Air Products: Getting Too Inflated

07/26/2013

Air Products: Getting Too Inflated

The Virtual Value Portfolio booked another gain today. We sold our 39 APD shares @ $106.92 this morning. Air Products (APD) set a new all-time high yesterday @ $108.66 after announcing that a ‘poison pill’ anti-takeover provision had been put into place.

I don’t like companies curtailing their ability to attract buyouts. The stock did not follow through with further upside today. Furthermore, APD shares are no longer undervalued.

APD was one of our original positions when we created the Virtual Value Portfolio on Oct. 26, 2012. We owned 39 shares purchased at $77.57. Our gain was 37.8% plus dividends achieved in nine months. We'll shift the sales proceeds of $4,169.88 into our cash reserves.

See details on our performance including all open and closed-out transactions are here.

Jul 26, 2013 12:00:00 AM | Value Investing

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Ilene

I'm editor at Phil's Stock World, and editor for Stock World Weekly. My background is in the biological sciences, and law. After a brief career in the legal field, I changed directions and am now working as an editor, and very much enjoying my experiences in the editing world.

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07/26/2013