Rothschild & Co. Asset Management US Inc. Cuts Stock Holdings in Air Products & Chemicals, Inc. (NYSE:APD)

Rothschild & Co. Asset Management US Inc. reduced its position in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 15.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 285,836 shares of the basic materials company’s stock after selling 52,774 shares during the period. Air Products & Chemicals makes up approximately 0.7% of Rothschild & Co. Asset Management US Inc.’s portfolio, making the stock its 23rd largest position. Rothschild & Co. Asset Management US Inc. owned about 0.13% of Air Products & Chemicals worth $64,705,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of APD. Dimensional Fund Advisors LP raised its holdings in Air Products & Chemicals by 25.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,044,236 shares of the basic materials company’s stock worth $167,161,000 after purchasing an additional 212,479 shares in the last quarter. Geode Capital Management LLC increased its holdings in Air Products & Chemicals by 7.6% in the fourth quarter. Geode Capital Management LLC now owns 2,636,556 shares of the basic materials company’s stock valued at $421,179,000 after buying an additional 187,347 shares in the last quarter. Sageworth Trust Co purchased a new position in Air Products & Chemicals in the first quarter valued at about $75,000. Rockland Trust Co. purchased a new position in Air Products & Chemicals in the first quarter valued at about $226,000. Finally, Douglass Winthrop Advisors LLC purchased a new position in Air Products & Chemicals in the first quarter valued at about $229,000. 86.86% of the stock is owned by hedge funds and other institutional investors.

NYSE APD traded down $3.49 during mid-day trading on Monday, reaching $219.35. 734,227 shares of the stock were exchanged, compared to its average volume of 1,086,718. Air Products & Chemicals, Inc. has a 1-year low of $148.44 and a 1-year high of $232.47. The firm’s fifty day simple moving average is $225.82. The firm has a market capitalization of $49.10 billion, a PE ratio of 29.44, a PEG ratio of 2.23 and a beta of 0.84. 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 (NYSE:APD) last announced its 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. Air Products & Chemicals had a net margin of 19.14% and a return on equity of 15.42%. The firm had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same quarter last year, the business earned $1.95 earnings per share. Air Products & Chemicals’s revenue was down 1.5% compared to the same quarter last year. On average, analysts forecast 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. Shareholders of record on Tuesday, October 1st will be paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend is Monday, September 30th. Air Products & Chemicals’s dividend payout ratio is currently 62.28%.

A number of research analysts have issued reports on the stock. Barclays increased their target price on shares of Air Products & Chemicals from $220.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Credit Suisse Group increased their target price on shares of Air Products & Chemicals from $221.00 to $238.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Vertical Research cut shares of Air Products & Chemicals from a “buy” rating to a “hold” rating in a report on Thursday, April 25th. UBS Group cut shares of Air Products & Chemicals from a “buy” rating to a “neutral” rating and increased their target price for the company from $224.00 to $240.00 in a report on Thursday, July 11th. Finally, Citigroup set a $260.00 price target on shares of Air Products & Chemicals and gave the company a “buy” rating in a research report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $233.77.

In other Air Products & Chemicals news, VP Russell A. Flugel sold 2,970 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $207.01, for a total transaction of $614,819.70. Following the transaction, the vice president now owns 6,387 shares of the company’s stock, valued at $1,322,172.87. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Seifi Ghasemi purchased 20,000 shares of the business’s stock in a transaction on Friday, July 26th. The shares were bought at an average cost of $227.16 per share, for a total transaction of $4,543,200.00. Following the purchase, the chief executive officer now owns 453,783 shares of the company’s stock, valued at $103,081,346.28. The disclosure for this purchase can be found here. Company insiders own 0.35% of the company’s stock.

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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