3,924 Air Products and Chemicals, Inc. $APD Shares Sold by Bokf Na

Key Points

• Bokf Na reduced its Air Products and Chemicals stake by 12.7% in the third quarter, selling 3,924 shares and retaining 26,983 shares valued at approximately $7.5 million. Institutional investors collectively own 81.66% of APD.
• Wall Street maintains a “Moderate Buy” consensus on APD, with an average price target of $333.88. Analysts cited in the report set targets ranging from $320 to $373.
• APD shares opened at $311.20, near their 52-week high, while the company reported quarterly EPS of $3.47—above estimates—and announced a quarterly dividend of $1.81 per share, equivalent to a 2.3% yield.

Bokf Na trimmed its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 12.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,983 shares of the basic materials company's stock after selling 3,924 shares during the quarter. Bokf Na's holdings in Air Products and Chemicals were worth $7,507,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in APD. Gamco Investors INC. ET AL raised its position in Air Products and Chemicals by 0.9% in the second quarter. Gamco Investors INC. ET AL now owns 3,911 shares of the basic materials company's stock worth $1,147,000 after acquiring an additional 35 shares during the period. Virginia Estate & Retirement Planning Advisors Inc. boosted its stake in shares of Air Products and Chemicals by 46.1% during the 3rd quarter. Virginia Estate & Retirement Planning Advisors Inc. now owns 111 shares of the basic materials company's stock worth $31,000 after acquiring an additional 35 shares during the last quarter. Revisor Wealth Management LLC grew its position in shares of Air Products and Chemicals by 0.8% during the 1st quarter. Revisor Wealth Management LLC now owns 4,545 shares of the basic materials company's stock valued at $1,320,000 after acquiring an additional 36 shares during the period. SBI Securities Co. Ltd. grew its position in shares of Air Products and Chemicals by 10.4% during the 3rd quarter. SBI Securities Co. Ltd. now owns 382 shares of the basic materials company's stock valued at $106,000 after acquiring an additional 36 shares during the period. Finally, Baader Bank Aktiengesellschaft grew its position in shares of Air Products and Chemicals by 0.7% during the 1st quarter. Baader Bank Aktiengesellschaft now owns 5,053 shares of the basic materials company's stock valued at $1,463,000 after acquiring an additional 37 shares during the period. 81.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on APD shares. Argus upped their price objective on Air Products and Chemicals from $316.00 to $329.00 and gave the stock a "buy" rating in a research note on Wednesday, September 9th. Sanford C. Bernstein reiterated an "outperform" rating and set a $373.00 target price on shares of Air Products and Chemicals in a research report on Friday, July 31st. KeyCorp assumed coverage on Air Products and Chemicals in a report on Thursday, September 10th. They set a "sector weight" rating for the company. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $320.00 price target on shares of Air Products and Chemicals in a research report on Monday, August 3rd. Finally, Mizuho boosted their price objective on Air Products and Chemicals from $345.00 to $355.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $333.88.

Air Products and Chemicals Trading Up 1.3%

Shares of APD stock opened at $311.20 on Friday. Air Products and Chemicals, Inc. has a 52-week low of $229.11 and a 52-week high of $314.87. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.92 and a current ratio of 1.08. The firm has a market capitalization of $69.30 billion, a PE ratio of -1,414.55, a PEG ratio of 2.89 and a beta of 0.76. The stock has a fifty day simple moving average of $293.93 and a two-hundred day simple moving average of $289.49.

Air Products and Chemicals (NYSE:APD - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The basic materials company reported $3.47 EPS for the quarter, beating analysts' consensus estimates of $3.34 by $0.13. Air Products and Chemicals had a positive return on equity of 16.87% and a negative net margin of 0.38%. The business had revenue of $3.16 billion for the quarter, compared to analysts' expectations of $3.20 billion. During the same period last year, the firm earned $3.09 earnings per share. The business's quarterly revenue was up 4.6% on a year-over-year basis. On average, analysts predict that Air Products and Chemicals, Inc. will post 13.46 EPS for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 8th. Investors of record on Monday, January 4th will be given a dividend of $1.81 per share. The ex-dividend date is Monday, January 4th. This represents a $7.24 annualized dividend and a dividend yield of 2.3%. Air Products and Chemicals's dividend payout ratio (DPR) is currently -3,290.91%.

About Air Products and Chemicals

Air Products and Chemicals, Inc is a global industrial gas and related equipment company serving customers in industries such as refining, chemicals, manufacturing, metals, electronics, food and beverage, healthcare, and energy. The company supplies atmospheric gases, including oxygen, nitrogen and argon, as well as hydrogen, helium, carbon dioxide, specialty gases and other industrial gases.

Air Products produces and distributes gases through pipelines, on-site facilities, bulk deliveries and packaged-gas systems.

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