End markets and operational matters usually drive share prices, but this decline is a reaction to administrative matters -- in other words, how Air Products is being run. In December, Air Products' management and the activist hedge fund Mantle Ridge engaged in a war of words instigated by the latter's determination to restructure the board and replace Air Products CEO Seifi Ghasemi.

Air Products and Chemicals, Inc. APD benefits from its project investments, productivity actions and new business deals amid the softness in China and Europe. The company’s shares have gained 4.8% over a year compared with the Zacks Chemicals Diversified industry’s 11.

This was the stock's second consecutive day of losses.