ExodusPoint Capital Management LP lifted its position in Air Products and Chemicals, Inc. (NYSE:APD – Free Report) by 188.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 146,403 shares of the basic materials company’s stock after acquiring an additional 95,686 shares during the quarter. ExodusPoint Capital Management LP owned approximately 0.07% of Air Products and Chemicals worth $43,852,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BDO Wealth Advisors LLC boosted its position in Air Products and Chemicals by 102.3% during the 2nd quarter. BDO Wealth Advisors LLC now owns 89 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 45 shares during the period. Sageworth Trust Co purchased a new position in Air Products and Chemicals during the first quarter valued at approximately $30,000. Trifecta Capital Advisors LLC increased its stake in Air Products and Chemicals by 1,250.0% in the 1st quarter. Trifecta Capital Advisors LLC now owns 108 shares of the basic materials company’s stock valued at $31,000 after buying an additional 100 shares during the period. Jones Financial Companies Lllp boosted its stake in shares of Air Products and Chemicals by 132.1% during the 2nd quarter. Jones Financial Companies Lllp now owns 123 shares of the basic materials company’s stock valued at $37,000 after buying an additional 70 shares during the period. Finally, Solstein Capital LLC grew its holdings in shares of Air Products and Chemicals by 173.9% during the 2nd quarter. Solstein Capital LLC now owns 126 shares of the basic materials company’s stock valued at $38,000 after acquiring an additional 80 shares in the last quarter. Institutional investors and hedge funds own 82.62% of the company’s stock.
Analyst Ratings Changes
A number of analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their target price on Air Products and Chemicals from $310.00 to $295.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 8th. Mizuho boosted their price target on Air Products and Chemicals from $330.00 to $331.00 and gave the company a “buy” rating in a research note on Thursday, October 5th. Redburn Atlantic lowered shares of Air Products and Chemicals from a “buy” rating to a “sell” rating and set a $240.00 price objective on the stock. in a research report on Friday. Citigroup boosted their target price on shares of Air Products and Chemicals from $328.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, October 4th. Finally, StockNews.com began coverage on shares of Air Products and Chemicals in a report on Thursday, October 5th. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $320.31.
Insider Buying and Selling at Air Products and Chemicals
In other news, CEO Seifi Ghasemi bought 11,000 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The shares were acquired at an average price of $264.42 per share, with a total value of $2,908,620.00. Following the transaction, the chief executive officer now owns 670,673 shares in the company, valued at $177,339,354.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.40% of the company’s stock.
Air Products and Chemicals Stock Performance
Air Products and Chemicals stock traded up $2.97 during trading hours on Monday, hitting $272.96. The stock had a trading volume of 499,078 shares, compared to its average volume of 932,648. The company has a market cap of $60.64 billion, a PE ratio of 26.16, a price-to-earnings-growth ratio of 1.87 and a beta of 0.86. Air Products and Chemicals, Inc. has a fifty-two week low of $251.63 and a fifty-two week high of $328.56. The company has a 50-day moving average of $283.46 and a two-hundred day moving average of $286.61. The company has a quick ratio of 1.17, a current ratio of 1.33 and a debt-to-equity ratio of 0.60.
Air Products and Chemicals (NYSE:APD – Get Free Report) last announced its quarterly earnings results on Tuesday, November 7th. The basic materials company reported $3.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.11 by $0.04. Air Products and Chemicals had a net margin of 18.26% and a return on equity of 17.02%. The firm had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.35 billion. During the same period last year, the firm posted $2.89 EPS. The firm’s quarterly revenue was down 10.6% on a year-over-year basis. On average, equities research analysts anticipate that Air Products and Chemicals, Inc. will post 13 EPS for the current fiscal year.
Air Products and Chemicals Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 12th. Investors of record on Tuesday, January 2nd will be issued a $1.75 dividend. The ex-dividend date of this dividend is Friday, December 29th. This represents a $7.00 dividend on an annualized basis and a yield of 2.56%. Air Products and Chemicals’s dividend payout ratio is presently 67.83%.
Air Products and Chemicals Company Profile
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; 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, manufacturing, electronics, magnetic resonance imaging, energy production, medical, food, and metals.
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