Air Products and Chemicals (APD) is one of the current activist targets of Bill Ackman (Trades, Portfolio) and he currently holds 20,549,076 shares of the company. In addition to Bill Ackman, the company’s CEO - Seifollah Ghasemi – also seems very upbeat about the company’s prospects and is actively buying its shares. On May 1, 2015, he bought 20,000 shares of the company. In total, he has purchased 135,000 shares of the company since he became the CEO. He is the person in charge of turnaround and his buy back activity makes me bullish on the company.
Air Products recently reported solid 2Q FY2015 results with adjusted EPS of $1.55, up 17 percent versus prior year. The company's adjusted EBITDA margin of 29.4% was up 440 basis points versus prior year. In addition, the company also announced that it has been awarded contract with Saudi Aramco for the world’s largest industrial gas complex which will supply 75,000 metric tons per day (20,000 oxygen and 55,000 nitrogen) to Saudi Aramco’s refinery being built in Jazan, Saudi Arabia for 20 years. Commenting on the win, Air Product's CEO Seifi Ghasemi said: Continue Reading »