Watch Point Trust Co Sells 621 Shares of Air Products & Chemicals, Inc. (NYSE:APD)

Watch Point Trust Co cut its holdings in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 7.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,245 shares of the basic materials company’s stock after selling 621 shares during the period. Watch Point Trust Co’s holdings in Air Products & Chemicals were worth $1,640,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in shares of Air Products & Chemicals by 25.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,044,236 shares of the basic materials company’s stock valued at $167,161,000 after acquiring an additional 212,479 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Air Products & Chemicals by 7.6% during the 4th quarter. Geode Capital Management LLC now owns 2,636,556 shares of the basic materials company’s stock valued at $421,179,000 after acquiring an additional 187,347 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Air Products & Chemicals during the 1st quarter valued at approximately $739,000. Retirement Systems of Alabama raised its position in shares of Air Products & Chemicals by 1.1% during the 1st quarter. Retirement Systems of Alabama now owns 102,270 shares of the basic materials company’s stock valued at $19,529,000 after acquiring an additional 1,151 shares in the last quarter. Finally, BTIM Corp. raised its position in shares of Air Products & Chemicals by 0.9% during the 1st quarter. BTIM Corp. now owns 161,569 shares of the basic materials company’s stock valued at $30,853,000 after acquiring an additional 1,430 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

A number of brokerages recently commented on APD. Morgan Stanley upped their price objective on Air Products & Chemicals from $168.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Monday. UBS Group downgraded Air Products & Chemicals from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $224.00 to $240.00 in a research note on Thursday, July 11th. Seaport Global Securities cut Air Products & Chemicals from a “buy” rating to a “neutral” rating in a research note on Friday, July 12th. They noted that the move was a valuation call. Bank of America raised Air Products & Chemicals from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $170.00 to $215.00 in a research note on Thursday, April 25th. Finally, JPMorgan Chase & Co. increased their price target on Air Products & Chemicals from $207.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, June 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $234.71.



Shares of NYSE APD traded up $2.64 during mid-day trading on Thursday, hitting $225.23. 17,435 shares of the company traded hands, compared to its average volume of 1,162,570. Air Products & Chemicals, Inc. has a 1 year low of $148.44 and a 1 year high of $232.47. The firm has a market cap of $49.16 billion, a PE ratio of 30.24, a price-to-earnings-growth ratio of 2.27 and a beta of 0.84. The company has a quick ratio of 2.09, a current ratio of 2.28 and a debt-to-equity ratio of 0.28. The business’s 50 day moving average is $227.01.

Air Products & Chemicals (NYSE:APD) last announced its earnings results on Thursday, July 25th. The basic materials company reported $2.17 EPS for the quarter, beating the consensus estimate 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 business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the prior year, the business posted $1.95 earnings per share. Air Products & Chemicals’s revenue was down 1.5% compared to the same quarter last year. As a group, equities analysts expect that Air Products & Chemicals, Inc. will post 8.24 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, November 11th. Stockholders of record on Tuesday, October 1st will be issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Monday, September 30th. Air Products & Chemicals’s dividend payout ratio is 62.28%.

In other Air Products & Chemicals news, CEO Seifi Ghasemi acquired 20,000 shares of Air Products & Chemicals stock in a transaction that occurred on Friday, July 26th. The stock was purchased at an average cost of $227.16 per share, with a total value of $4,543,200.00. Following the purchase, the chief executive officer now owns 453,783 shares in the company, valued at $103,081,346.28. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Russell A. Flugel sold 2,970 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $207.01, for a total value of $614,819.70. Following the completion of the sale, the vice president now directly owns 6,387 shares of the company’s stock, valued at $1,322,172.87. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

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.

Read More: What are the FAANG Stocks?

Institutional Ownership by Quarter for Air Products & Chemicals (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.