Robeco Institutional Asset Management B.V. grew its holdings in Air Products & Chemicals, Inc. (NYSE:APD) by 14.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 453,101 shares of the basic materials company’s stock after buying an additional 58,718 shares during the period. Robeco Institutional Asset Management B.V. owned 0.21% of Air Products & Chemicals worth $102,568,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Focused Wealth Management Inc bought a new position in shares of Air Products & Chemicals in the 2nd quarter valued at $291,000. LexAurum Advisors LLC bought a new position in shares of Air Products & Chemicals in the 2nd quarter valued at $204,000. Commonwealth Equity Services LLC increased its stake in shares of Air Products & Chemicals by 2.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 34,466 shares of the basic materials company’s stock valued at $7,802,000 after purchasing an additional 837 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA increased its stake in shares of Air Products & Chemicals by 1.1% in the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 6,789 shares of the basic materials company’s stock valued at $1,537,000 after purchasing an additional 75 shares during the last quarter. Finally, Meridian Wealth Management LLC bought a new position in shares of Air Products & Chemicals in the 2nd quarter valued at $43,000. 86.96% of the stock is owned by institutional investors.
Several equities research analysts recently weighed in on APD shares. UBS Group downgraded Air Products & Chemicals from a “buy” rating to a “neutral” rating and raised their price objective for the company from $224.00 to $240.00 in a report on Thursday, July 11th. KeyCorp raised their price objective on Air Products & Chemicals from $220.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Sanford C. Bernstein downgraded Air Products & Chemicals from an “outperform” rating to a “market perform” rating and set a $225.00 price objective on the stock. in a report on Thursday, July 18th. Citigroup set a $260.00 price objective on Air Products & Chemicals and gave the company a “buy” rating in a report on Monday, July 15th. Finally, Barclays raised their price objective on Air Products & Chemicals from $220.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $233.77.
Air Products & Chemicals (NYSE:APD) last announced its earnings results on Thursday, July 25th. The basic materials company reported $2.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.14 by $0.03. The firm had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.32 billion. Air Products & Chemicals had a return on equity of 15.42% and a net margin of 19.14%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.95 EPS. On average, equities analysts predict that Air Products & Chemicals, Inc. will post 8.24 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 11th. Shareholders of record on Tuesday, October 1st will be issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 2.04%. The ex-dividend date is Monday, September 30th. Air Products & Chemicals’s payout ratio is presently 62.28%.
In other Air Products & Chemicals news, VP Russell A. Flugel sold 2,970 shares of Air Products & Chemicals 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 transaction, the vice president now directly owns 6,387 shares of the company’s stock, valued at approximately $1,322,172.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Seifi Ghasemi bought 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 completion of the acquisition, the chief executive officer now directly owns 453,783 shares in the company, valued at approximately $103,081,346.28. The disclosure for this purchase can be found here. 0.35% of the stock is currently owned by insiders.
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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