Securian Asset Management Inc boosted its position in Air Products & Chemicals, Inc. (NYSE:APD) by 1.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,269 shares of the basic materials company’s stock after purchasing an additional 281 shares during the quarter. Securian Asset Management Inc’s holdings in Air Products & Chemicals were worth $5,267,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in APD. IMA Wealth Inc. boosted its stake 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 valued at $26,000 after purchasing an additional 100 shares during the period. Field & Main Bank bought a new stake in shares of Air Products & Chemicals during the 1st quarter valued at $27,000. Advisory Alpha LLC bought a new stake in shares of Air Products & Chemicals during the 1st quarter valued at $29,000. Squar Milner Financial Services LLC lifted its position in shares of Air Products & Chemicals by 87.1% during the 2nd quarter. Squar Milner Financial Services LLC now owns 131 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 61 shares during the period. Finally, Destination Wealth Management bought a new stake in shares of Air Products & Chemicals during the 1st quarter valued at $40,000. Institutional investors and hedge funds own 86.52% of the company’s stock.
In other Air Products & Chemicals news, CEO Seifi Ghasemi purchased 20,000 shares of the stock in a transaction dated Friday, July 26th. The stock was bought 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 owns 453,783 shares of the company’s stock, valued at $103,081,346.28. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.35% of the stock is currently owned by insiders.
Air Products & Chemicals (NYSE:APD) last posted its quarterly earnings results on Thursday, July 25th. The basic materials company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter in the previous year, the firm earned $1.95 EPS. Air Products & Chemicals’s revenue was down 1.5% on a year-over-year basis. As a group, equities research analysts predict that Air Products & Chemicals, Inc. will post 8.24 EPS for the current year.
The firm also recently declared 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. The ex-dividend date of this dividend is Monday, September 30th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.04%. Air Products & Chemicals’s dividend payout ratio (DPR) is currently 62.28%.
A number of analysts have recently weighed in on the company. Citigroup set a $260.00 target price on Air Products & Chemicals and gave the company a “buy” rating in a research report on Monday, July 15th. Susquehanna Bancshares reiterated a “neutral” rating on shares of Air Products & Chemicals in a research report on Monday. Monness Crespi & Hardt reiterated a “buy” rating and set a $254.00 target price (up from $214.00) on shares of Air Products & Chemicals in a research report on Friday, July 26th. Morgan Stanley upped their target price on 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. Finally, Sanford C. Bernstein downgraded Air Products & Chemicals from an “outperform” rating to a “market perform” rating and set a $225.00 target price for the company. in a research report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $234.71.
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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