Air Products & Chemicals, Inc. (APD): Hedge Fund Sentiment Unchanged

Judging by the fact that Air Products & Chemicals, Inc. (NYSE:APD) has faced bearish sentiment from the aggregate hedge fund industry, it’s safe to say that there is a sect of funds that elected to cut their entire stakes last quarter. It’s worth mentioning that John Griffin’s Blue Ridge Capital sold off the largest investment of the “upper crust” of funds studied by Insider Monkey, comprising close to $226.8 million in stock. Jean-Marie Eveillard’s First Eagle Investment Management, also dropped its stock, about $74.8 million worth.

Let’s also examine hedge fund activity in other stocks similar to Air Products & Chemicals, Inc. (NYSE:APD). These stocks are Estee Lauder Companies Inc (NYSE:EL), Boston Scientific Corporation (NYSE:BSX), Anadarko Petroleum Corporation (NYSE:APC), and IntercontinentalExchange Inc (NYSE:ICE). This group of stocks’ market values are closest to APD’s market value.

As you can see these stocks had an average of 47 hedge funds with bullish positions and the average amount invested in these stocks was $2193 million. That figure was $4336 million in APD’s case. Anadarko Petroleum Corporation (NYSE:APC) is the most popular stock in this table. On the other hand Estee Lauder Companies Inc (NYSE:EL) is the least popular one with only 29 bullish hedge fund positions. Air Products & Chemicals, Inc. (NYSE:APD) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard APC might be a better candidate to consider taking a long position in.

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Disclosure: None