Parametric Portfolio Associates LLC Raises Stock Position in Air Products & Chemicals, Inc. (NYSE:APD)
Parametric Portfolio Associates LLC raised its position in Air Products & Chemicals, Inc. (NYSE:APD) by 1.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 700,974 shares of the basic materials company’s stock after acquiring an additional 9,446 shares during the period. Parametric Portfolio Associates LLC’s holdings in Air Products & Chemicals were worth $158,679,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of APD. IMA Wealth Inc. grew its position in Air Products & Chemicals by 285.7% in the first quarter. IMA Wealth Inc. now owns 135 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 100 shares during the period. Krane Funds Advisors LLC purchased a new stake in shares of Air Products & Chemicals in the 2nd quarter valued at approximately $26,000. Advisory Alpha LLC purchased a new stake in shares of Air Products & Chemicals in the 1st quarter valued at approximately $29,000. Squar Milner Financial Services LLC raised its stake in shares of Air Products & Chemicals by 87.1% in the 2nd quarter. Squar Milner Financial Services LLC now owns 131 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 61 shares during the period. Finally, Meridian Wealth Management LLC acquired a new position in shares of Air Products & Chemicals in the 2nd quarter worth approximately $43,000. Institutional investors own 85.47% of the company’s stock.
Air Products & Chemicals stock traded up $1.59 during mid-day trading on Wednesday, reaching $215.37. 73,765 shares of the company’s stock were exchanged, compared to its average volume of 794,502. 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, Inc. has a twelve month low of $148.44 and a twelve month high of $232.47. The company has a market cap of $47.68 billion, a P/E ratio of 28.96, a P/E/G ratio of 2.16 and a beta of 0.86. The company has a fifty day moving average of $225.81 and a 200-day moving average of $209.69.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 11th. Investors of record on Tuesday, October 1st will be issued a $1.16 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $4.64 dividend on an annualized basis and a yield of 2.15%. Air Products & Chemicals’s dividend payout ratio (DPR) is presently 62.28%.
Several analysts recently weighed in on the stock. HSBC downgraded shares of Air Products & Chemicals from a “buy” rating to a “hold” rating and dropped their target price for the company from $217.00 to $215.00 in a report on Thursday, August 1st. Seaport Global Securities cut 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 raised their price target on Air Products & Chemicals from $220.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Citigroup set a $260.00 price target on Air Products & Chemicals and gave the stock a “buy” rating in a research report on Monday, July 15th. Finally, UBS Group cut Air Products & Chemicals from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $224.00 to $240.00 in a research note on Thursday, July 11th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. Air Products & Chemicals 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 the stock in a transaction that occurred on Friday, July 26th. The stock was purchased at an average cost of $227.16 per share, with a total value of $4,543,200.00. Following the purchase, the chief executive officer now directly owns 453,783 shares of the company’s stock, valued at approximately $103,081,346.28. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.35% of the company’s stock.
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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