Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by TD Asset Management Inc.

TD Asset Management Inc. reduced its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 18.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 141,399 shares of the basic materials company’s stock after selling 32,525 shares during the period. TD Asset Management Inc. owned 0.06% of Air Products and Chemicals worth $42,117,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in APD. Bank of America Corp DE boosted its position in shares of Air Products and Chemicals by 13.5% in the second quarter. Bank of America Corp DE now owns 9,581,433 shares of the basic materials company’s stock worth $2,313,533,000 after acquiring an additional 1,141,241 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of Air Products and Chemicals by 142.4% in the second quarter. Bessemer Group Inc. now owns 1,005,425 shares of the basic materials company’s stock worth $242,770,000 after acquiring an additional 590,644 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Air Products and Chemicals by 109.1% in the third quarter. First Trust Advisors LP now owns 707,704 shares of the basic materials company’s stock worth $210,797,000 after acquiring an additional 369,326 shares during the last quarter. CI Investments Inc. boosted its position in shares of Air Products and Chemicals by 1,850.7% in the third quarter. CI Investments Inc. now owns 260,756 shares of the basic materials company’s stock worth $77,669,000 after acquiring an additional 247,389 shares during the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of Air Products and Chemicals by 109.1% in the second quarter. Nordea Investment Management AB now owns 424,490 shares of the basic materials company’s stock worth $100,770,000 after acquiring an additional 221,463 shares during the last quarter. 79.57% of the stock is currently owned by institutional investors.

APD opened at $270.48 on Friday. The firm has a market capitalization of $59.75 billion, a P/E ratio of 31.86, a P/E/G ratio of 3.37 and a beta of 0.86. The firm’s 50 day moving average is $289.99 and its 200-day moving average is $273.13. Air Products and Chemicals, Inc. has a 52-week low of $167.43 and a 52-week high of $327.89. The company has a quick ratio of 3.43, a current ratio of 3.59 and a debt-to-equity ratio of 0.60.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings results on Monday, November 16th. The basic materials company reported $2.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.21 by ($0.02). The company had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.27 billion. Air Products and Chemicals had a return on equity of 15.48% and a net margin of 21.30%. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.27 EPS. Equities analysts expect that Air Products and Chemicals, Inc. will post 9.12 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, February 8th. Investors of record on Monday, January 4th will be paid a $1.34 dividend. The ex-dividend date of this dividend is Thursday, December 31st. This represents a $5.36 dividend on an annualized basis and a dividend yield of 1.98%. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 63.96%.

APD has been the topic of several research analyst reports. JPMorgan Chase & Co. cut shares of Air Products and Chemicals from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $310.00 to $280.00 in a research report on Thursday, November 12th. Evercore ISI began coverage on shares of Air Products and Chemicals in a research report on Monday, September 21st. They set an “outperform” rating on the stock. BMO Capital Markets reduced their price target on shares of Air Products and Chemicals from $364.00 to $340.00 and set an “outperform” rating on the stock in a research report on Thursday, November 12th. Wells Fargo & Company reduced their price target on shares of Air Products and Chemicals from $340.00 to $320.00 and set an “overweight” rating on the stock in a research report on Thursday, November 12th. Finally, Credit Suisse Group reduced their price target on shares of Air Products and Chemicals from $317.00 to $305.00 and set an “outperform” rating on the stock in a research report on Thursday, November 12th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Air Products and Chemicals has a consensus rating of “Buy” and a consensus target price of $287.87.

Air Products and 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.

Further Reading: Quiet Period Expirations Explained

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

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