Air Products and Chemicals Underperformance: A Comprehensive Analysis

Air Products and Chemicals Inc. (APD) has fallen 23.5% from its 52-week high and 21.7% over the past 52 weeks, underperforming the Dow Jones Industrial Average's 4.6% and 6.7% rise, respectively. Shares have declined 11.5% over the past three months and 10% YTD. APD has been trading below its 200-day and 50-day moving averages since mid-March and mid-September, respectively. Despite lower volumes and a 4.8% decline in adjusted EPS, the company's selling and administrative expenses decreased 3.9% from the same period last year.