Air Products & Chemicals, Inc. (NYSE:APD) Stake Raised by L & S Advisors Inc

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L & S Advisors Inc boosted its holdings in Air Products & Chemicals, Inc. (NYSE:APD) by 393.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,825 shares of the basic materials company’s stock after acquiring an additional 26,178 shares during the quarter. Air Products & Chemicals comprises about 1.0% of L & S Advisors Inc’s investment portfolio, making the stock its 20th biggest holding. L & S Advisors Inc’s holdings in Air Products & Chemicals were worth $7,431,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Bailard Inc. raised its position in Air Products & Chemicals by 2.0% during the second quarter. Bailard Inc. now owns 2,347 shares of the basic materials company’s stock valued at $531,000 after purchasing an additional 45 shares in the last quarter. Sullivan Bruyette Speros & Blaney LLC raised its position in Air Products & Chemicals by 3.2% during the second quarter. Sullivan Bruyette Speros & Blaney LLC now owns 1,549 shares of the basic materials company’s stock valued at $351,000 after purchasing an additional 48 shares in the last quarter. Trustcore Financial Services LLC raised its position in Air Products & Chemicals by 3.2% during the first quarter. Trustcore Financial Services LLC now owns 1,610 shares of the basic materials company’s stock valued at $307,000 after purchasing an additional 50 shares in the last quarter. Smith Shellnut Wilson LLC ADV raised its position in Air Products & Chemicals by 3.3% during the first quarter. Smith Shellnut Wilson LLC ADV now owns 1,572 shares of the basic materials company’s stock valued at $300,000 after purchasing an additional 50 shares in the last quarter. Finally, Spinnaker Trust raised its position in Air Products & Chemicals by 1.8% during the second quarter. Spinnaker Trust now owns 3,054 shares of the basic materials company’s stock valued at $691,000 after purchasing an additional 54 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

NYSE APD opened at $220.89 on Friday. 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 stock has a market capitalization of $47.11 billion, a PE ratio of 29.65, a PEG ratio of 2.14 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. The business’s 50-day moving average is $225.55 and its 200 day moving average is $209.86.

Air Products & Chemicals (NYSE:APD) last posted its quarterly earnings data on Thursday, July 25th. The basic materials company reported $2.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.14 by $0.03. The business had revenue of $2.22 billion for 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 business’s revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.95 EPS. As a group, equities research analysts anticipate that Air Products & Chemicals, Inc. will post 8.24 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 11th. Shareholders of record on Tuesday, October 1st will be given 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 yield of 2.10%. Air Products & Chemicals’s payout ratio is 62.28%.

APD has been the topic of a number of research reports. Deutsche Bank raised their price target on Air Products & Chemicals from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Citigroup set a $260.00 price objective on Air Products & Chemicals and gave the stock a “buy” rating in a report on Monday, July 15th. Morgan Stanley lifted their price objective on Air Products & Chemicals from $168.00 to $230.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Barclays lifted their price objective on Air Products & Chemicals from $220.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Finally, JPMorgan Chase & Co. lifted their price objective on Air Products & Chemicals from $207.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, June 7th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $234.71.

In other news, CEO Seifi Ghasemi acquired 20,000 shares of the business’s stock in a transaction on Friday, July 26th. The shares were acquired at an average cost of $227.16 per share, with a total value of $4,543,200.00. Following the transaction, the chief executive officer now owns 453,783 shares in the company, valued at approximately $103,081,346.28. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.35% of the company’s stock.

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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