Air Products and Chemicals, Inc. $APD Shares Sold by Ledyard National Bank

Ledyard National Bank cut its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 9.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,004 shares of the basic materials company’s stock after selling 101 shares during the quarter. Ledyard National Bank’s holdings in Air Products and Chemicals were worth $283,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Dodge & Cox boosted its position in shares of Air Products and Chemicals by 31.5% in the first quarter. Dodge & Cox now owns 8,759,722 shares of the basic materials company’s stock worth $2,583,417,000 after buying an additional 2,096,568 shares during the period. Raymond James Financial Inc. boosted its position in shares of Air Products and Chemicals by 1.4% in the first quarter. Raymond James Financial Inc. now owns 3,096,277 shares of the basic materials company’s stock worth $913,154,000 after buying an additional 43,695 shares during the period. Principal Financial Group Inc. boosted its position in shares of Air Products and Chemicals by 159.2% in the first quarter. Principal Financial Group Inc. now owns 1,725,762 shares of the basic materials company’s stock worth $508,962,000 after buying an additional 1,059,970 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Air Products and Chemicals by 110.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,441,752 shares of the basic materials company’s stock worth $425,202,000 after buying an additional 756,780 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Air Products and Chemicals by 1.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,307,807 shares of the basic materials company’s stock worth $385,698,000 after buying an additional 19,237 shares during the period. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Trading Down 1.6%

NYSE:APD opened at $244.46 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.29 and a debt-to-equity ratio of 0.93. The business’s 50 day moving average is $274.81 and its two-hundred day moving average is $278.79. Air Products and Chemicals, Inc. has a 52 week low of $243.69 and a 52 week high of $341.14. The company has a market cap of $54.41 billion, a PE ratio of 35.17, a P/E/G ratio of 5.16 and a beta of 0.83.

Air Products and Chemicals (NYSE:APD) last released its earnings results on Thursday, July 31st. The basic materials company reported $3.09 EPS for the quarter, topping analysts’ consensus estimates of $2.99 by $0.10. Air Products and Chemicals had a return on equity of 15.11% and a net margin of 12.86%.The company had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter last year, the business posted $3.20 EPS. Air Products and Chemicals’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, analysts predict that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Insider Buying and Selling

In other Air Products and Chemicals news, VP Victoria Brifo sold 1,359 shares of Air Products and Chemicals stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $292.38, for a total value of $397,344.42. Following the completion of the transaction, the vice president directly owned 8,686 shares in the company, valued at $2,539,612.68. The trade was a 13.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.41% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on APD shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Air Products and Chemicals in a research report on Wednesday, October 8th. The Goldman Sachs Group set a $335.00 target price on Air Products and Chemicals in a research note on Wednesday, October 1st. Wells Fargo & Company raised their target price on Air Products and Chemicals from $320.00 to $345.00 and gave the company an “overweight” rating in a research note on Monday, July 14th. Wall Street Zen upgraded Air Products and Chemicals from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Finally, UBS Group lowered their price objective on Air Products and Chemicals from $354.00 to $350.00 and set a “buy” rating for the company in a research note on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Air Products and Chemicals presently has an average rating of “Moderate Buy” and a consensus price target of $330.00.

Air Products and Chemicals Profile

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and related services in the Americas, Asia, Europe, the Middle East, India, and internationally. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, and syngas; and specialty gases for customers in various industries, including refining, chemical, manufacturing, electronics, energy production, medical, food, and metals.