SeaTown Holdings Pte. Ltd. trimmed its position in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 56.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 48,000 shares of the basic materials company’s stock after selling 63,000 shares during the period. Air Products & Chemicals comprises approximately 2.0% of SeaTown Holdings Pte. Ltd.’s portfolio, making the stock its 18th biggest holding. SeaTown Holdings Pte. Ltd.’s holdings in Air Products & Chemicals were worth $10,866,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently bought and sold shares of the company. IMA Wealth Inc. increased its holdings in shares of Air Products & Chemicals by 285.7% during the 1st quarter. IMA Wealth Inc. now owns 135 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 100 shares in the last quarter. Field & Main Bank acquired a new stake in Air Products & Chemicals in the 1st quarter valued at $27,000. Advisory Alpha LLC acquired a new stake in Air Products & Chemicals in the 1st quarter valued at $29,000. Squar Milner Financial Services LLC grew its stake in Air Products & Chemicals by 87.1% in the 2nd quarter. Squar Milner Financial Services LLC now owns 131 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 61 shares during the period. Finally, Destination Wealth Management acquired a new stake in Air Products & Chemicals in the 1st quarter valued at $40,000. 86.81% of the stock is owned by hedge funds and other institutional investors.
APD traded up $2.70 on Tuesday, hitting $229.83. 515,270 shares of the company’s stock were exchanged, compared to its average volume of 1,152,326. Air Products & Chemicals, Inc. has a fifty-two week low of $148.44 and a fifty-two week high of $232.47. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.09 and a current ratio of 2.28. The firm’s 50-day simple moving average is $226.92. The company has a market capitalization of $50.05 billion, a PE ratio of 30.85, a price-to-earnings-growth ratio of 2.30 and a beta of 0.84.
Air Products & Chemicals (NYSE:APD) last announced its earnings results on Thursday, July 25th. The basic materials company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.03. Air Products & Chemicals had a net margin of 19.14% and a return on equity of 15.42%. The company had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter in the previous year, the company posted $1.95 EPS. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. As a group, equities research analysts forecast that Air Products & Chemicals, Inc. will post 8.24 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 11th. Shareholders of record on Tuesday, October 1st will be paid a dividend of $1.16 per share. The ex-dividend date is Monday, September 30th. This represents a $4.64 annualized dividend and a yield of 2.02%. Air Products & Chemicals’s dividend payout ratio (DPR) is presently 62.28%.
A number of equities research analysts recently issued reports on APD shares. Vertical Research cut shares of Air Products & Chemicals from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. Citigroup set a $260.00 price target on shares of Air Products & Chemicals and gave the company a “buy” rating in a research note on Monday, July 15th. Zacks Investment Research cut shares of Air Products & Chemicals from a “hold” rating to a “sell” rating in a research note on Tuesday, April 23rd. Credit Suisse Group lifted their price target on shares of Air Products & Chemicals from $221.00 to $238.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Finally, Monness Crespi & Hardt reissued a “buy” rating and issued a $254.00 price target (up previously from $214.00) on shares of Air Products & Chemicals in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $234.71.
In other news, VP Russell A. Flugel sold 2,970 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $207.01, for a total transaction of $614,819.70. Following the transaction, the vice president now owns 6,387 shares of the company’s stock, valued at approximately $1,322,172.87. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Seifi Ghasemi purchased 20,000 shares of the stock in a transaction dated Friday, July 26th. The shares were purchased at an average cost of $227.16 per share, for a total transaction of $4,543,200.00. Following the transaction, the chief executive officer now owns 453,783 shares in the company, valued at approximately $103,081,346.28. The disclosure for this purchase can be found here. Insiders own 0.35% of the company’s stock.
Air Products & Chemicals Company Profile
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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