Independence Bank of Kentucky lowered its stake in Air Products & Chemicals, Inc. (NYSE:APD) by 6.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,202 shares of the basic materials company’s stock after selling 80 shares during the period. Independence Bank of Kentucky’s holdings in Air Products & Chemicals were worth $272,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. IMA Wealth Inc. increased its stake in Air Products & Chemicals by 285.7% in the 1st quarter. IMA Wealth Inc. now owns 135 shares of the basic materials company’s stock worth $26,000 after buying an additional 100 shares in the last quarter. Field & Main Bank purchased a new stake in Air Products & Chemicals in the 1st quarter worth $27,000. Advisory Alpha LLC purchased a new stake in Air Products & Chemicals in the 1st quarter worth $29,000. Pinnacle Bank purchased a new stake in Air Products & Chemicals in the 4th quarter worth $38,000. Finally, Destination Wealth Management purchased a new stake in Air Products & Chemicals in the 1st quarter worth $40,000. Institutional investors own 86.96% of the company’s stock.

APD traded up $0.56 on Monday, hitting $231.11. The company had a trading volume of 14,392 shares, compared to its average volume of 921,132. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.09 and a current ratio of 2.28. The firm has a market cap of $50.80 billion, a P/E ratio of 31.06, a PEG ratio of 2.29 and a beta of 0.83. Air Products & Chemicals, Inc. has a 12-month low of $148.44 and a 12-month high of $231.45. The company’s fifty day moving average is $224.80.

Air Products & Chemicals (NYSE:APD) last announced its quarterly earnings data on Thursday, July 25th. The basic materials company reported $2.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.14 by $0.03. The business had revenue of $2.22 billion during the quarter, compared to the consensus estimate 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 quarter last year, the firm earned $1.95 earnings per share. On average, sell-side analysts anticipate that Air Products & Chemicals, Inc. will post 8.23 EPS 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 paid a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Monday, September 30th. Air Products & Chemicals’s payout ratio is currently 62.28%.

In other news, CEO Seifi Ghasemi acquired 20,000 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was acquired at an average price of $227.16 per share, with a total value of $4,543,200.00. Following the completion of the purchase, the chief executive officer now directly owns 453,783 shares in the company, valued at $103,081,346.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Russell A. Flugel sold 2,970 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $207.01, for a total transaction of $614,819.70. Following the completion of the sale, the vice president now directly 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 owned by company insiders.

APD has been the subject of a number of analyst reports. KeyCorp lowered Steris from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, July 9th. They noted that the move was a valuation call. JPMorgan Chase & Co. raised 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. Seaport Global Securities lowered Packaging Corp Of America from a “buy” rating to a “neutral” rating and set a $98.02 price objective for the company. in a research report on Friday, July 12th. They noted that the move was a valuation call. Zacks Investment Research lowered Guaranty Federal Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, April 23rd. Finally, BMO Capital Markets raised 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. 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 stock. The stock currently has a consensus rating of “Buy” and an average price target of $233.77.

Air Products & Chemicals Company 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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