Signet Financial Management LLC Sells 2,326 Shares of Air Products & Chemicals, Inc. (NYSE:APD)

Signet Financial Management LLC reduced its holdings in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 10.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,090 shares of the basic materials company’s stock after selling 2,326 shares during the quarter. Signet Financial Management LLC’s holdings in Air Products & Chemicals were worth $4,632,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nordea Investment Management AB increased its position in Air Products & Chemicals by 358.5% during the first quarter. Nordea Investment Management AB now owns 405,635 shares of the basic materials company’s stock worth $77,462,000 after buying an additional 317,174 shares during the last quarter. Bahl & Gaynor Inc. lifted its holdings in shares of Air Products & Chemicals by 18.6% during the second quarter. Bahl & Gaynor Inc. now owns 1,557,160 shares of the basic materials company’s stock worth $352,494,000 after buying an additional 244,100 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Air Products & Chemicals by 71.7% in the second quarter. First Trust Advisors LP now owns 527,192 shares of the basic materials company’s stock valued at $119,340,000 after acquiring an additional 220,088 shares during the period. Cibc World Markets Corp boosted its position in shares of Air Products & Chemicals by 247.7% in the second quarter. Cibc World Markets Corp now owns 280,567 shares of the basic materials company’s stock valued at $63,512,000 after acquiring an additional 199,880 shares during the period. Finally, King Luther Capital Management Corp grew its stake in shares of Air Products & Chemicals by 30.2% in the first quarter. King Luther Capital Management Corp now owns 854,276 shares of the basic materials company’s stock valued at $163,133,000 after acquiring an additional 197,958 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

In other news, CEO Seifi Ghasemi acquired 20,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were 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 directly owns 453,783 shares in the company, valued at approximately $103,081,346.28. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.35% of the stock is currently owned by corporate insiders.

Shares of APD stock traded up $1.79 on Wednesday, hitting $215.57. 80,303 shares of the company’s stock were exchanged, compared to its average volume of 794,502. The company has a 50 day moving average of $225.81 and a 200 day moving average of $209.69. The stock has a market cap of $47.68 billion, a P/E ratio of 28.96, a price-to-earnings-growth ratio of 2.16 and a beta of 0.86. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.28 and a quick ratio of 2.09. 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 released its quarterly earnings data on Thursday, July 25th. The basic materials company reported $2.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.14 by $0.03. The business 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 firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.95 EPS. Sell-side analysts predict that Air Products & Chemicals, Inc. will post 8.24 EPS for the current fiscal year.

The business 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 is Monday, September 30th. This represents a $4.64 annualized dividend and a dividend yield of 2.15%. Air Products & Chemicals’s dividend payout ratio (DPR) is presently 62.28%.

A number of equities analysts recently commented on APD shares. Seaport Global Securities lowered shares of Air Products & Chemicals from a “buy” rating to a “neutral” rating in a research report on Friday, July 12th. They noted that the move was a valuation call. Deutsche Bank lifted their price target on shares of Air Products & Chemicals from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, July 26th. HSBC cut Air Products & Chemicals from a “buy” rating to a “hold” rating and cut their price target for the company from $217.00 to $215.00 in a research note on Thursday, August 1st. Morgan Stanley increased their price target on Air Products & Chemicals from $168.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Finally, UBS Group lowered Air Products & Chemicals from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $224.00 to $240.00 in a research note on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. Air Products & Chemicals currently has an average rating of “Hold” and a consensus target price 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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Institutional Ownership by Quarter for Air Products & Chemicals (NYSE:APD)

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