Air Products & Chemicals, Inc. (NYSE:APD) Shares Sold by Cramer Rosenthal Mcglynn LLC

Cramer Rosenthal Mcglynn LLC trimmed its stake in Air Products & Chemicals, Inc. (NYSE:APD) by 32.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 138,824 shares of the basic materials company’s stock after selling 66,550 shares during the quarter. Cramer Rosenthal Mcglynn LLC owned approximately 0.06% of Air Products & Chemicals worth $31,426,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of APD. Geode Capital Management LLC grew its holdings in shares of Air Products & Chemicals by 7.6% in the 4th quarter. Geode Capital Management LLC now owns 2,636,556 shares of the basic materials company’s stock worth $421,179,000 after acquiring an additional 187,347 shares during the last quarter. Cornerstone Advisors Inc. grew its holdings in shares of Air Products & Chemicals by 49.3% during the first quarter. Cornerstone Advisors Inc. now owns 1,123 shares of the basic materials company’s stock valued at $214,000 after buying an additional 371 shares in the last quarter. Bbva Compass Bancshares Inc. purchased a new position in shares of Air Products & Chemicals during the first quarter valued at $220,000. First Allied Advisory Services Inc. grew its holdings in shares of Air Products & Chemicals by 3.9% during the first quarter. First Allied Advisory Services Inc. now owns 2,226 shares of the basic materials company’s stock valued at $429,000 after buying an additional 84 shares in the last quarter. Finally, Cetera Advisors LLC purchased a new position in shares of Air Products & Chemicals during the first quarter valued at $217,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

In related news, CEO Seifi Ghasemi purchased 20,000 shares of Air Products & Chemicals stock in a transaction on Friday, July 26th. The stock was bought 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 of the company’s stock, valued at $103,081,346.28. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.35% of the stock is owned by insiders.

A number of research analysts have commented on APD shares. BMO Capital Markets boosted their target price on Air Products & Chemicals from $235.00 to $252.00 and gave the company an “outperform” rating in a research note on Monday, August 12th. Monness Crespi & Hardt restated a “buy” rating and issued a $254.00 target price (up previously from $214.00) on shares of Air Products & Chemicals in a research note on Friday, July 26th. Susquehanna Bancshares restated a “neutral” rating on shares of Air Products & Chemicals in a research note on Monday, August 19th. JPMorgan Chase & Co. boosted their target price on Air Products & Chemicals from $207.00 to $225.00 and gave the company an “overweight” rating in a research note on Friday, June 7th. Finally, KeyCorp boosted their target price on Air Products & Chemicals from $220.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $234.71.

Shares of NYSE:APD traded down $0.11 on Friday, reaching $220.56. The company had a trading volume of 5,603 shares, compared to its average volume of 872,807. Air Products & Chemicals, Inc. has a twelve month low of $148.44 and a twelve month high of $232.47. The stock has a 50-day moving average price of $225.55 and a 200 day moving average price of $209.86. The stock has a market capitalization of $47.11 billion, a P/E ratio of 29.60, a P/E/G ratio of 2.14 and a beta of 0.86. The company has a quick ratio of 2.09, a current ratio of 2.28 and a debt-to-equity ratio of 0.28.

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

The business also recently declared a quarterly dividend, which will be paid on Monday, November 11th. Shareholders of record on Tuesday, October 1st will be given a $1.16 dividend. The ex-dividend date is Monday, September 30th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.10%. Air Products & Chemicals’s dividend payout ratio is currently 62.28%.

Air Products & Chemicals Company Profile

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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