Watch Point Trust Co Has $1.64 Million Stock Position in Air Products & Chemicals, Inc. (NYSE:APD)

Watch Point Trust Co lowered its holdings in Air Products & Chemicals, Inc. (NYSE:APD) by 7.9% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 7,245 shares of the basic materials company’s stock after selling 621 shares during the period. Watch Point Trust Co’s holdings in Air Products & Chemicals were worth $1,640,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in 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 purchasing an additional 212,479 shares during the last quarter. Geode Capital Management LLC increased its stake in 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 purchasing an additional 187,347 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in Air Products & Chemicals in the first quarter valued at approximately $739,000. Retirement Systems of Alabama increased its stake in Air Products & Chemicals by 1.1% in the first quarter. Retirement Systems of Alabama now owns 102,270 shares of the basic materials company’s stock valued at $19,529,000 after purchasing an additional 1,151 shares during the last quarter. Finally, BTIM Corp. increased its stake in Air Products & Chemicals by 0.9% in the first quarter. BTIM Corp. now owns 161,569 shares of the basic materials company’s stock valued at $30,853,000 after purchasing an additional 1,430 shares during the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Shares of APD traded up $2.64 during mid-day trading on Thursday, reaching $225.23. 17,435 shares of the company’s stock were exchanged, compared to its average volume of 1,162,570. The company has a quick ratio of 2.09, a current ratio of 2.28 and a debt-to-equity ratio of 0.28. The stock has a market cap of $49.16 billion, a PE ratio of 30.24, a PEG ratio of 2.27 and a beta of 0.84. The stock’s fifty day simple moving average is $227.01. Air Products & Chemicals, Inc. has a 52-week low of $148.44 and a 52-week high of $232.47.

Air Products & Chemicals (NYSE:APD) last announced its earnings results on Thursday, July 25th. The basic materials company reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period last year, the firm posted $1.95 earnings per share. As a group, equities analysts forecast that Air Products & Chemicals, Inc. will post 8.24 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 11th. Stockholders of record on Tuesday, October 1st will be given a dividend of $1.16 per share. The ex-dividend date is Monday, September 30th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.06%. Air Products & Chemicals’s dividend payout ratio (DPR) is presently 62.28%.

Several equities analysts have commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Air Products & Chemicals from $207.00 to $225.00 and gave the company an “overweight” rating in a research note on Friday, June 7th. Seaport Global Securities lowered shares of Air Products & Chemicals from a “buy” rating to a “neutral” rating in a research note on Friday, July 12th. They noted that the move was a valuation call. KeyCorp increased their price target on shares of Air Products & Chemicals from $220.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. BMO Capital Markets increased their price target on shares of Air Products & Chemicals from $235.00 to $252.00 and gave the company an “outperform” rating in a research note on Monday. Finally, HSBC lowered shares of Air Products & Chemicals from a “buy” rating to a “hold” rating and dropped their price target for the company from $217.00 to $215.00 in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $234.71.

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

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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