Air Products & Chemicals, Inc. (NYSE:APD) Shares Sold by Calamos Advisors LLC

Calamos Advisors LLC trimmed its holdings in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 31.8% in the third quarter, Holdings Channel reports. The firm owned 187,328 shares of the basic materials company’s stock after selling 87,298 shares during the period. Calamos Advisors LLC’s holdings in Air Products & Chemicals were worth $41,561,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. KAMES CAPITAL plc increased its position in shares of Air Products & Chemicals by 17.1% during the 3rd quarter. KAMES CAPITAL plc now owns 158,726 shares of the basic materials company’s stock worth $35,203,000 after purchasing an additional 23,171 shares during the last quarter. Mechanics Bank Trust Department acquired a new stake in Air Products & Chemicals in the 3rd quarter valued at about $434,000. Country Club Trust Company n.a. raised its holdings in Air Products & Chemicals by 7.1% in the 3rd quarter. Country Club Trust Company n.a. now owns 1,056 shares of the basic materials company’s stock valued at $234,000 after acquiring an additional 70 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Air Products & Chemicals by 2.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,957 shares of the basic materials company’s stock valued at $11,749,000 after acquiring an additional 1,131 shares during the period. Finally, Coastal Investment Advisors Inc. bought a new position in Air Products & Chemicals in the 3rd quarter valued at about $116,000. 85.40% of the stock is owned by hedge funds and other institutional investors.

APD traded down $0.63 during trading on Monday, hitting $214.25. 15,790 shares of the stock traded hands, compared to its average volume of 773,715. The firm has a market capitalization of $47.24 billion, a P/E ratio of 28.75, a price-to-earnings-growth ratio of 1.89 and a beta of 0.85. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.28 and a quick ratio of 2.09. The firm has a 50-day moving average of $219.40 and a 200 day moving average of $215.99. Air Products & Chemicals, Inc. has a 12-month low of $148.44 and a 12-month high of $232.47.

Air Products & Chemicals (NYSE:APD) last posted its earnings results on Thursday, July 25th. The basic materials company reported $2.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.14 by $0.03. The firm had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.32 billion. Air Products & Chemicals had a net margin of 19.14% and a return on equity of 15.42%. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period last year, the company posted $1.95 EPS. As a group, equities analysts predict that Air Products & Chemicals, Inc. will post 8.24 EPS for the current fiscal year.

Several research analysts have recently commented on APD shares. Monness Crespi & Hardt reaffirmed a “buy” rating and set a $254.00 target price (up from $214.00) on shares of Air Products & Chemicals in a report on Friday, July 26th. Credit Suisse Group increased their price target on shares of Air Products & Chemicals from $221.00 to $238.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. HSBC lowered shares of Air Products & Chemicals from a “buy” rating to a “hold” rating and reduced their price target for the stock from $217.00 to $215.00 in a research report on Thursday, August 1st. Citigroup set a $260.00 target price on shares of Air Products & Chemicals and gave the company a “buy” rating in a research report on Monday, July 15th. Finally, Morgan Stanley raised their target price on shares of Air Products & Chemicals from $168.00 to $230.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $234.53.

In related news, CEO Seifi Ghasemi purchased 20,000 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were purchased at an average price of $227.16 per share, with a total value of $4,543,200.00. Following the acquisition, the chief executive officer now directly owns 453,783 shares in the company, valued at approximately $103,081,346.28. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.35% of the stock is currently owned by company insiders.

Air Products & Chemicals Company 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.

Further Reading: Momentum Investing

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

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