Brown Advisory Inc. trimmed its position in Air Products & Chemicals, Inc. (NYSE:APD) by 1.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,881 shares of the basic materials company’s stock after selling 827 shares during the quarter. Brown Advisory Inc.’s holdings in Air Products & Chemicals were worth $10,337,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. United Capital Management of KS Inc. acquired a new position in shares of Air Products & Chemicals in the third quarter worth about $629,000. Bridgewater Associates LP acquired a new position in shares of Air Products & Chemicals in the second quarter worth about $513,000. GHP Investment Advisors Inc. boosted its holdings in shares of Air Products & Chemicals by 4.1% in the second quarter. GHP Investment Advisors Inc. now owns 15,329 shares of the basic materials company’s stock worth $2,387,000 after buying an additional 606 shares during the period. Clean Yield Group boosted its holdings in shares of Air Products & Chemicals by 18.9% in the third quarter. Clean Yield Group now owns 2,895 shares of the basic materials company’s stock worth $484,000 after buying an additional 460 shares during the period. Finally, Cadence Capital Management LLC boosted its holdings in shares of Air Products & Chemicals by 10.2% in the second quarter. Cadence Capital Management LLC now owns 32,873 shares of the basic materials company’s stock worth $5,119,000 after buying an additional 3,035 shares during the period. Institutional investors own 86.29% of the company’s stock.
Several brokerages have commented on APD. Sanford C. Bernstein started coverage on shares of Air Products & Chemicals in a report on Monday, September 24th. They issued an “outperform” rating and a $202.00 target price for the company. ValuEngine upgraded shares of Air Products & Chemicals from a “hold” rating to a “buy” rating in a report on Thursday, October 4th. BNP Paribas started coverage on shares of Air Products & Chemicals in a report on Tuesday, October 2nd. They set an “outperform” rating for the company. Zacks Investment Research cut shares of Air Products & Chemicals from a “buy” rating to a “hold” rating in a report on Monday, October 1st. Finally, Vertical Research upgraded shares of Air Products & Chemicals from a “hold” rating to a “buy” rating in a report on Wednesday, August 29th. Fifteen analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average price target of $190.08.
Air Products & Chemicals (NYSE:APD) last posted its quarterly earnings results on Tuesday, November 6th. The basic materials company reported $2.00 EPS for the quarter, topping the consensus estimate of $1.99 by $0.01. The business had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Air Products & Chemicals had a net margin of 16.77% and a return on equity of 15.30%. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period last year, the company posted $1.76 earnings per share. As a group, analysts anticipate that Air Products & Chemicals, Inc. will post 8.19 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, February 11th. Investors of record on Wednesday, January 2nd will be issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Monday, December 31st. Air Products & Chemicals’s dividend payout ratio is currently 59.06%.
In other Air Products & Chemicals news, Chairman Seifi Ghasemi acquired 20,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chairman now owns 408,652 shares in the company, valued at $65,429,271.72. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.37% of the stock is currently owned by company insiders.
About Air Products & Chemicals
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.
Recommended Story: Dividend Aristocrat Index
Want to see what other hedge funds are holding APD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Air Products & Chemicals, Inc. (NYSE:APD).
Receive News & Ratings for Air Products & Chemicals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Air Products & Chemicals and related companies with MarketBeat.com's FREE daily email newsletter.