Cooper Haims Advisors LLC lessened its holdings in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 49.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,018 shares of the basic materials company’s stock after selling 1,000 shares during the quarter. Cooper Haims Advisors LLC’s holdings in Air Products & Chemicals were worth $230,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the company. Truvestments Capital LLC purchased a new position in Air Products & Chemicals in the 1st quarter worth approximately $79,000. Bfsg LLC purchased a new position in Air Products & Chemicals in the 1st quarter worth approximately $605,000. Ropes Wealth Advisors LLC increased its stake in Air Products & Chemicals by 6.2% in the 1st quarter. Ropes Wealth Advisors LLC now owns 18,581 shares of the basic materials company’s stock worth $3,548,000 after purchasing an additional 1,080 shares during the period. Family Firm Inc. purchased a new position in Air Products & Chemicals in the 1st quarter worth approximately $201,000. Finally, PagnatoKarp Partners LLC increased its stake in Air Products & Chemicals by 45.7% in the 1st quarter. PagnatoKarp Partners LLC now owns 3,270 shares of the basic materials company’s stock worth $628,000 after purchasing an additional 1,026 shares during the period. Hedge funds and other institutional investors own 86.86% of the company’s stock.
APD opened at $221.42 on Wednesday. The company has a quick ratio of 2.09, a current ratio of 2.28 and a debt-to-equity ratio of 0.28. Air Products & Chemicals, Inc. has a 52-week low of $148.44 and a 52-week high of $232.47. The stock has a market capitalization of $49.10 billion, a PE ratio of 29.72, a PEG ratio of 2.23 and a beta of 0.84. The company’s 50 day simple moving average is $226.08.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 11th. Stockholders of record on Tuesday, October 1st will be paid a dividend of $1.16 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $4.64 annualized dividend and a dividend yield of 2.10%. Air Products & Chemicals’s dividend payout ratio (DPR) is presently 62.28%.
In other Air Products & Chemicals news, CEO Seifi Ghasemi bought 20,000 shares of Air Products & Chemicals stock in a transaction dated Friday, July 26th. The shares were purchased at an average cost of $227.16 per share, with a total value of $4,543,200.00. Following the completion of the purchase, the chief executive officer now owns 453,783 shares of the company’s stock, valued at $103,081,346.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Russell A. Flugel sold 2,970 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $207.01, for a total value of $614,819.70. Following the transaction, the vice president now directly owns 6,387 shares in the company, valued at $1,322,172.87. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by insiders.
A number of brokerages have commented on APD. Zacks Investment Research cut Air Products & Chemicals from a “hold” rating to a “sell” rating in a research note on Tuesday, April 23rd. UBS Group cut Air Products & Chemicals from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $224.00 to $240.00 in a research note on Thursday, July 11th. Citigroup set a $260.00 price target on Air Products & Chemicals and gave the stock a “buy” rating in a research note on Monday, July 15th. Sanford C. Bernstein cut Air Products & Chemicals from an “outperform” rating to a “market perform” rating and set a $225.00 price target on the stock. in a research note on Thursday, July 18th. Finally, HSBC cut Air Products & Chemicals from a “buy” rating to a “hold” rating and decreased their price target for the stock from $217.00 to $215.00 in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $233.77.
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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