LGT Group Foundation Has $1.90 Million Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Key Points

• LGT Group Foundation increased its stake in Air Products and Chemicals, Inc. by 21.4%, acquiring 6,430 shares valued at approximately $1.90 million.
• Various institutional investors have recently acquired positions in Air Products, leading to a total of 81.66% of the stock being held by institutional investors and hedge funds.
• The company's quarterly earnings report revealed an EPS of $3.09, exceeding analysts' expectations, accompanied by a dividend announcement of $1.79 per share.

LGT Group Foundation boosted its holdings in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 21.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,430 shares of the basic materials company's stock after acquiring an additional 1,135 shares during the period. LGT Group Foundation's holdings in Air Products and Chemicals were worth $1,896,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in APD. Brighton Jones LLC raised its stake in Air Products and Chemicals by 14.5% in the 4th quarter. Brighton Jones LLC now owns 3,260 shares of the basic materials company's stock valued at $945,000 after acquiring an additional 412 shares during the period. Synovus Financial Corp raised its stake in Air Products and Chemicals by 65.8% in the 4th quarter. Synovus Financial Corp now owns 10,798 shares of the basic materials company's stock valued at $3,132,000 after acquiring an additional 4,284 shares during the period. Mariner LLC raised its stake in Air Products and Chemicals by 5.7% in the 4th quarter. Mariner LLC now owns 227,967 shares of the basic materials company's stock valued at $66,119,000 after acquiring an additional 12,209 shares during the period. CreativeOne Wealth LLC raised its stake in Air Products and Chemicals by 16.3% in the 4th quarter. CreativeOne Wealth LLC now owns 1,709 shares of the basic materials company's stock valued at $496,000 after acquiring an additional 240 shares during the period. Finally, LaSalle St. Investment Advisors LLC raised its stake in Air Products and Chemicals by 9.5% in the 4th quarter. LaSalle St. Investment Advisors LLC now owns 1,575 shares of the basic materials company's stock valued at $456,000 after acquiring an additional 137 shares during the period. Institutional investors own 81.66% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on APD shares. Wall Street Zen upgraded Air Products and Chemicals from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Royal Bank Of Canada started coverage on Air Products and Chemicals in a research report on Friday, June 13th. They set an "outperform" rating and a $355.00 price objective on the stock. Morgan Stanley started coverage on Air Products and Chemicals in a research report on Thursday, May 29th. They set an "equal weight" rating and a $290.00 price objective on the stock. Wells Fargo & Company increased their price objective on Air Products and Chemicals from $320.00 to $345.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Finally, Citigroup increased their price objective on Air Products and Chemicals from $310.00 to $320.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. 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 given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $335.07.

Air Products and Chemicals Price Performance

Shares of NYSE APD traded down $1.64 during mid-day trading on Friday, reaching $290.53. The company had a trading volume of 1,033,289 shares, compared to its average volume of 980,574. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.12 and a current ratio of 1.29. Air Products and Chemicals, Inc. has a one year low of $243.69 and a one year high of $341.14. The firm has a market cap of $64.66 billion, a price-to-earnings ratio of 41.80, a PEG ratio of 6.52 and a beta of 0.81. The business's 50-day simple moving average is $287.62 and its 200 day simple moving average is $288.40.

Air Products and Chemicals (NYSE:APD - Get Free Report) last issued its quarterly earnings results 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 for the quarter, compared to analysts' expectations 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 revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the business earned $3.20 earnings per share. On average, research analysts predict 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 firm also recently disclosed 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 of this dividend is Wednesday, October 1st. This represents a $7.16 annualized dividend and a yield of 2.5%. Air Products and Chemicals's dividend payout ratio (DPR) is 103.02%.

Insiders Place Their Bets

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

About Air Products and Chemicals

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.