Invesco Ltd. Decreases Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Key Points

• Invesco Ltd. reduced its stake in Air Products and Chemicals by 0.5%, bringing its holdings down to 1,000,158 shares valued at approximately $294.97 million.
• Air Products and Chemicals reported a quarterly earnings per share of $3.09, surpassing analysts' expectations, with revenue of $3.02 billion for the quarter.
• The company announced a quarterly dividend of $1.79 per share, payable on November 10th, with an annualized yield of 2.5% and a dividend payout ratio of 103.02%.

Invesco Ltd. decreased its stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 0.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,000,158 shares of the basic materials company's stock after selling 4,655 shares during the period. Invesco Ltd. owned 0.45% of Air Products and Chemicals worth $294,967,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Wayfinding Financial LLC bought a new position in Air Products and Chemicals during the first quarter worth about $25,000. Cheviot Value Management LLC bought a new position in Air Products and Chemicals during the first quarter worth about $27,000. Citizens National Bank Trust Department grew 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 purchasing an additional 100 shares during the period. Sunbelt Securities Inc. grew 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 purchasing an additional 142 shares during the period. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Air Products and Chemicals during the fourth quarter worth approximately $50,000. Institutional investors own 81.66% of the company's stock.

Insider Activity

In other news, VP Victoria Brifo sold 1,359 shares of the stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $292.38, for a total transaction of $397,344.42. Following the transaction, the vice president 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.41% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Citigroup lifted 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 report on Monday, June 30th. Morgan Stanley started coverage on shares of Air Products and Chemicals in a report on Thursday, May 29th. They set an "equal weight" rating and a $290.00 price target for the company. Royal Bank Of Canada started coverage on shares of Air Products and Chemicals in a report on Friday, June 13th. They set an "outperform" rating and a $355.00 price target for the company. Wells Fargo & Company upped their price target on shares of Air Products and Chemicals from $320.00 to $345.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Finally, Wall Street Zen upgraded Air Products and Chemicals from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. One research analyst has rated the stock with a sell rating, five have issued 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $335.07.

Air Products and Chemicals Trading Down 0.6%

APD traded down $1.64 during trading on Friday, reaching $290.53. 1,033,289 shares of the stock traded hands, compared to its average volume of 980,574. 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 stock has a market capitalization of $64.66 billion, a PE ratio of 41.80, a P/E/G ratio of 6.48 and a beta of 0.81. The stock's 50-day moving average is $287.62 and its 200 day moving average is $288.13. Air Products and Chemicals, Inc. has a 12 month low of $243.69 and a 12 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, topping analysts' consensus estimates of $2.99 by $0.10. The company had revenue of $3.02 billion for the quarter, compared to analysts' expectations of $2.95 billion. Air Products and Chemicals had a net margin of 12.86% and a return on equity of 15.11%. The business's 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. Equities analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders 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 dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, October 1st. Air Products and Chemicals's dividend payout ratio is 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.