Air Products & Chemicals Inc.
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W.R. Grace Signs a Spree of New Contracts
On November 27 and 28, 2017, W.R. Grace (GRA) signed a spree of new contracts for its Unipol license.
Why high-grade bond issuance dropped to the lowest level in 2014
With the earnings season in full swing, issuance levels have fallen over the past few weeks—a number of corporate borrowers are subject to blackout periods preceding their quarterly earnings releases.
Why did Ackman’s Pershing Square exit General Growth Properties?
Last week, Pershing Square exited its entire stake in General Growth Properties.
Why Pershing Square increased its stake in Air Products and Chemicals
Pershing Square increased its position in Air Products and Chemicals, Inc. from 21.31% in 3Q 2013 to 27.91% in 4Q 2013.
Air Products and Chemicals’ New Plant in China Begins Operations
On December 5, 2017, Air Products and Chemicals (APD) announced the beginning of operations of its new plant in the Pukou Economic Development Zone (PKEDZ) in Nanjing in Eastern China.
4Q14 Updates to Pershing Square Holdings
Pershing Square Holdings filed its fourth quarter 13F last month. The fund’s US long portfolio rose to $16.04 billion, from $13.4 billion in 4Q14.
Why Is Praxair Trading at a Discount Compared to Peers?
On December 9, Praxair was trading at a one-year forward PE ratio of 21.0x, as compared to Air Products and Chemicals’ one-year forward PE ratio of 22.9x.
Air Products and Chemicals Has Something New for Glass Manufacturers
On July 12, 2017, Air Products and Chemicals (APD) launched a new oxy-fuel burner. The product is primarily targeted at glass manufacturers.
Limited risk of Herbalife stock price increase, Ackman believes
Ackman believes there’s little chance of an Herbalife stock price increase and said Herbalife’s stock price is down almost 50%.
Praxair Stock Continues to Surge beyond November
Praxair (PX) stock had a decent performance in November, closing at $120.3, which reflects a gain of ~3.7% in one month.
Will Ackman’s bearish stance on Herbalife (HLF) finally pay off?
In this six part series, we’ll go through some of the main positions Pershing Square Capital Management LP traded this past quarter.
Dow Chemical Unleashes New Investment Plans
On September 12, Dow Chemical, part of DowDuPont (DWDP), announced debottlenecking and capacity expansion plans in its silicones business.
DowDuPont’s Q3 Revenue Grew but Fell Short of Estimates
DowDuPont (DWDP) reported Q3 2018 revenues of $20.12 billion, an increase of 10.0% over its pro forma revenues of $18.29 billion in Q3 2017.
Why PPG Industries’ Adjusted Q1 Earnings Might Fall
In a press release on March 27, PPG Industries (PPG) said that it would announce its first-quarter earnings on April 18 before the market opens.
Analyzing APD’s Stock Performance in 2019
As of March 28, Air Products and Chemicals has gained 18.8% in 2019. Air Products and Chemicals has outperformed the S&P 500 ETF (SPY).
APD’s Dividend Yield Fell despite the Higher Dividend
As of March 28, Air Products and Chemicals’ dividend yield was 2.45%—30 basis points less than the fourth-quarter dividend yield of 2.75%.
Air Products and Chemicals Increased the Q1 Dividend
Air Products and Chemicals has declared a dividend of $1.16 per share, which represents an increase of ~5.5% on a YoY (year-over-year) basis.
DowDuPont Board Approves Materials Science Division Separation
In a press release on March 8, DowDuPont (DWDP) made an announcement that its board of directors has approved the separation of DowDuPont’s Materials Science division.
Air Products and Chemicals Completes Acquisition of ACP Europe SA
In a press release today, Air Products and Chemicals (APD) announced that it had completed its acquisition of ACP Europe SA.
Corteva Agriscience Provided Its 2019 Guidance
On February 21, Corteva Agriscience, DowDuPont’s (DWDP) agriculture division, provided its 2019 guidance in its sell-side analyst meeting.
DowDuPont Declared Its Quarterly Dividend
DowDuPont declared a dividend of $0.38 per share, which indicates that there isn’t a change in the dividend rate year-over-year.
APD Enters an Agreement to Collaborate with Saudi Aramco
On January 25, Air Products and Chemicals (APD) announced that it has entered into an agreement with Saudi Aramco.
What Caused PPG’s Q4 2018 Revenue to Fall?
For the fourth quarter, PPG Industries (PPG) reported revenue of $3.64 billion, a fall of 1.0% YoY (year-over-year).
APD to Build Second Hydrogen Plant in California
On January 7, Air Products and Chemicals (APD) announced that it plans to build a second liquid hydrogen plant in California.
PPG Industries Acquires Hemmelrath
On January 7, PPG Industries announced that it signed a definitive agreement to acquire Hemmelrath—an automotive coating manufacturer.
Axalta Signs a Three-Year Global Alliance with Plenham
On January 4, Axalta (AXTA) announced a three-year global alliance with Plenham—the parent company of Bodyshop and IBIS Worldwide.
Ashland Increases Composite Product Prices in India
On January 3, Ashland (ASH) announced that it will increase composite product prices. The price increase is limited to India.
Air Products and Chemicals’ Quarterly Dividend
Air Products and Chemicals has declared a dividend of $1.10 per share, which represents an increase of 15.8% on a YoY basis.
Air Products and Chemicals Signed a New Agreement
On December 19, Air Products and Chemicals (APD) signed an agreement with N.V. Nederlandse Gasunie to supply three nitrogen plants.
Air Products and Chemicals Increases Gas Prices in North America
On December 17, Air Products and Chemicals (APD) announced that it would increase the prices of bulk and industrial gases.
Albemarle: What Institutional Activities Suggest
The 13F filings on September 30 indicate that institutional investors own ~93.4% of Albemarle’s (ALB) outstanding shares.
DowDuPont to Raise $12.7 Billion in Debt
On November 13, DowDuPont (DWDP) announced that it intends to raise $12.7 billion in debt through senior notes.
What Drove APD’s Industrial Gases–Asia Segment’s Revenues?
Air Products and Chemicals’ (APD) Industrial Gases–Asia segment accounted for 27.5% of the company’s total revenues in the fourth quarter.
APD’s Industrial Gases–EMEA Segment: Lowest Margin in Two Years
In the fourth quarter, the Industrial Gases–EMEA segment’s total revenue contribution expanded by 0.7 percentage points YoY.
APD’s Industrial Gases–Americas Segment’s Margins Fell
Air Products and Chemicals’ (APD) Industrial Gases–Americas segment was the company’s largest revenue contributor in the fourth quarter.
APD’s Q4 Adjusted EPS Beat the Estimates, Stock Rose
Air Products and Chemicals (APD) announced its fourth-quarter earnings on November 6. The company reported an adjusted EPS of $2.00.
APD’s Q4 2018 Earnings Beat Estimates, Revenues Missed
On November 6, Air Products and Chemicals reported revenues of $2.30 billion for the fourth quarter.
Can APD Keep Up its Upward Revenue Trend?
Air Products and Chemicals (APD) is expected to report revenues of $2.31 billion in the fourth quarter of the fiscal year, which represents a ~4.9% increase from to the fourth quarter of 2017.
IFF Is Set to Post Record Q3 Revenues despite Lower Growth
International Flavors and Fragrances (IFF) is expected to report revenues of $895.83 million in its third-quarter earnings.
Praxair-Linde Merger Gets Approval from Federal Trade Commission
On October 22, the FTC (Federal Trade Commission) provided conditional approval of the merger of Praxair (PX) and Linde AG.
APD: Industrial Gas Prices Will Increase in North America
On September 17, Air Products and Chemicals (APD) announced that it’s increasing the prices of its liquid and bulk industrial gases.
APD to Increase Supply for Samsung Electronics
Air Products and Chemicals stock gained 2.3% and closed at $168.61 for the week ending September 14.
Air Products to Build New Hydrogen Plant in La Porte, Texas
Air Products and Chemicals (APD) announced its plans to build a liquid hydrogen plant in La Porte, Texas, which could be online by 2021.
DowDuPont to Be Part of FTSE4Good Index
On August 25, DowDuPont (DWDP) announced that it had been named as a part of the FTSE4Good Index Series.
Why Albemarle’s Catalysts Segment Revenue Rose despite Divestiture
Albemarle’s (ALB) Catalysts segment accounted for 33.4% of ALB’s total revenues in Q2 2018 compared to 35% in Q2 2017, a decrease of 1.6 percentage points on a YoY (year-over-year) basis.
Inside Praxair’s Asian Segment in Q2 2018
Praxair’s (PX) Asian segment was its second-biggest revenue contributor in Q2 2018.
APD’s Industrial Gases–Asia Segment’s Operating Margin Rose in Q3
Air Products and Chemicals’ (APD) Industrial Gases–Asia segment accounted for 27.6% of APD’s total revenues in fiscal Q3 2018, expanding by 2.2 percentage points YoY from 25.4%.
How APD’s Industrial Gases–EMEA Segment Performed in Fiscal Q3
In fiscal Q3 2018, Air Products and Chemicals’ (APD) Industrial Gases–EMEA segment’s total revenue contribution expanded 3.5 percentage points YoY to 24.8% from 21.3%.
Can APD’s Adjusted Earnings Beat the Estimates?
Air Products and Chemicals (APD) is expected to report an adjusted EPS of $1.84 in the third fiscal quarter.
Who Are the Top Institutional Investors in APD?
The 13F filings by institutional investors as of March 31 indicate that institutional investors own 87.0% of Air Products and Chemical’s (APD) outstanding shares.
Air Products Hikes Prices of Liquid, Bulk Industrial Gas Products
On June 22, Air Products and Chemicals (APD) announced a price increase for its liquid and bulk industrial gas products.
Air Products and Chemicals Upgrades Its Asia Technology Center
Analysts are bullish on APD stock and have projected a target price of $184.40.
IFF Partners with Amkiri, Boosts Innovation Platform
On May 24, International Flavors and Fragrances announced that it would partner with Amkiri—an Israeli-based startup that was founded in 2014.
LyondellBasell’s 1Q18 Revenue Was Its Best since 4Q14
For 1Q18, LyondellBasell (LYB) reported revenue of $9.8 billion, an increase of 15.9% on a YoY (year-over-year) basis.
How APD’s Industrial Gases–Asia Segment Performed in Fiscal 2Q18
Air Products and Chemicals’ (APD) Industrial Gases–Asia segment accounted for 25.9% of APD’s total revenue in fiscal 2Q18, narrowing by 3.2 percentage points YoY (year-over-year) from 22.7%.
Air Products and Chemicals Sees Growth across the Board in 2Q18
Air Products and Chemicals’ (APD) revenue rose 9.0% YoY (year-over-year) to $2.16 billion in fiscal 2Q18, missing analysts’ estimate of $2.2 billion.
Air Products and Chemical Beats Estimates in 2Q18, Stock Rises
Air Products and Chemicals (APD) announced its fiscal 2Q18 earnings on April 26.
Praxair Stock Is Smoking on 1Q18 Earnings and Revenue Beat
Praxair (PX), the top industrial gas company, reported revenues of ~$3.0 billion for 1Q18 today.
Why RPM’s Industrial Segment Grew in Fiscal 3Q18
RPM International’s (RPM) Industrial segment has been the largest contributor to RPM’s overall revenue, comprising 51.6% of revenue in fiscal 3Q18 and 51.0% in fiscal 3Q17.
RPM International Changes Rust-Oleum Group’s CEO
Edward J. Voorhees III, Rust-Oleum North America’s president, replaced Thomas E. Reed as Rust-Oleum Group’s CEO on March 1, 2018.
Albemarle’s Refining Solutions Segment: Revenue Growth in 4Q17
Albemarle’s (ALB) Refining Solutions segment accounted for 27.8% of its total revenues in 4Q17 compared to 27.7% in 4Q16.
Why Albemarle’s Short Interest Increased After Its 3Q17 Release
Albemarle’s short interest As of January 31, 2018, Albemarle’s (ALB) short interest had increased in a big way since its 3Q17 earnings announcement on November 8, 2017, which indicates bearishness. Between November 8 and January 31, ALB’s short interest as a percentage of outstanding shares rose to 8.2% from 5.4%, and its stock price fell from $111.59 to […]
LyondellBasell Moves to Acquire A. Schulman
On February 15, 2018, LyondellBasell (LYB) announced that it has entered into a definitive agreement to acquire A. Schulman (SHLM).
International Flavors and Fragrances Posts Highest Q4 Revenue
International Flavors and Fragrances (IFF) reported revenue of $854.6 million in 4Q17, a rise of ~12.1% on a YoY (year-over-year) basis.
What’s behind DowDuPont’s Significant Revenue Growth in 4Q17?
DowDuPont (DWDP) reported 4Q17 revenues of $20.1 billion, an increase of 13.1% over the proforma revenue of $17.7 billion in 4Q16.
What Could Drive DowDuPont’s Adjusted Earnings in 4Q17?
DowDuPont (DWDP) is expected to post an adjusted EPS (earnings per share) of $0.66 in 4Q17. DowDuPont posted an adjusted EPS of $0.55 in 3Q17.
What Praxair’s Short Interest Suggests before 4Q17 Earnings
The latest short interest data as of December 30, 2017, show that Praxair’s (PX) short interest has increased since its 3Q17 earnings were announced on October 26, 2017.
Praxair’s Valuation Compared to Its Peer before 4Q17 Earnings
Praxair’s (PX) one-year forward PE multiple currently stands at 25.8x. Its peer Air Products & Chemicals (APD) has a one-year forward PE multiple of 23.6x.
Praxair’s 4Q17 Revenue Expectations: The Driving Factors
As of January 15, 2018, analysts are expecting Praxair (PX) to post revenue of $2.8 billion for 4Q17, a 6.8% rise on a year-over-year basis.
Praxair’s Stock Performance since Its 3Q17 Earnings
Praxair (PX) is set to announce its 4Q17 and fiscal 2017 earnings on January 25, 2018, before the market opens. Since its 3Q17 earnings release on October 27, 2017, PX stock has risen 9.7%.
Why Albemarle’s Refining Solutions Segment Fell in 3Q17
Albemarle’s (ALB) Refining Solutions segment is the company’s lowest revenue generator, accounting for 22.6% of its total revenues in 3Q17 compared to 29.1% in 3Q16.
Albemarle’s 3Q17 Revenue Rises on Lithium Segment Growth
Albemarle (ALB) reported revenues of $754.9 million in 3Q17, a rise of 15.4% on a year-over-year basis. In 3Q16, its revenues were $654 million.
How IFF Stock Reacted to Better-than-Expected 3Q17 Earnings
International Flavors and Fragrances (IFF) announced its 3Q17 earnings on November 7 during market hours.
DowDuPont Declares Quarterly Dividend and New Share Repurchase Plan
On November 2, 2017, DowDuPont (DWDP) declared a dividend of $0.38 per share for the fourth quarter.
How Analysts View Air Products and Chemicals after Fiscal 4Q17
The analysts’ consensus indicates the 12-month target price of APD to be $167.00, implying a return potential of 3.8% over the closing price of $160.88 on October 26, 2017.
Did Higher Interest Expense Impact IFF’s Interest Coverage Ratio?
At the end of 2Q17, International Flavors and Fragrances’ interest coverage ratio stood at 9.1x.
Air Products and Chemicals Stock Could More in 2017
So far, Air Products and Chemicals (APD) stock has disappointed investors in 2017. As of September 19, 2017, Air Products and Chemicals has returned 4.60%.
Wall Street Talks: Analysts’ Recommendations for PolyOne
About 67.0% of analysts covering PolyOne (POL) have recommended a “buy” for the stock, and 33.0% have recommended a “hold.”
How Huntsman’s Valuation Compares
Huntsman’s forward price-to-earnings multiple On September 13, 2017, Huntsman’s (HUN) one-year forward PE (price-to-earnings) multiple was 12.4x. To compare, peer Eastman Chemical’s (EMN) multiple was 10.8x. Forward PE multiples can be used to compare companies operating in the same industry. Huntsman trades at premium At present, Huntsman is trading at a premium to Eastman Chemical. Analysts expect Huntsman […]
Eastman Chemical to Expand CHDM Capacity
Eastman Chemical had a strong week last week. The stock closed at $87.31 with a rise of 2.9% for the week ended September 1, 2017.
W.R. Grace Made Several Acquisitions Last Week
On August 28, 2017, W.R. Grace (GRA) announced that it had entered a definitive agreement to acquire Evonik’s dental silica business.
Dividend Yield of Air Products & Chemicals
In this series, we’ll be looking at ten dividend aristocrats with low PE ratios. Dividend aristocrats are S&P 500 stocks that have raised their dividend payouts for at least 25 successive years.
What IFF’s Valuations Suggest about the Stock
As of August 17, 2017, International Flavors and Fragrances traded at a one-year forward PE (price-to-earnings) multiple of 22.20x.
APD’s Industrial Gases-Asia Segment’s Revenue Grew in 3Q17
The Industrial Gases-Asia segment reported revenue of $538.3 million—an increase of 19.90% on a YoY (year-over-year) basis.
Analyzing APD’s Industrial Gases-Americas Segment in 3Q17
Air Products & Chemicals’ (APD) Industrial Gases-Americas segment was the largest revenue contributor to the company’s overall revenue.
Why Air Products & Chemicals’ Revenue Rose in 3Q17
Air Products & Chemicals (APD) follows October 1–September 30 as its fiscal year. The company reported revenue of $2.11 billion.
Air Products & Chemicals’ Stock Price Rose
Air Products & Chemicals (APD) announced its fiscal 3Q17 earnings on August 1, 2017. Its adjusted EPS from continuing operations was $1.65.
Analyzing DuPont’s Nutrition and Health Segment in 2Q17
DuPont’s (DD) Nutrition and Health segment is the company’s third-largest revenue generator. The segment accounted for 11.0% of DuPont’s revenue in 2Q17.
How Analysts View APD’s Fiscal 3Q17 Adjusted Earnings
On March 31, 2017, APD was left with $485.3 million from its share repurchase program.
Air Products and Chemicals Stock before Its Fiscal 3Q17 Earnings
Air Products and Chemicals (APD) plans to announce its fiscal 3Q17 earnings on August 1. In this series, we’ll analyze APD’s performance since its fiscal 2Q17 earnings release.
Axalta Acquires IVA’s European and Chinese Operations
On July 19, 2017, Axalta (AXTA) announced that it entered into an agreement with IVA to acquire its European and Chinese operations.
Can Praxair Manage Its Interest Expense?
Praxair’s (PX) interest expense has been on an upward trend since 2012 when its debt grew.
Praxair Debt: Is It Stressed Out or Manageable?
At the end of 1Q17, Praxair’s (PX) debt was ~$9.4 billion. Its history over the past five years suggests that its debt has been on the rise.
International Flavors and Fragrances Launches New Company
IFF fell 0.8% for the week ended June 30, 2017, and closed at $135.00.
Why APD’s Latest Valuations Matter
On June 19, 2017, Air Products and Chemicals (APD) was trading at a one-year forward PE ratio of 22.3x Praxair’s one-year forward PE ratio stood at 22.8x.
How Consistent Is APD’s Dividend?
On June 16, 2017, APD closed at $145.51, which, considering the company’s current dividend rate, means that its current dividend yield is at 2.54%.
Celanese Raises Product Prices in Europe and Asia
On June 13, 2017, Celanese (CE) increased the prices of methyl isobutyl carbinol (or MIBC) in Europe.
Understanding Praxair’s Dividend Yield Today
Praxair’s (PX) declared a 2Q17 quarterly dividend of ~$0.79 per share. PX’s current dividend yield now stands at 2.38%.