Virtus ETF Advisers LLC Makes New $3.19 Million Investment in Air Products & Chemicals, Inc. (NYSE:APD)

Virtus ETF Advisers LLC bought a new position in Air Products & Chemicals, Inc. (NYSE:APD) in the second quarter, Holdings Channel.com reports. The institutional investor bought 14,082 shares of the basic materials company’s stock, valued at approximately $3,188,000. Air Products & Chemicals accounts for approximately 0.7% of Virtus ETF Advisers LLC’s portfolio, making the stock its 23rd largest holding.

A number of other institutional investors have also recently made changes to their positions in APD. IMA Wealth Inc. boosted its position in Air Products & Chemicals by 285.7% in the 1st quarter. IMA Wealth Inc. now owns 135 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 100 shares in the last quarter. Krane Funds Advisors LLC purchased a new stake in Air Products & Chemicals in the 2nd quarter worth approximately $26,000. Advisory Alpha LLC purchased a new stake in Air Products & Chemicals in the 1st quarter worth approximately $29,000. Squar Milner Financial Services LLC boosted its position 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 worth $30,000 after purchasing an additional 61 shares in the last quarter. Finally, Meridian Wealth Management LLC purchased a new stake in Air Products & Chemicals in the 2nd quarter worth approximately $43,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Several equities research analysts have commented on APD shares. Barclays upped their price objective on Air Products & Chemicals from $220.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Sanford C. Bernstein lowered Air Products & Chemicals from an “outperform” rating to a “market perform” rating and set a $225.00 price objective on the stock. in a research report on Thursday, July 18th. KeyCorp upped their price objective on Air Products & Chemicals from $220.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Deutsche Bank upped their price objective on Air Products & Chemicals from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, 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 report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $234.71.



NYSE:APD traded up $4.33 during trading hours on Thursday, hitting $220.67. The company had a trading volume of 1,203,492 shares, compared to its average volume of 1,129,729. The company has a current ratio of 2.28, a quick ratio of 2.09 and a debt-to-equity ratio of 0.28. The company has a 50-day moving average of $225.55 and a 200 day moving average of $209.86. The company has a market cap of $47.68 billion, a P/E ratio of 29.62, a P/E/G ratio of 2.16 and a beta of 0.86. Air Products & Chemicals, Inc. has a 1 year low of $148.44 and a 1 year high of $232.47.

Air Products & Chemicals (NYSE:APD) last issued its earnings results on Thursday, July 25th. The basic materials company reported $2.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.14 by $0.03. The company had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.32 billion. Air Products & Chemicals had a return on equity of 15.42% and a net margin of 19.14%. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.95 EPS. On average, analysts forecast that Air Products & Chemicals, Inc. will post 8.24 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, November 11th. Shareholders of record on Tuesday, October 1st will be issued a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 2.10%. The ex-dividend date is Monday, September 30th. Air Products & Chemicals’s payout ratio is currently 62.28%.

In related news, CEO Seifi Ghasemi bought 20,000 shares of the company’s stock in a transaction on Friday, July 26th. The stock was bought at an average cost of $227.16 per share, for a total transaction of $4,543,200.00. Following the acquisition, the chief executive officer now directly owns 453,783 shares in the company, valued at $103,081,346.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.35% of the stock is owned by corporate insiders.

About Air Products & Chemicals

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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Institutional Ownership by Quarter for Air Products & Chemicals (NYSE:APD)

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