Prices for industrial gas products
On February 15, 2017, Air Products & Chemicals (APD) announced price hikes for its liquid and bulk industrial gas products in the North America. The new prices will be effective March 1, 2017, or as the contract allows. Prices were raised for the following products:
- liquid argon raised 20.0%
- liquid oxygen, liquid nitrogen, liquid and bulk hydrogen raised 15.0%
- liquid carbon dioxide, liquid and bulk helium raised 10.0%
The North American region accounted for 39.0% of Air Products & Chemicals’ total revenue in 2016. The hike in its product prices might be beneficial and would be reflected in 1Q17.
APD’s stock price for the week
For the week ended February 17, 2017, APD closed at $141.50 and rose 1.0% for the week. APD stock was trading 0.40% above the 100-day moving average of $140.94, indicating a marginal upward trend in the stock.
On a year-to-date basis, APD has fallen 1.6%. Its 14-day RSI (relative strength index) of 47 indicates that the stock is neither overbought nor oversold. An RSI of 70 or above indicates that a stock is overbought, and a score of 30 or below suggests that the stock is oversold. APD’s 52-week low is $116.91, and its 52-week high is $150.45.
APD outperformed the Guggenheim S&P 500 Equal Weight Materials ETF (RTM), which fell 0.30% for the week ended February 17, 2017. The top holdings of RTM include CF Industries (CF), Sherwin-Williams (SHW), and Newmont Mining (NEM), with weights of 4.5%, 4.4%, and 4.3%, respectively.