Fayez Sarofim & Co Lowers Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Key Points

• Fayez Sarofim & Co reduced its stake in Air Products and Chemicals by 15.7%, selling 42,755 shares to hold a total of 230,156 shares worth approximately $67.9 million.
• Air Products and Chemicals reported earnings of $3.09 EPS for the last quarter, beating estimates and showing a marginal revenue increase of 1.2% year-over-year.
• The company will pay a quarterly dividend of $1.79 on November 10th, with a dividend yield of 2.5% and a payout ratio of 103.02%.

Fayez Sarofim & Co lessened its position in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 15.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 230,156 shares of the basic materials company's stock after selling 42,755 shares during the period. Fayez Sarofim & Co owned about 0.10% of Air Products and Chemicals worth $67,878,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Parvin Asset Management LLC purchased a new position in Air Products and Chemicals in the fourth quarter valued at $715,000. Ritholtz Wealth Management increased its holdings in Air Products and Chemicals by 20.9% in the first quarter. Ritholtz Wealth Management now owns 1,603 shares of the basic materials company's stock valued at $473,000 after buying an additional 277 shares during the last quarter. Mantle Ridge LP purchased a new position in Air Products and Chemicals in the fourth quarter valued at $1,191,344,000. GAMMA Investing LLC increased its holdings in Air Products and Chemicals by 8.0% in the first quarter. GAMMA Investing LLC now owns 4,238 shares of the basic materials company's stock valued at $1,250,000 after buying an additional 314 shares during the last quarter. Finally, Capital International Investors purchased a new position in Air Products and Chemicals in the fourth quarter valued at $436,636,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Performance

NYSE:APD traded down $0.01 during trading hours on Friday, reaching $288.55. 1,372,207 shares of the company's stock were exchanged, compared to its average volume of 932,117. The firm has a market capitalization of $64.22 billion, a price-to-earnings ratio of 41.52, a P/E/G ratio of 6.44 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. Air Products and Chemicals, Inc. has a 1-year low of $243.69 and a 1-year high of $341.14. The company has a 50-day moving average of $286.59 and a 200 day moving average of $289.60.

Air Products and Chemicals (NYSE:APD - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The basic materials company reported $3.09 EPS for the quarter, topping analysts' consensus estimates of $2.99 by $0.10. The company 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%. Air Products and Chemicals's quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.20 EPS. Research analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Announces Dividend

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 paid a $1.79 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.5%. Air Products and Chemicals's payout ratio is 103.02%.

Insider Buying and Selling at Air Products and Chemicals

In related news, VP Victoria Brifo sold 1,359 shares of the firm's stock in a transaction dated 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 sale, the vice president owned 8,686 shares in the company, valued at $2,539,612.68. This trade represents a 13.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.41% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Royal Bank Of Canada initiated coverage on Air Products and Chemicals in a report on Friday, June 13th. They issued an "outperform" rating and a $355.00 target price on the stock. Barclays lowered their target price on shares of Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Wall Street Zen upgraded shares of Air Products and Chemicals from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Mizuho upped their target price on shares of Air Products and Chemicals from $310.00 to $325.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Finally, UBS Group upped their target price 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Air Products and Chemicals presently has a consensus rating of "Moderate Buy" and a consensus price target of $335.07.

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.