CIBC Asset Management Inc Sells 1,238 Shares of Air Products & Chemicals, Inc. (APD)

CIBC Asset Management Inc reduced its holdings in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 4.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,279 shares of the basic materials company’s stock after selling 1,238 shares during the quarter. CIBC Asset Management Inc’s holdings in Air Products & Chemicals were worth $5,018,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the business. Evermay Wealth Management LLC increased its holdings in Air Products & Chemicals by 3.5% during the 1st quarter. Evermay Wealth Management LLC now owns 1,472 shares of the basic materials company’s stock valued at $281,000 after acquiring an additional 50 shares in the last quarter. Canandaigua National Bank & Trust Co. increased its holdings in Air Products & Chemicals by 2.3% during the 1st quarter. Canandaigua National Bank & Trust Co. now owns 2,394 shares of the basic materials company’s stock valued at $457,000 after acquiring an additional 53 shares in the last quarter. Bank OZK increased its holdings in Air Products & Chemicals by 3.5% during the 1st quarter. Bank OZK now owns 1,561 shares of the basic materials company’s stock valued at $298,000 after acquiring an additional 53 shares in the last quarter. Old North State Trust LLC increased its holdings in Air Products & Chemicals by 26.0% during the 1st quarter. Old North State Trust LLC now owns 276 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 57 shares in the last quarter. Finally, Wambolt & Associates LLC increased its holdings in Air Products & Chemicals by 2.0% during the 1st quarter. Wambolt & Associates LLC now owns 3,085 shares of the basic materials company’s stock valued at $593,000 after acquiring an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 87.41% of the company’s stock.

Air Products & Chemicals stock opened at $205.02 on Thursday. Air Products & Chemicals, Inc. has a 12-month low of $148.44 and a 12-month high of $209.86. The stock has a market cap of $45.03 billion, a price-to-earnings ratio of 27.52, a PEG ratio of 2.11 and a beta of 0.83. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 2.36.

Air Products & Chemicals (NYSE:APD) last released its earnings results on Wednesday, April 24th. The basic materials company reported $1.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.88 by $0.04. Air Products & Chemicals had a net margin of 18.90% and a return on equity of 15.28%. The business had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.23 billion. During the same period last year, the company earned $1.71 earnings per share. The company’s quarterly revenue was up 1.5% on a year-over-year basis. As a group, equities research analysts expect that Air Products & Chemicals, Inc. will post 8.22 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, August 12th. Investors of record on Monday, July 1st will be given a $1.16 dividend. The ex-dividend date is Friday, June 28th. This represents a $4.64 annualized dividend and a dividend yield of 2.26%. Air Products & Chemicals’s dividend payout ratio is presently 62.28%.

Several equities research analysts have issued reports on APD shares. UBS Group raised their price target on shares of Air Products & Chemicals from $215.00 to $224.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Bank of America raised shares of Air Products & Chemicals from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $170.00 to $215.00 in a research note on Thursday, April 25th. Credit Suisse Group raised their price target on shares of Air Products & Chemicals from $200.00 to $222.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 17th. Barclays raised their price target on shares of Air Products & Chemicals from $184.00 to $220.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Finally, BMO Capital Markets raised their price target on shares of Air Products & Chemicals from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $211.50.

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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.

Further Reading: Oversold

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

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