Rathbones Group PLC Reduces Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Key Points

• Rathbones Group PLC has reduced its holdings in Air Products and Chemicals, Inc. by 22.7%, selling 13,089 shares during the first quarter, leaving them with 44,486 shares valued at approximately $13.12 million.
• Several large investors have increased their positions in the company, with Bank of America Corp DE significantly boosting its holdings by 129.4% in the fourth quarter.
• The company reported a better-than-expected quarterly earnings per share of $3.09, surpassing the consensus estimate by $0.10, along with a quarterly revenue of $3.02 billion.

Rathbones Group PLC cut its position in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 22.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,486 shares of the basic materials company's stock after selling 13,089 shares during the quarter. Rathbones Group PLC's holdings in Air Products and Chemicals were worth $13,120,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of APD. Baker Avenue Asset Management LP lifted its position in Air Products and Chemicals by 2.3% in the 4th 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 in the last quarter. West Branch Capital LLC boosted its holdings in shares of Air Products and Chemicals by 10.2% during the 1st quarter. West Branch Capital LLC now owns 421 shares of the basic materials company's stock valued at $124,000 after acquiring an additional 39 shares during the last quarter. Kathmere Capital Management LLC boosted its holdings in shares of Air Products and Chemicals by 2.6% during the 1st quarter. Kathmere Capital Management LLC now owns 1,541 shares of the basic materials company's stock valued at $454,000 after acquiring an additional 39 shares during the last quarter. Ferguson Wellman Capital Management Inc. boosted its holdings in shares of Air Products and Chemicals by 1.6% during the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 2,499 shares of the basic materials company's stock valued at $737,000 after acquiring an additional 40 shares during the last quarter. Finally, Stableford Capital II LLC boosted its holdings in shares of Air Products and Chemicals by 1.3% during the 1st quarter. Stableford Capital II LLC now owns 3,222 shares of the basic materials company's stock valued at $950,000 after acquiring an additional 41 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Victoria Brifo sold 1,359 shares of the business'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 sale, the vice president owned 8,686 shares in the company, valued at approximately $2,539,612.68. The trade was a 13.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.41% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Wall Street Zen raised shares of Air Products and Chemicals from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Citigroup raised 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 report on Monday, June 30th. Barclays dropped their price target on shares of Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Mizuho raised their price objective on shares of Air Products and Chemicals from $310.00 to $325.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Finally, Wells Fargo & Company raised their price objective 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $335.07.

Air Products and Chemicals Price Performance

Shares of Air Products and Chemicals stock traded down $1.64 on Friday, hitting $290.53. 1,033,289 shares of the company traded hands, compared to its average volume of 980,574. The stock has a market capitalization of $64.66 billion, a P/E ratio of 41.80, a price-to-earnings-growth ratio of 6.48 and a beta of 0.81. 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 52 week low of $243.69 and a 52 week high of $341.14. The business has a 50-day simple moving average of $287.62 and a 200 day simple moving average of $288.13.

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. The firm 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 company's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $3.20 earnings per share. Research 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 firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Wednesday, October 1st will be given 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 payout ratio is currently 103.02%.

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.