L & S Advisors Inc lifted its stake in Air Products & Chemicals, Inc. (NYSE:APD) by 393.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 32,825 shares of the basic materials company’s stock after acquiring an additional 26,178 shares during the period. Air Products & Chemicals makes up 1.0% of L & S Advisors Inc’s portfolio, making the stock its 20th largest holding. L & S Advisors Inc’s holdings in Air Products & Chemicals were worth $7,431,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of APD. Krane Funds Advisors LLC bought a new position in shares of Air Products & Chemicals during the 2nd quarter valued at about $26,000. Squar Milner Financial Services LLC raised its position in shares of Air Products & Chemicals by 87.1% during the 2nd quarter. Squar Milner Financial Services LLC now owns 131 shares of the basic materials company’s stock valued at $30,000 after buying an additional 61 shares in the last quarter. IMA Wealth Inc. raised its position in shares of Air Products & Chemicals by 285.7% during the 1st quarter. IMA Wealth Inc. now owns 135 shares of the basic materials company’s stock valued at $26,000 after buying an additional 100 shares in the last quarter. Advisory Alpha LLC purchased a new stake in Air Products & Chemicals in the 1st quarter worth about $29,000. Finally, Meridian Wealth Management LLC purchased a new stake in Air Products & Chemicals in the 2nd quarter worth about $43,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.
A number of analysts recently weighed in on the stock. Monness Crespi & Hardt reissued a “buy” rating and issued a $254.00 price objective (up from $214.00) on shares of Air Products & Chemicals in a research report on Friday, July 26th. Susquehanna Bancshares reissued a “neutral” rating on shares of Air Products & Chemicals in a research report on Monday, August 19th. BMO Capital Markets increased their price objective on shares of Air Products & Chemicals from $235.00 to $252.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. UBS Group lowered shares of Air Products & Chemicals from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $224.00 to $240.00 in a research report on Thursday, July 11th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Air Products & Chemicals from $207.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday, June 7th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $234.71.
In related news, CEO Seifi Ghasemi bought 20,000 shares of Air Products & Chemicals stock in a transaction dated Friday, July 26th. The shares were acquired at an average cost 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 owns 453,783 shares in the company, valued at approximately $103,081,346.28. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.35% of the company’s stock.
Shares of NYSE:APD opened at $220.89 on Friday. The firm has a market cap of $47.11 billion, a PE ratio of 29.65, a price-to-earnings-growth ratio of 2.14 and a beta of 0.86. The firm’s 50 day simple moving average is $225.55 and its 200-day simple moving average is $209.86. Air Products & Chemicals, Inc. has a one year low of $148.44 and a one year high of $232.47. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.09 and a current ratio of 2.28.
Air Products & Chemicals (NYSE:APD) last issued its earnings results 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 company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period last year, the company posted $1.95 earnings per share. Equities research analysts predict that Air Products & Chemicals, Inc. will post 8.24 EPS for the current fiscal year.
The business 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. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend is Monday, September 30th. Air Products & Chemicals’s dividend payout ratio (DPR) is presently 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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