Air Products and Chemicals, Inc. (NYSE:APD) Stake Lowered by Gulf International Bank UK Ltd

Key Points

• Gulf International Bank UK Ltd has reduced its holdings in Air Products and Chemicals by 22.3%, selling 3,737 shares, and now owns 13,049 shares valued at $3.85 million.
• Institutional investors currently hold 81.66% of Air Products and Chemicals, with Bank of America increasing its stake by 129.4% in the last quarter.
• Air Products and Chemicals reported a quarterly EPS of $3.09, exceeding expectations, while announcing a dividend of $1.79 per share set to be paid on November 10th.

Gulf International Bank UK Ltd lowered its position in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 22.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,049 shares of the basic materials company's stock after selling 3,737 shares during the quarter. Gulf International Bank UK Ltd's holdings in Air Products and Chemicals were worth $3,848,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Baker Avenue Asset Management LP boosted its holdings in Air Products and Chemicals by 2.3% in the fourth quarter. Baker Avenue Asset Management LP now owns 1,540 shares of the basic materials company's stock valued at $447,000 after acquiring an additional 34 shares during the last quarter. West Branch Capital LLC lifted its stake in shares of Air Products and Chemicals by 10.2% during the first quarter. West Branch Capital LLC now owns 421 shares of the basic materials company's stock worth $124,000 after purchasing an additional 39 shares in the last quarter. Kathmere Capital Management LLC lifted its stake in shares of Air Products and Chemicals by 2.6% during the first quarter. Kathmere Capital Management LLC now owns 1,541 shares of the basic materials company's stock worth $454,000 after purchasing an additional 39 shares in the last quarter. Ferguson Wellman Capital Management Inc. lifted its stake in shares of Air Products and Chemicals by 1.6% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 2,499 shares of the basic materials company's stock worth $737,000 after purchasing an additional 40 shares in the last quarter. Finally, Stableford Capital II LLC lifted its stake in shares of Air Products and Chemicals by 1.3% during the first quarter. Stableford Capital II LLC now owns 3,222 shares of the basic materials company's stock worth $950,000 after purchasing an additional 41 shares in the last quarter. Institutional investors and hedge funds own 81.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on APD. Royal Bank Of Canada began 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 on the stock. Morgan Stanley began coverage on Air Products and Chemicals in a research note on Thursday, May 29th. They set an "equal weight" rating and a $290.00 price objective on the stock. Wells Fargo & Company boosted their price objective on Air Products and Chemicals from $320.00 to $345.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. 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, Mizuho boosted their price target on Air Products and Chemicals from $310.00 to $325.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $335.07.

Insiders Place Their Bets

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

Air Products and Chemicals Stock Down 0.6%

Air Products and Chemicals stock traded down $1.64 during midday trading on Friday, hitting $290.53. The stock had a trading volume of 1,033,289 shares, compared to its average volume of 980,574. 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 stock has a market cap of $64.66 billion, a P/E ratio of 41.80, a P/E/G ratio of 6.48 and a beta of 0.81. Air Products and Chemicals, Inc. has a 12 month low of $243.69 and a 12 month high of $341.14. The business has a fifty day moving average price of $287.62 and a 200 day moving average price of $288.13.

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 earnings per share for the quarter, beating the consensus estimate of $2.99 by $0.10. The firm had revenue of $3.02 billion during 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 company earned $3.20 earnings per share. Research analysts predict that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Wednesday, October 1st will be issued a $1.79 dividend. This represents a $7.16 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, October 1st. Air Products and Chemicals's payout ratio is currently 103.02%.

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.