Mizuho Securities USA LLC Sells 3,256 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Key Points

• Mizuho Securities USA LLC reduced its stake in Air Products and Chemicals by 15.5% during Q1, now owning 17,814 shares worth approximately $5.25 million.
• Institutional ownership in Air Products and Chemicals is high at 81.66%, with multiple funds, including Wayfinding Financial and Cheviot Value Management, increasing their positions.
• The company reported a quarterly EPS of $3.09, exceeding analysts' expectations, and declared a quarterly dividend of $1.79 per share, payable on November 10th.

Mizuho Securities USA LLC lowered its stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 15.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,814 shares of the basic materials company's stock after selling 3,256 shares during the quarter. Mizuho Securities USA LLC's holdings in Air Products and Chemicals were worth $5,254,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of APD. Wayfinding Financial LLC bought a new stake in shares of Air Products and Chemicals in the first quarter worth $25,000. Cheviot Value Management LLC acquired a new position in Air Products and Chemicals during the first quarter worth $27,000. Citizens National Bank Trust Department increased its holdings in Air Products and Chemicals by 833.3% during the first quarter. Citizens National Bank Trust Department now owns 112 shares of the basic materials company's stock worth $33,000 after buying an additional 100 shares during the last quarter. Sunbelt Securities Inc. increased its holdings in Air Products and Chemicals by 525.9% during the fourth quarter. Sunbelt Securities Inc. now owns 169 shares of the basic materials company's stock worth $49,000 after buying an additional 142 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Air Products and Chemicals during the fourth quarter worth $50,000. Institutional investors own 81.66% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. UBS Group upped their price objective on shares of Air Products and Chemicals from $328.00 to $344.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Morgan Stanley began coverage on shares of Air Products and Chemicals in a research note on Thursday, May 29th. They issued an "equal weight" rating and a $290.00 price target on the stock. Citigroup upped their price target on shares of Air Products and Chemicals from $310.00 to $320.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Barclays decreased their price target on shares of Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. Finally, Wells Fargo & Company upped their price target on shares of Air Products and Chemicals from $320.00 to $345.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Air Products and Chemicals currently has a consensus rating of "Moderate Buy" and a consensus target price of $335.07.

Insiders Place Their Bets

In other news, VP Victoria Brifo sold 1,359 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $292.38, for a total transaction of $397,344.42. Following the completion of the sale, the vice president owned 8,686 shares of the company's stock, valued at $2,539,612.68. This trade represents a 13.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.41% of the company's stock.

Air Products and Chemicals Trading Down 1.3%

Shares of Air Products and Chemicals stock traded down $3.69 on Thursday, hitting $290.53. The stock had a trading volume of 499,229 shares, compared to its average volume of 1,315,515. The stock has a 50 day moving average of $287.09 and a 200 day moving average of $288.89. Air Products and Chemicals, Inc. has a twelve month low of $243.69 and a twelve month high of $341.14. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.12 and a current ratio of 1.29. The firm has a market capitalization of $64.66 billion, a P/E ratio of 41.81, a PEG ratio of 6.46 and a beta of 0.81.

Air Products and Chemicals (NYSE:APD - Get Free Report) last released its earnings results on Thursday, July 31st. The basic materials company reported $3.09 earnings per share for the quarter, beating analysts' consensus estimates of $2.99 by $0.10. The business had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $2.95 billion. Air Products and Chemicals had a net margin of 12.86% and a return on equity of 15.11%. The company's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.20 EPS. Sell-side analysts expect 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 company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Wednesday, October 1st will be given a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, October 1st. Air Products and Chemicals's dividend payout ratio is currently 103.02%.

Air Products and Chemicals 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.