Company Overview - Air Products is a leading industrial gases company with over 80 years of operation, focusing on energy, environmental, and emerging markets [2] - The company has two growth pillars driven by sustainability, providing essential industrial gases and related expertise across various industries [2] - Air Products is involved in developing and operating large clean hydrogen projects to support the transition to low- and zero-carbon energy [2] Financial Performance - For fiscal 2023, Air Products reported sales of $12.6 billion from operations in approximately 50 countries [3] - The current market capitalization of Air Products is about $60 billion [3] Workforce and Mission - The company employs approximately 23,000 individuals from diverse backgrounds, committed to creating innovative solutions for environmental sustainability [3] - Air Products aims to address challenges faced by customers, communities, and the world through its higher purpose [3] Upcoming Events - Air Products will release its fiscal 2024 fourth quarter financial results on November 7, 2024, prior to market open [1] - A teleconference to review these results will take place at 8:30 a.m. ET, open to the public and media in listen-only mode [1]

Multi-strategy hedge fund D.E. Shaw revealed on Thursday it had amassed a roughly $1 billion stake in industrial gas giant Air Products and Chemicals, the second activist stake at the $71 billion company. D.E. Shaw, one of the largest hedge funds in the world by assets, said in letters made public Thursday that its efforts to engage privately with the company had been largely rebuffed and marked by "an apparent lack of urgency." The investor plans to nominate three directors to the company's board, people f ...

Core Viewpoint - The D. E. Shaw group has called for significant changes in Air Products and Chemicals, Inc. to address its long-standing share underperformance and governance issues [1][4]. Group 1: Governance and Capital Allocation - The D. E. Shaw group emphasizes the need for a more rigorous capital allocation policy, proposing that future capital investments should be tied to offtake agreements [3]. - A new capital allocation framework is suggested, where Air Products' capital expenditures (CapEx) should not exceed the mid-teens as a percentage of revenue beyond fiscal year 2026 [3]. - The company is urged to refresh its Board with independent directors who have relevant experience in capital-intensive businesses [3]. Group 2: Succession Planning - The D. E. Shaw group insists on the establishment of a clear and credible CEO succession plan to enhance governance [3]. - The letter highlights the importance of restructuring executive compensation to align better with the company's strategy and performance [3]. Group 3: Engagement with the Board - The D. E. Shaw group expresses concern over the Board's lack of engagement and urgency in addressing the issues raised, noting that a follow-up meeting was abruptly canceled [4]. - The group remains open to constructive dialogue with the company to implement necessary changes for improving business and governance [4].

Air Products and Chemicals (APD) shares rallied 9.5% in the last trading session to close at $312.69. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 6.3% gain over the past four weeks.APD’s stock popped on reports that activist investor Mantle Ridge has amassed a large stake in the company. According to The Wall Street Journal, Mantle Ridge has acquired a more than $1 billion stake in the company and plans t ...

Air Products & Chemicals (APD, Financial) shares surged by 7.93% recently following the news of a significant activist investment. Mantle Ridge, an investment firm, has acquired over $1 billion in shares and plans to advocate for strategic changes at the company.Despite Air Products & Chemicals (APD, Financial) showing a positive price movement with its shares currently priced at $308.14, the company has underperformed in comparison to its competitor Linde over the past three years. This underperformance is ...

An activist investor has taken a stake in the industrial gases company.A high-profile activist investment firm has reportedly built a large stake in Air Products & Chemicals (APD 7.62%) and plans to push for changes at the industrial gas manufacturer. Investors are excited about the news, which came out Friday afternoon. As of 11 a.m. ET Monday, Air Products shares were up by 8% from Friday's close.Questions about succession, capital allocationAir Products distributes essential gases to industrial and medic ...

Hedge Fund Involvement - Mantle Ridge hedge fund has purchased $1 billion worth of Air Products (APD) shares, entering the industrial gas space [1] - Mantle Ridge is an activist investor known for actively engaging with companies rather than passively holding shares [1] - The hedge fund aims to help Air Products grow sustainably, focusing on internal improvements rather than external factors like government regulations or gas price fluctuations [1] Market Reaction - The market has responded positively to Mantle Ridge's involvement, with APD shares appreciating in value [1] - Mantle Ridge has a track record of influencing companies to make positive changes, leveraging their expertise in corporate governance, fundamental analysis, and industry trends [1] Uncertain Outcomes - There is no definitive public record of significant successes following Mantle Ridge's involvement in other companies [2] - While Mantle Ridge's involvement is promising, there is no guarantee that their efforts will lead to success for Air Products [2] - The outcome of Mantle Ridge's influence on Air Products is still uncertain and too early to predict [2]

Air Products and Chemicals, Inc.’s (APD) shares hit a fresh 52-week high of $302.03 on Friday, before retracing to close the session at $300.36.APD has rallied 23.4% over the past six months, outperforming its industry’s 3.5% rise. It has also topped the S&P 500’s roughly 26.1% rise over the same period. Image Source: Zacks Investment ResearchLet’s take a look into the factors that are driving APD stock.High-return Projects & Productivity Actions Drive APD StockAir Products is gaining from its investments i ...

Strategic divestiture reflects Air Products' commitment to its industrial gases and clean hydrogen growth strategyAll related assets, intellectual property, manufacturing capability, and personnel have successfully transferred to HoneywellLEHIGH VALLEY, Pa., Sept. 30, 2024 /PRNewswire/ -- Air Products (NYSE: APD) today announced it has completed the sale of its liquefied natural gas (LNG) process technology and equipment business to Honeywell for $1.81 billion in cash. First announced in July 2024, closing ...

Air Products and Chemicals, Inc.’s (APD) shares have shot up 21.2% over the past six months. The company has also outperformed its industry’s rise of 0.1% over the same time frame. APD has also topped the S&P 500’s roughly 9.2% rise over the same period.Let’s take a look into the factors that are driving APD stock. Image Source: Zacks Investment ResearchAPD Gains on High-return Projects & Productivity ActionsAir Products is benefiting from its investments in high-return industrial gas projects and productiv ...