Townsquare Capital LLC Has $13.61 Million Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Key Points

• Townsquare Capital LLC increased its stake in Air Products and Chemicals, Inc. by 5.5%, owning 46,143 shares valued at approximately $13.6 million at the end of the last quarter.
• Air Products reported $3.09 earnings per share for the quarter, beating estimates and generating revenue of $3.02 billion, up 1.2% year-over-year.
• The company announced a quarterly dividend of $1.79 per share, reflecting a 2.5% yield, with a payout ratio of over 103%.

Townsquare Capital LLC boosted its holdings in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 5.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 46,143 shares of the basic materials company's stock after acquiring an additional 2,408 shares during the quarter. Townsquare Capital LLC's holdings in Air Products and Chemicals were worth $13,609,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Wayfinding Financial LLC purchased a new stake in Air Products and Chemicals during the 1st quarter worth about $25,000. Cheviot Value Management LLC acquired a new position in shares of Air Products and Chemicals in the 1st quarter valued at about $27,000. Citizens National Bank Trust Department lifted its stake in shares of Air Products and Chemicals by 833.3% in the 1st quarter. Citizens National Bank Trust Department now owns 112 shares of the basic materials company's stock valued at $33,000 after purchasing an additional 100 shares in the last quarter. Sunbelt Securities Inc. lifted its stake in shares of Air Products and Chemicals by 525.9% in the 4th quarter. Sunbelt Securities Inc. now owns 169 shares of the basic materials company's stock valued at $49,000 after purchasing an additional 142 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Air Products and Chemicals in the 4th quarter valued at about $50,000. Hedge funds and other institutional investors own 81.66% of the company's stock.

Air Products and Chemicals Trading Up 1.1%

Shares of NYSE APD traded up $3.29 during mid-day trading on Wednesday, hitting $292.56. 373,019 shares of the company traded hands, compared to its average volume of 1,317,329. Air Products and Chemicals, Inc. has a 1 year low of $243.69 and a 1 year high of $341.14. The stock has a market capitalization of $65.11 billion, a price-to-earnings ratio of 42.10, a PEG ratio of 6.34 and a beta of 0.81. The company has a quick ratio of 1.12, a current ratio of 1.29 and a debt-to-equity ratio of 0.93. The business has a 50 day moving average of $286.82 and a two-hundred day moving average of $288.85.

Air Products and Chemicals (NYSE:APD - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The basic materials company reported $3.09 earnings per share for the quarter, beating the consensus estimate of $2.99 by $0.10. The firm had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.95 billion. Air Products and Chemicals had a return on equity of 15.11% and a net margin of 12.86%. Air Products and Chemicals's quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $3.20 earnings per share. On average, sell-side analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Wednesday, October 1st will be given a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Wednesday, October 1st. Air Products and Chemicals's payout ratio is presently 103.02%.

Insiders Place Their Bets

In other Air Products and Chemicals news, VP Victoria Brifo sold 1,359 shares of the company's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $292.38, for a total value of $397,344.42. Following the transaction, the vice president directly owned 8,686 shares of the company's stock, valued at $2,539,612.68. This represents a 13.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.41% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on APD shares. Morgan Stanley assumed coverage on Air Products and Chemicals in a research note on Thursday, May 29th. They issued an "equal weight" rating and a $290.00 price objective on the stock. Bank of America downgraded Air Products and Chemicals from a "neutral" rating to an "underperform" rating and dropped their price objective for the stock from $330.00 to $282.00 in a report on Tuesday, April 15th. Citigroup boosted their price target on Air Products and Chemicals from $310.00 to $320.00 and gave the company a "buy" rating in a report on Monday, June 30th. Wall Street Zen upgraded Air Products and Chemicals from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, Royal Bank Of Canada started coverage on Air Products and Chemicals in a research note on Friday, June 13th. They set an "outperform" rating and a $355.00 price objective for the company. One analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Air Products and Chemicals has an average rating of "Moderate Buy" and an average target price of $335.07.

Air Products and Chemicals Company Profile

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and related services in the Americas, Asia, Europe, the Middle East, India, and internationally. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, and syngas; and specialty gases for customers in various industries, including refining, chemical, manufacturing, electronics, energy production, medical, food, and metals.