APD
Air Products & Chemicals Inc
Industrial/Transportation, Event Driven/Special Sit
09/23/2013
Presented
| Date | 09/17/2013 |
| Price | $107.99 |
| Market Cap | $22.60B |
| Ent Value | $28.87B |
| P/E Ratio | 32.56x |
| Book Value | $34.31 |
| Div Yield | 1.9% |
| Shares O/S | 209.65M |
| Ave Daily Vol | 1,920,000 |
| Short Int | 1.56% |
Current
| Price | $323.23 |
| Market Cap | $71.86B |
| Air Products and Chemicals, Inc. provides atmospheric gases, process and specialty gases, performance materials, equipment, and services worldwide. The company’s Merchant Gases segment sells atmospheric gases, such as oxygen, nitrogen, and argon; process gases, including hydrogen and helium; and medical and specialty gases for the metal, glass, chemical processing, food processing, healthcare, steel, general manufacturing, and petroleum and natural gas industries. Its Tonnage Gases segment provides hydrogen, carbon monoxide, nitrogen, oxygen, and synthesis to the energy production and refining, chemical, and metallurgical industries; and produces Polyurethane Intermediates. The company’s Electronics and Performance Materials segment offers nitrogen trifluoride, silane, arsine, phosphine, white ammonia, silicon tetrafluoride, carbon tetrafluoride, hexafluoromethane, critical etch gases, and tungsten hexafluoride; and tonnage gases, specialty chemicals, and services and equipment for the manufacture of silicon and compound semiconductors, thin film transistor liquid crystal displays, and photovoltaic devices. This segment also provides performance materials for a range of products, including coatings, inks, adhesives, civil engineering, personal care, institutional and industrial cleaning, mining, oil refining, and polyurethanes. Its Equipment and Energy segment designs and manufactures cryogenic equipment for air separation, hydrocarbon recovery and purification, natural gas liquefaction, and helium distribution; and offers plant design, engineering, procurement, and construction management services for the chemical and petrochemical manufacturing, oil and gas recovery and processing, and steel and primary metals processing industries. The company was founded in 1940 and is headquartered in Allentown, Pennsylvania. |
Please note, this idea was updated on 10/8/2013 and can be read here: LONG - Air Products and Chemicals, Inc. (APD)
Highlights
At the end of July, Pershing Square’s Bill Ackman announced he had established a $2.2 billion (10%) position in Air Products (APD), and was launching a campaign to influence change at one of the four large global players in industrial gases (the others being Praxair, Linde and Air Liquide). The presenter characterized the industrial gas business as a “phenomenal compounding business,” and believes the company is capable of improving its operations. If the turnaround is successful, APD’s stock could be worth as much as $165 in 18-24 months.
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