Senator Investment Group LP Sells 277,789 Shares of Air Products and Chemicals, Inc. $APD

Senator Investment Group LP cut its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 60.3% during the 1st quarter, HoldingsChannel.com reports. The fund owned 182,669 shares of the basic materials company’s stock after selling 277,789 shares during the period. Air Products and Chemicals accounts for approximately 2.9% of Senator Investment Group LP’s portfolio, making the stock its 16th biggest position. Senator Investment Group LP’s holdings in Air Products and Chemicals were worth $53,873,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in APD. Wayfinding Financial LLC acquired a new stake in shares of Air Products and Chemicals in the 1st quarter valued at about $25,000. Cheviot Value Management LLC acquired a new stake in shares of Air Products and Chemicals in the 1st quarter valued at about $27,000. Citizens National Bank Trust Department raised its stake in shares of Air Products and Chemicals by 833.3% in the 1st quarter. Citizens National Bank Trust Department now owns 112 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 100 shares during the period. Sunbelt Securities Inc. raised its stake in shares of Air Products and Chemicals by 525.9% in the 4th quarter. Sunbelt Securities Inc. now owns 169 shares of the basic materials company’s stock valued at $49,000 after purchasing an additional 142 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of Air Products and Chemicals by 3,560.0% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 183 shares of the basic materials company’s stock valued at $54,000 after purchasing an additional 178 shares during the period. 81.66% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Air Products and Chemicals news, VP Victoria Brifo sold 1,359 shares of the business’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $292.38, for a total transaction of $397,344.42. Following the transaction, the vice president owned 8,686 shares of the company’s stock, valued at $2,539,612.68. The trade was a 13.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.41% of the stock is currently owned by company insiders.

Air Products and Chemicals Price Performance

Shares of NYSE APD opened at $288.22 on Tuesday. The business’s 50 day moving average price is $287.79 and its two-hundred day moving average price is $287.47. The company has a market cap of $64.15 billion, a PE ratio of 41.47, a price-to-earnings-growth ratio of 6.48 and a beta of 0.81. The company has a quick ratio of 1.12, a current ratio of 1.29 and a debt-to-equity ratio of 0.93. Air Products and Chemicals, Inc. has a twelve month low of $243.69 and a twelve month high of $341.14.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings results on Thursday, July 31st. The basic materials company reported $3.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.99 by $0.10. The firm had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $2.95 billion. Air Products and Chemicals had a return on equity of 15.11% and a net margin of 12.86%. The business’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.20 earnings per share. On average, analysts predict that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Wednesday, October 1st will be given a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, October 1st. Air Products and Chemicals’s payout ratio is 103.02%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on APD. Barclays dropped their price target on Air Products and Chemicals from $355.00 to $325.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd. Royal Bank Of Canada began coverage on Air Products and Chemicals in a research note on Friday, June 13th. They issued an “outperform” rating and a $355.00 price target on the stock. Wells Fargo & Company lifted their target price on Air Products and Chemicals from $320.00 to $345.00 and gave the company an “overweight” rating in a research report on Monday, July 14th. Wall Street Zen raised Air Products and Chemicals from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, Mizuho lifted their target price on Air Products and Chemicals from $310.00 to $325.00 and gave the company an “outperform” rating in a research report on Tuesday, July 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $335.07.

About Air Products and Chemicals

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and related services in the Americas, Asia, Europe, the Middle East, India, and internationally. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, and syngas; and specialty gases for customers in various industries, including refining, chemical, manufacturing, electronics, energy production, medical, food, and metals.