Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by Mizuho Markets Americas LLC

Key Points

• Mizuho Markets Americas LLC significantly reduced its holdings in Air Products and Chemicals by 66.7%, selling nearly 80,000 shares during the first quarter.
• Despite the reduction in Mizuho's holdings, other investors, like Brighton Jones LLC and Wellington Management Group LLP, increased their stakes in the company, indicating continued interest.
• Analysts have mixed views on the stock, with target price estimates ranging from $282 to $335.07, and an average rating of "Moderate Buy."

Mizuho Markets Americas LLC trimmed its position in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 66.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 39,908 shares of the basic materials company's stock after selling 79,949 shares during the period. Mizuho Markets Americas LLC's holdings in Air Products and Chemicals were worth $11,770,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Dodge & Cox boosted its holdings in Air Products and Chemicals by 1.0% in the 4th quarter. Dodge & Cox now owns 6,663,154 shares of the basic materials company's stock worth $1,932,581,000 after buying an additional 64,960 shares during the last quarter. Bank of America Corp DE boosted its holdings in Air Products and Chemicals by 129.4% in the 4th quarter. Bank of America Corp DE now owns 5,429,147 shares of the basic materials company's stock worth $1,574,670,000 after buying an additional 3,062,157 shares during the last quarter. Mantle Ridge LP acquired a new stake in Air Products and Chemicals in the 4th quarter worth about $1,191,344,000. Northern Trust Corp boosted its holdings in shares of Air Products and Chemicals by 4.6% during the 4th quarter. Northern Trust Corp now owns 3,583,156 shares of the basic materials company's stock worth $1,039,259,000 after purchasing an additional 156,419 shares during the last quarter. Finally, Royal Bank of Canada boosted its holdings in shares of Air Products and Chemicals by 1.5% during the 4th quarter. Royal Bank of Canada now owns 2,397,210 shares of the basic materials company's stock worth $695,287,000 after purchasing an additional 34,676 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Air Products and Chemicals

In other Air Products and Chemicals news, VP Victoria Brifo sold 1,359 shares of the company's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $292.38, for a total value of $397,344.42. Following the completion of the transaction, the vice president owned 8,686 shares in the company, valued at $2,539,612.68. This represents a 13.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.41% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

APD has been the topic of several recent research reports. Wells Fargo & Company boosted their target price on Air Products and Chemicals from $320.00 to $345.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Morgan Stanley started coverage on Air Products and Chemicals in a report on Thursday, May 29th. They issued an "equal weight" rating and a $290.00 price objective on the stock. Wall Street Zen raised Air Products and Chemicals from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Citigroup boosted their target price on Air Products and Chemicals from $310.00 to $320.00 and gave the company a "buy" rating in a research report on Monday, June 30th. Finally, Royal Bank Of Canada started coverage on Air Products and Chemicals in a research report on Friday, June 13th. They issued an "outperform" rating and a $355.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $335.07.

Air Products and Chemicals Stock Down 1.0%

Shares of APD stock traded down $2.97 on Thursday, reaching $291.24. 530,401 shares of the stock were exchanged, compared to its average volume of 1,315,635. The company has a current ratio of 1.29, a quick ratio of 1.12 and a debt-to-equity ratio of 0.93. The business's 50 day moving average price is $287.09 and its 200 day moving average price is $288.89. The company has a market capitalization of $64.82 billion, a price-to-earnings ratio of 41.90, a PEG ratio of 6.46 and a beta of 0.81. Air Products and Chemicals, Inc. has a twelve month low of $243.69 and a twelve month high of $341.14.

Air Products and Chemicals (NYSE:APD - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The basic materials company reported $3.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.99 by $0.10. Air Products and Chemicals had a net margin of 12.86% and a return on equity of 15.11%. The company had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the prior year, the firm posted $3.20 earnings per share. Air Products and Chemicals's revenue for the quarter was up 1.2% on a year-over-year basis. As a group, 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Wednesday, October 1st will be paid a $1.79 dividend. This represents a $7.16 annualized dividend and a yield of 2.5%. The ex-dividend date 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.