373,550.

Air Products & Chemicals closed down -0.05 points or -0.03% at $155.43 with 8,05,406 shares getting traded on Tuesday. Post opening the session at $156, the shares hit an intraday low of $155.38 and an intraday high of $156.85 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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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