SevenBridge Financial Group LLC lowered its stake in Air Products & Chemicals, Inc. (NYSE:APD) by 2.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,783 shares of the basic materials company’s stock after selling 306 shares during the quarter. Air Products & Chemicals accounts for approximately 1.4% of SevenBridge Financial Group LLC’s portfolio, making the stock its 23rd largest position. SevenBridge Financial Group LLC’s holdings in Air Products & Chemicals were worth $2,614,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in APD. Vanguard Group Inc. boosted its holdings in Air Products & Chemicals by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 19,674,476 shares of the basic materials company’s stock worth $4,453,711,000 after acquiring an additional 411,472 shares during the last quarter. BlackRock Inc. raised its stake in Air Products & Chemicals by 2.8% in the 2nd quarter. BlackRock Inc. now owns 16,830,640 shares of the basic materials company’s stock valued at $3,809,950,000 after acquiring an additional 454,016 shares during the period. Wells Fargo & Company MN raised its stake in Air Products & Chemicals by 1.7% in the 2nd quarter. Wells Fargo & Company MN now owns 4,009,741 shares of the basic materials company’s stock valued at $907,685,000 after acquiring an additional 66,225 shares during the period. Northern Trust Corp raised its stake in Air Products & Chemicals by 0.3% in the 2nd quarter. Northern Trust Corp now owns 3,271,182 shares of the basic materials company’s stock valued at $740,498,000 after acquiring an additional 9,084 shares during the period. Finally, Invesco Ltd. increased its position in shares of Air Products & Chemicals by 2.6% during the second quarter. Invesco Ltd. now owns 2,107,983 shares of the basic materials company’s stock valued at $477,183,000 after buying an additional 54,289 shares during the period. Institutional investors own 85.36% of the company’s stock.
APD has been the subject of several recent analyst reports. Deutsche Bank boosted their price objective on Air Products & Chemicals from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Barclays increased their price objective on Air Products & Chemicals from $220.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Credit Suisse Group increased their price objective on Air Products & Chemicals from $221.00 to $238.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Sanford C. Bernstein downgraded Air Products & Chemicals from an “outperform” rating to a “market perform” rating and set a $225.00 target price for the company. in a report on Thursday, July 18th. Finally, KeyCorp upped their target price on Air Products & Chemicals from $220.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $234.14.
Shares of NYSE APD traded up $2.09 during trading on Wednesday, reaching $209.85. The company had a trading volume of 9,123 shares, compared to its average volume of 1,103,605. Air Products & Chemicals, Inc. has a 12-month low of $148.44 and a 12-month high of $232.47. The stock has a market cap of $47.13 billion, a PE ratio of 28.21, a P/E/G ratio of 1.88 and a beta of 0.85. The business’s 50-day moving average is $221.21 and its 200 day moving average is $214.60. The company has a quick ratio of 2.09, a current ratio of 2.28 and a debt-to-equity ratio of 0.28.
Air Products & Chemicals (NYSE:APD) last released its earnings results on Thursday, July 25th. The basic materials company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.03. Air Products & Chemicals had a return on equity of 15.42% and a net margin of 19.14%. The firm had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.32 billion. During the same period in the prior year, the firm posted $1.95 earnings per share. The company’s quarterly revenue was down 1.5% on a year-over-year basis. On average, analysts anticipate that Air Products & Chemicals, Inc. will post 8.24 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 11th. Investors of record on Tuesday, October 1st will be given a dividend of $1.16 per share. The ex-dividend date is Monday, September 30th. This represents a $4.64 annualized dividend and a dividend yield of 2.21%. Air Products & Chemicals’s dividend payout ratio (DPR) is presently 62.28%.
In other Air Products & Chemicals news, CEO Seifi Ghasemi acquired 20,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were bought at an average cost of $227.16 per share, with a total value of $4,543,200.00. Following the completion of the transaction, the chief executive officer now directly owns 453,783 shares of the company’s stock, valued at approximately $103,081,346.28. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.35% of the company’s stock.
About Air Products & Chemicals
Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, 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 refining, chemical, gasification, metals, electronics, manufacturing, food and beverage, magnetic resonance imaging, energy production and refining, and metals.
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