Keybank National Association OH Trims Stake in Air Products & Chemicals, Inc. (NYSE:APD)

Keybank National Association OH reduced its position in Air Products & Chemicals, Inc. (NYSE:APD) by 2.7% in the 2nd quarter, Holdings Channel reports. The firm owned 173,899 shares of the basic materials company’s stock after selling 4,917 shares during the period. Keybank National Association OH’s holdings in Air Products & Chemicals were worth $39,366,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Squar Milner Financial Services LLC increased its position in Air Products & Chemicals by 87.1% in the 2nd quarter. Squar Milner Financial Services LLC now owns 131 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 61 shares during the period. IMA Wealth Inc. increased its position 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 valued at $26,000 after acquiring an additional 100 shares during the period. Field & Main Bank acquired a new position in Air Products & Chemicals in the 1st quarter valued at about $27,000. Advisory Alpha LLC acquired a new position in Air Products & Chemicals in the 1st quarter valued at about $29,000. Finally, Meridian Wealth Management LLC acquired a new position in Air Products & Chemicals in the 2nd quarter valued at about $43,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Several brokerages recently issued reports on APD. Monness Crespi & Hardt restated a “buy” rating and issued a $254.00 price target (up previously from $214.00) on shares of Air Products & Chemicals in a research report on Friday, July 26th. Credit Suisse Group boosted their price target on Air Products & Chemicals from $221.00 to $238.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. KeyCorp boosted their target price on Air Products & Chemicals from $220.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Barclays boosted their target price on Air Products & Chemicals from $220.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, HSBC cut Air Products & Chemicals from a “buy” rating to a “hold” rating and dropped their target price for the stock from $217.00 to $215.00 in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $234.71.

NYSE APD traded up $2.85 on Tuesday, hitting $229.98. 225,772 shares of the company’s stock were exchanged, compared to its average volume of 1,152,326. The company has a current ratio of 2.28, a quick ratio of 2.09 and a debt-to-equity ratio of 0.28. The firm has a 50-day moving average price of $226.92. Air Products & Chemicals, Inc. has a fifty-two week low of $148.44 and a fifty-two week high of $232.47. The stock has a market cap of $50.05 billion, a price-to-earnings ratio of 30.87, a price-to-earnings-growth ratio of 2.30 and a beta of 0.84.

Air Products & Chemicals (NYSE:APD) last released its earnings results 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. Air Products & Chemicals had a return on equity of 15.42% and a net margin of 19.14%. The company had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter in the previous year, the firm posted $1.95 EPS. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. As a group, equities analysts expect that Air Products & Chemicals, Inc. will post 8.24 EPS for the current 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 issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Monday, September 30th. Air Products & Chemicals’s dividend payout ratio is currently 62.28%.

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

Air Products & Chemicals 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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