SeaTown Holdings Pte. Ltd. Sells 63,000 Shares of Air Products & Chemicals, Inc. (NYSE:APD)

SeaTown Holdings Pte. Ltd. decreased its stake in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 56.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,000 shares of the basic materials company’s stock after selling 63,000 shares during the period. Air Products & Chemicals makes up 2.0% of SeaTown Holdings Pte. Ltd.’s investment portfolio, making the stock its 18th largest holding. SeaTown Holdings Pte. Ltd.’s holdings in Air Products & Chemicals were worth $10,866,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bailard Inc. boosted its stake 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 worth $531,000 after acquiring an additional 45 shares in the last quarter. Evermay Wealth Management LLC raised its holdings in Air Products & Chemicals by 3.5% in the first quarter. Evermay Wealth Management LLC now owns 1,472 shares of the basic materials company’s stock worth $281,000 after buying an additional 50 shares during the last quarter. Trustcore Financial Services LLC raised its holdings in Air Products & Chemicals by 3.2% in the first quarter. Trustcore Financial Services LLC now owns 1,610 shares of the basic materials company’s stock worth $307,000 after buying an additional 50 shares during the last quarter. Smith Shellnut Wilson LLC ADV raised its holdings in Air Products & Chemicals by 3.3% in the first quarter. Smith Shellnut Wilson LLC ADV now owns 1,572 shares of the basic materials company’s stock worth $300,000 after buying an additional 50 shares during the last quarter. Finally, Canandaigua National Bank & Trust Co. raised its holdings in Air Products & Chemicals by 2.3% in the first quarter. Canandaigua National Bank & Trust Co. now owns 2,394 shares of the basic materials company’s stock worth $457,000 after buying an additional 53 shares during the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have issued reports on APD shares. Seaport Global Securities cut shares of Air Products & Chemicals from a “buy” rating to a “neutral” rating in a report on Friday, July 12th. They noted that the move was a valuation call. Sanford C. Bernstein cut shares of Air Products & Chemicals from an “outperform” rating to a “market perform” rating and set a $225.00 price objective for the company. in a report on Thursday, July 18th. JPMorgan Chase & Co. boosted their price objective on shares of Air Products & Chemicals from $207.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, June 7th. Morgan Stanley boosted their price objective on shares of Air Products & Chemicals from $168.00 to $230.00 and gave the company an “equal weight” rating in a report on Monday. Finally, Zacks Investment Research cut shares of Air Products & Chemicals from a “hold” rating to a “sell” rating in a report on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $234.71.

Shares of APD traded up $2.70 during mid-day trading on Tuesday, reaching $229.83. The stock had a trading volume of 515,270 shares, compared to its average volume of 1,152,326. The firm has a market capitalization of $50.05 billion, a price-to-earnings ratio of 30.85, a price-to-earnings-growth ratio of 2.30 and a beta of 0.84. Air Products & Chemicals, Inc. has a 12 month low of $148.44 and a 12 month high of $232.47. The business’s fifty day moving average price is $226.92. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.09 and a current ratio of 2.28.

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

The business also recently announced a quarterly dividend, which will be paid on Monday, November 11th. Investors 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 dividend on an annualized basis and a dividend yield of 2.02%. Air Products & Chemicals’s dividend payout ratio is 62.28%.

In related news, CEO Seifi Ghasemi bought 20,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was purchased at an average price of $227.16 per share, for a total transaction of $4,543,200.00. Following the completion of the transaction, the chief executive officer now owns 453,783 shares in the company, valued at $103,081,346.28. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Russell A. Flugel sold 2,970 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $207.01, for a total transaction of $614,819.70. Following the transaction, the vice president now owns 6,387 shares of the company’s stock, valued at approximately $1,322,172.87. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by corporate insiders.

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

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