BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its holdings in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 21.6% in the first quarter, HoldingsChannel.com reports. The firm owned 60,230 shares of the basic materials company’s stock after selling 16,607 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Air Products & Chemicals were worth $11,502,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of APD. Field & Main Bank acquired a new position in shares of Air Products & Chemicals in the first quarter worth about $27,000. Athena Capital Advisors LLC acquired a new position in shares of Air Products & Chemicals in the fourth quarter worth about $28,000. Old North State Trust LLC raised its position in shares of Air Products & Chemicals by 376.1% in the fourth quarter. Old North State Trust LLC now owns 219 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 173 shares during the period. Pinnacle Bank acquired a new position in shares of Air Products & Chemicals in the fourth quarter worth about $38,000. Finally, Transamerica Financial Advisors Inc. raised its position in shares of Air Products & Chemicals by 617.6% in the fourth quarter. Transamerica Financial Advisors Inc. now owns 244 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 210 shares during the period. Institutional investors own 87.41% of the company’s stock.
A number of brokerages have weighed in on APD. Credit Suisse Group upped their price objective on shares of Air Products & Chemicals from $200.00 to $222.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 17th. Deutsche Bank upped their price objective on shares of Air Products & Chemicals from $182.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Zacks Investment Research downgraded shares of Air Products & Chemicals from a “hold” rating to a “sell” rating in a research report on Tuesday, April 23rd. Bank of America upgraded shares of Air Products & Chemicals from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $170.00 to $215.00 in a research report on Thursday, April 25th. Finally, Vertical Research downgraded shares of Air Products & Chemicals from a “buy” rating to a “hold” rating in a research report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $211.50.
APD stock opened at $206.26 on Thursday. The stock has a market cap of $46.21 billion, a PE ratio of 27.69, a P/E/G ratio of 2.17 and a beta of 0.83. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.36 and a quick ratio of 2.16. Air Products & Chemicals, Inc. has a 52 week low of $148.44 and a 52 week high of $210.15.
Air Products & Chemicals (NYSE:APD) last released its earnings results on Wednesday, April 24th. The basic materials company reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.04. The business had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.23 billion. Air Products & Chemicals had a net margin of 18.90% and a return on equity of 15.28%. The company’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.71 earnings per share. As a group, equities analysts anticipate that Air Products & Chemicals, Inc. will post 8.22 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 12th. Stockholders of record on Monday, July 1st will be paid a dividend of $1.16 per share. The ex-dividend date is Friday, June 28th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.25%. Air Products & Chemicals’s dividend payout ratio is currently 62.28%.
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 completion of the sale, the vice president now owns 6,387 shares of the company’s stock, valued at $1,322,172.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.35% of the stock is owned by insiders.
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Air Products & Chemicals 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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