Tocqueville Asset Management L.P. trimmed its position in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 0.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 77,704 shares of the basic materials company’s stock after selling 325 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Air Products & Chemicals were worth $12,980,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Honkamp Krueger Financial Services Inc. bought a new stake in Air Products & Chemicals during the third quarter worth $116,000. Braun Bostich & Associates Inc. grew its stake in Air Products & Chemicals by 542.6% in the 2nd quarter. Braun Bostich & Associates Inc. now owns 739 shares of the basic materials company’s stock valued at $115,000 after purchasing an additional 624 shares during the period. NuWave Investment Management LLC grew its stake in Air Products & Chemicals by 8,770.0% in the 3rd quarter. NuWave Investment Management LLC now owns 887 shares of the basic materials company’s stock valued at $148,000 after purchasing an additional 877 shares during the period. Douglass Winthrop Advisors LLC bought a new position in Air Products & Chemicals in the 3rd quarter valued at $200,000. Finally, Perigon Wealth Management LLC bought a new position in Air Products & Chemicals in the 3rd quarter valued at $202,000. 86.29% of the stock is currently owned by institutional investors.
A number of research analysts have issued reports on the company. BMO Capital Markets set a $200.00 price objective on Air Products & Chemicals and gave the company a “buy” rating in a research note on Thursday, November 8th. Citigroup reduced their price objective on Air Products & Chemicals from $200.00 to $181.00 and set a “buy” rating for the company in a research note on Tuesday, November 13th. Deutsche Bank upped their price objective on Air Products & Chemicals from $190.00 to $192.00 and gave the company a “buy” rating in a research note on Tuesday, August 14th. ValuEngine upgraded Air Products & Chemicals from a “hold” rating to a “buy” rating in a research note on Friday, November 16th. Finally, Sanford C. Bernstein assumed coverage on Air Products & Chemicals in a research note on Monday, September 24th. They issued an “outperform” rating and a $202.00 price objective for the company. Fifteen analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and an average target price of $190.08.
Shares of NYSE APD opened at $163.00 on Friday. Air Products & Chemicals, Inc. has a one year low of $148.44 and a one year high of $175.17. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.00 and a current ratio of 2.17. The firm has a market cap of $35.99 billion, a PE ratio of 21.85, a PEG ratio of 1.70 and a beta of 1.10.
Air Products & Chemicals (NYSE:APD) last issued its quarterly earnings results on Tuesday, November 6th. The basic materials company reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.01. Air Products & Chemicals had a return on equity of 15.30% and a net margin of 16.77%. The firm had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the prior year, the firm earned $1.76 EPS. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, research analysts expect that Air Products & Chemicals, Inc. will post 8.19 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, February 11th. Stockholders of record on Wednesday, January 2nd will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Monday, December 31st. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.70%. Air Products & Chemicals’s dividend payout ratio is presently 59.06%.
In other news, Chairman Seifi Ghasemi purchased 20,000 shares of the company’s stock in a transaction dated Monday, November 12th. The shares were purchased at an average price of $160.11 per share, with a total value of $3,202,200.00. Following the transaction, the chairman now directly owns 408,652 shares of the company’s stock, valued at $65,429,271.72. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 0.37% of the stock is owned by corporate insiders.
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Air Products & Chemicals Company 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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