Middleton & Co Inc MA Sells 164 Shares of Air Products & Chemicals, Inc. (NYSE:APD)

Middleton & Co Inc MA lowered its stake in Air Products & Chemicals, Inc. (NYSE:APD) by 3.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,515 shares of the basic materials company’s stock after selling 164 shares during the period. Middleton & Co Inc MA’s holdings in Air Products & Chemicals were worth $1,022,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Arizona State Retirement System boosted its holdings in Air Products & Chemicals by 12.2% in the second quarter. Arizona State Retirement System now owns 66,432 shares of the basic materials company’s stock valued at $15,038,000 after acquiring an additional 7,236 shares in the last quarter. Squar Milner Financial Services LLC boosted its holdings in shares of Air Products & Chemicals by 87.1% during the 2nd quarter. Squar Milner Financial Services LLC now owns 131 shares of the basic materials company’s stock valued at $30,000 after buying an additional 61 shares in the last quarter. RNC Capital Management LLC boosted its holdings in shares of Air Products & Chemicals by 33.5% during the 2nd quarter. RNC Capital Management LLC now owns 1,520 shares of the basic materials company’s stock valued at $344,000 after buying an additional 381 shares in the last quarter. Brookstone Capital Management boosted its holdings in shares of Air Products & Chemicals by 1.7% during the 2nd quarter. Brookstone Capital Management now owns 3,338 shares of the basic materials company’s stock valued at $756,000 after buying an additional 55 shares in the last quarter. Finally, Busey Wealth Management bought a new stake in shares of Air Products & Chemicals during the 2nd quarter valued at $202,000. Institutional investors and hedge funds own 86.86% of the company’s stock.

In other Air Products & Chemicals news, CEO Seifi Ghasemi purchased 20,000 shares of Air Products & Chemicals stock in a transaction dated Friday, July 26th. The stock was purchased at an average price 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 purchase was disclosed in a document filed with the SEC, which is available through this link. Also, VP Russell A. Flugel sold 2,970 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $207.01, for a total transaction of $614,819.70. Following 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. Insiders own 0.35% of the company’s stock.

A number of analysts have recently commented on the stock. HSBC cut shares of Air Products & Chemicals from a “buy” rating to a “hold” rating and dropped their target price for the company from $217.00 to $215.00 in a report on Thursday. Monness Crespi & Hardt restated a “buy” rating and set a $254.00 target price (up previously from $214.00) on shares of Air Products & Chemicals in a report on Friday, July 26th. KeyCorp boosted their target price on shares of Air Products & Chemicals from $220.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Vertical Research cut shares of Air Products & Chemicals from a “buy” rating to a “hold” rating in a report on Thursday, April 25th. Finally, 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. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $233.77.

Shares of Air Products & Chemicals stock opened at $222.84 on Monday. The company has a market cap of $49.10 billion, a PE ratio of 29.91, a price-to-earnings-growth ratio of 2.23 and a beta of 0.84. The stock has a 50-day moving average price of $225.82. Air Products & Chemicals, Inc. has a 1 year low of $148.44 and a 1 year high of $232.47. The company has a current ratio of 2.28, a quick ratio of 2.09 and a debt-to-equity ratio of 0.28.

Air Products & Chemicals (NYSE:APD) last announced its quarterly earnings results 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 company had revenue of $2.22 billion for 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%. Air Products & Chemicals’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.95 EPS. Research analysts anticipate that Air Products & Chemicals, Inc. will post 8.24 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, November 11th. Investors of record on Tuesday, October 1st will be paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Monday, September 30th. Air Products & Chemicals’s payout ratio is 62.28%.

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

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