Tocqueville Asset Management L.P. Has $16.85 Million Position in Air Products & Chemicals, Inc. (NYSE:APD)

Tocqueville Asset Management L.P. lowered its position in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 1.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 74,419 shares of the basic materials company’s stock after selling 1,410 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Air Products & Chemicals were worth $16,846,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of APD. Wells Fargo & Company MN boosted its holdings in shares of Air Products & Chemicals by 0.6% in the first quarter. Wells Fargo & Company MN now owns 3,943,516 shares of the basic materials company’s stock valued at $753,054,000 after buying an additional 23,089 shares during the period. Northern Trust Corp boosted its holdings in shares of Air Products & Chemicals by 0.7% in the first quarter. Northern Trust Corp now owns 3,262,098 shares of the basic materials company’s stock valued at $622,929,000 after buying an additional 22,480 shares during the period. Geode Capital Management LLC boosted its holdings in shares of 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 during the period. Neuberger Berman Group LLC boosted its holdings in shares of Air Products & Chemicals by 6.7% in the first quarter. Neuberger Berman Group LLC now owns 2,220,621 shares of the basic materials company’s stock valued at $424,050,000 after buying an additional 140,293 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Air Products & Chemicals by 25.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,044,236 shares of the basic materials company’s stock valued at $167,161,000 after buying an additional 212,479 shares during the period. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Shares of APD stock traded up $3.87 during trading on Tuesday, reaching $231.00. The company’s stock had a trading volume of 324,599 shares, compared to its average volume of 1,152,326. The firm’s fifty day moving average is $226.92. 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 stock has a market capitalization of $50.05 billion, a P/E ratio of 31.01, a price-to-earnings-growth ratio of 2.30 and a beta of 0.84. Air Products & Chemicals, Inc. has a one year low of $148.44 and a one year high of $232.47.

Air Products & Chemicals (NYSE:APD) last announced its quarterly earnings data on Thursday, July 25th. The basic materials company reported $2.17 EPS for the quarter, topping the Zacks’ consensus estimate of $2.14 by $0.03. The business had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.32 billion. Air Products & Chemicals had a net margin of 19.14% and a return on equity of 15.42%. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.95 earnings per share. On average, equities analysts forecast that Air Products & Chemicals, Inc. will post 8.24 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 11th. Stockholders of record on Tuesday, October 1st will be given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Monday, September 30th. Air Products & Chemicals’s dividend payout ratio is presently 62.28%.

In other Air Products & Chemicals news, CEO Seifi Ghasemi acquired 20,000 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were acquired at an average price of $227.16 per share, with a total value of $4,543,200.00. Following the completion of the transaction, the chief executive officer now directly owns 453,783 shares in the company, valued at approximately $103,081,346.28. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Russell A. Flugel sold 2,970 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $207.01, for a total transaction of $614,819.70. Following the completion of the sale, the vice president now directly owns 6,387 shares in the company, 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.

APD has been the subject of several research analyst reports. UBS Group cut shares of Air Products & Chemicals from a “buy” rating to a “neutral” rating and upped their price target for the company from $224.00 to $240.00 in a report on Thursday, July 11th. KeyCorp upped their price target 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. Citigroup set a $260.00 price target on shares of Air Products & Chemicals and gave the company a “buy” rating in a report on Monday, July 15th. Sanford C. Bernstein cut shares of Air Products & Chemicals from an “outperform” rating to a “market perform” rating and set a $225.00 price target for the company. in a report on Thursday, July 18th. Finally, HSBC cut shares of Air Products & Chemicals from a “buy” rating to a “hold” rating and reduced their price target for the company from $217.00 to $215.00 in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company. Air Products & Chemicals presently has a consensus rating of “Buy” and a consensus price target of $234.71.

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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