Bronfman E.L. Rothschild L.P. lessened its stake in Air Products & Chemicals, Inc. (NYSE:APD) by 48.3% during the third quarter, HoldingsChannel reports. The firm owned 1,215 shares of the basic materials company’s stock after selling 1,135 shares during the period. Bronfman E.L. Rothschild L.P.’s holdings in Air Products & Chemicals were worth $203,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the company. United Capital Management of KS Inc. acquired a new stake in Air Products & Chemicals during the third quarter worth about $629,000. Bridgewater Associates LP acquired a new stake in Air Products & Chemicals during the second quarter worth about $513,000. GHP Investment Advisors Inc. raised its stake in Air Products & Chemicals by 4.1% during the second quarter. GHP Investment Advisors Inc. now owns 15,329 shares of the basic materials company’s stock worth $2,387,000 after acquiring an additional 606 shares during the period. Clean Yield Group raised its stake in Air Products & Chemicals by 18.9% during the third quarter. Clean Yield Group now owns 2,895 shares of the basic materials company’s stock worth $484,000 after acquiring an additional 460 shares during the period. Finally, Cadence Capital Management LLC raised its stake in Air Products & Chemicals by 10.2% during the second quarter. Cadence Capital Management LLC now owns 32,873 shares of the basic materials company’s stock worth $5,119,000 after acquiring an additional 3,035 shares during the period. Institutional investors and hedge funds own 86.29% of the company’s stock.
In other news, Chairman Seifi Ghasemi bought 20,000 shares of the firm’s stock in a transaction on Monday, November 12th. The stock was purchased at an average price of $160.11 per share, for a total transaction of $3,202,200.00. Following the transaction, the chairman now owns 408,652 shares in the company, valued at $65,429,271.72. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.37% of the stock is currently owned by corporate insiders.
APD opened at $161.37 on Friday. The stock has a market cap of $35.99 billion, a P/E ratio of 22.00, a price-to-earnings-growth ratio of 1.70 and a beta of 1.10. Air Products & Chemicals, Inc. has a fifty-two week low of $148.44 and a fifty-two week high of $175.17. The company has a current ratio of 2.17, a quick ratio of 2.00 and a debt-to-equity ratio of 0.30.
Air Products & Chemicals (NYSE:APD) last posted its earnings results on Tuesday, November 6th. The basic materials company reported $2.00 EPS for the quarter, topping the consensus estimate of $1.99 by $0.01. Air Products & Chemicals had a net margin of 16.77% and a return on equity of 15.30%. The firm had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the prior year, the firm earned $1.76 EPS. Air Products & Chemicals’s quarterly revenue was up 4.3% on a year-over-year basis. Sell-side analysts predict that Air Products & Chemicals, Inc. will post 8.19 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, February 11th. Shareholders of record on Wednesday, January 2nd will be given a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Monday, December 31st. Air Products & Chemicals’s dividend payout ratio (DPR) is 59.06%.
APD has been the topic of several research reports. BNP Paribas initiated coverage on shares of Air Products & Chemicals in a research note on Tuesday, October 2nd. They set an “outperform” rating on the stock. Zacks Investment Research lowered shares of Air Products & Chemicals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 16th. ValuEngine lowered shares of Air Products & Chemicals from a “buy” rating to a “hold” rating in a research note on Monday, October 22nd. Vertical Research upgraded shares of Air Products & Chemicals from a “hold” rating to a “buy” rating in a research note on Wednesday, August 29th. Finally, Sanford C. Bernstein initiated coverage on shares of Air Products & Chemicals in a research note on Monday, September 24th. They set an “outperform” rating and a $202.00 price objective on the stock. Fifteen research analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and a consensus target price of $190.08.
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Air Products & Chemicals Profile
Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, electronics and performance materials, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, argon, and rare gases; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including metals, glass, chemical processing, electronics, energy production and refining, food processing, metallurgical, medical, and general manufacturing.
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