Air Products & Chemicals, Inc. (NYSE:APD) Shares Bought by Perennial Advisors LLC
Perennial Advisors LLC raised its stake in Air Products & Chemicals, Inc. (NYSE:APD) by 2.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,939 shares of the basic materials company’s stock after acquiring an additional 337 shares during the quarter. Air Products & Chemicals makes up 1.8% of Perennial Advisors LLC’s portfolio, making the stock its 24th biggest holding. Perennial Advisors LLC’s holdings in Air Products & Chemicals were worth $3,382,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new position in shares of Air Products & Chemicals in the first quarter worth $79,000. Bfsg LLC acquired a new position in shares of Air Products & Chemicals in the first quarter worth $605,000. Ropes Wealth Advisors LLC grew its position in shares of Air Products & Chemicals by 6.2% in the first quarter. Ropes Wealth Advisors LLC now owns 18,581 shares of the basic materials company’s stock valued at $3,548,000 after purchasing an additional 1,080 shares during the period. Family Firm Inc. purchased a new stake in shares of Air Products & Chemicals in the first quarter valued at $201,000. Finally, PagnatoKarp Partners LLC grew its position in shares of Air Products & Chemicals by 45.7% in the first quarter. PagnatoKarp Partners LLC now owns 3,270 shares of the basic materials company’s stock valued at $628,000 after purchasing an additional 1,026 shares during the period. 86.96% of the stock is owned by institutional investors.
In other news, VP Russell A. Flugel sold 2,970 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $207.01, for a total value of $614,819.70. Following the completion of the sale, the vice president now owns 6,387 shares of the company’s stock, valued at $1,322,172.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Seifi Ghasemi bought 20,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was bought 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 directly owns 453,783 shares of the company’s stock, valued at $103,081,346.28. The disclosure for this purchase can be found here. 0.35% of the stock is currently owned by insiders.
Air Products & Chemicals (NYSE:APD) last posted its quarterly earnings results on Thursday, July 25th. The basic materials company reported $2.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.14 by $0.03. Air Products & Chemicals had a return on equity of 15.42% and a net margin of 19.14%. The firm had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the previous year, the business earned $1.95 earnings per share. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. Equities research analysts anticipate that Air Products & Chemicals, Inc. will post 8.23 EPS for the current year.
The company also recently declared 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. This represents a $4.64 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Monday, September 30th. Air Products & Chemicals’s dividend payout ratio (DPR) is presently 62.28%.
A number of brokerages have recently commented on APD. Sanford C. Bernstein reaffirmed a “sell” rating on shares of Linde in a research report on Thursday, July 18th. Deutsche Bank set a $129.00 price objective on Proofpoint and gave the company a “hold” rating in a research report on Friday. BMO Capital Markets lifted their price objective on Air Products & Chemicals to $235.00 and gave the company an “outperform” rating in a research report on Monday, May 13th. UBS Group lifted their price objective on LyondellBasell Industries from $86.00 to $89.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Finally, JPMorgan Chase & Co. lifted their price objective on Diageo from GBX 3,100 ($40.51) to GBX 3,200 ($41.81) and gave the company a “neutral” rating in a research report on Friday, June 7th. One analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price 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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