Swiss National Bank Cuts Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Key Points

• Swiss National Bank reduced its stake in Air Products and Chemicals by 0.1% in the 1st quarter, now owning 627,200 shares worth approximately $184.97 million.
• Air Products and Chemicals reported an earnings per share (EPS) of $3.09 for the last quarter, exceeding analysts' estimates of $2.99, with revenue of $3.02 billion.
• The company announced a quarterly dividend of $1.79 per share, with an annualized dividend yield of 2.5%, set to be paid on November 10th.

Swiss National Bank trimmed its position in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 0.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 627,200 shares of the basic materials company's stock after selling 900 shares during the quarter. Swiss National Bank owned 0.28% of Air Products and Chemicals worth $184,974,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in APD. Dodge & Cox grew its position in Air Products and Chemicals by 1.0% during the fourth quarter. Dodge & Cox now owns 6,663,154 shares of the basic materials company's stock worth $1,932,581,000 after buying an additional 64,960 shares during the period. Bank of America Corp DE grew its position in Air Products and Chemicals by 129.4% during the fourth quarter. Bank of America Corp DE now owns 5,429,147 shares of the basic materials company's stock worth $1,574,670,000 after buying an additional 3,062,157 shares during the period. Mantle Ridge LP acquired a new position in Air Products and Chemicals during the fourth quarter worth about $1,191,344,000. Northern Trust Corp grew its position in Air Products and Chemicals by 4.6% during the fourth quarter. Northern Trust Corp now owns 3,583,156 shares of the basic materials company's stock worth $1,039,259,000 after buying an additional 156,419 shares during the period. Finally, Royal Bank of Canada grew its position in Air Products and Chemicals by 1.5% during the fourth quarter. Royal Bank of Canada now owns 2,397,210 shares of the basic materials company's stock worth $695,287,000 after buying an additional 34,676 shares during the period. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Air Products and Chemicals Trading Up 0.9%

Shares of APD traded up $2.55 on Wednesday, hitting $291.82. 324,537 shares of the stock traded hands, compared to its average volume of 1,316,973. 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 firm has a market capitalization of $64.95 billion, a P/E ratio of 42.01, a P/E/G ratio of 6.34 and a beta of 0.81. The stock's 50 day moving average is $286.82 and its two-hundred day moving average is $288.85. Air Products and Chemicals, Inc. has a 1 year low of $243.69 and a 1 year high of $341.14.

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 (EPS) for the quarter, beating the consensus estimate of $2.99 by $0.10. The business had revenue of $3.02 billion for 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%. The company's quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.20 earnings per share. As a group, sell-side analysts predict that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Wednesday, October 1st will be paid a dividend of $1.79 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $7.16 dividend on an annualized basis and a yield of 2.5%. Air Products and Chemicals's dividend payout ratio (DPR) is currently 103.02%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on APD. UBS Group upped their target price on shares of Air Products and Chemicals from $328.00 to $344.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Wall Street Zen upgraded shares of Air Products and Chemicals from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Morgan Stanley initiated coverage on shares of Air Products and Chemicals in a research report on Thursday, May 29th. They set an "equal weight" rating and a $290.00 target price on the stock. Mizuho increased their price target on shares of Air Products and Chemicals from $310.00 to $325.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Finally, Bank of America lowered shares of Air Products and Chemicals from a "neutral" rating to an "underperform" rating and lowered their price target for the company from $330.00 to $282.00 in a research report on Tuesday, April 15th. 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's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $335.07.

Insiders Place Their Bets

In other Air Products and Chemicals news, VP Victoria Brifo sold 1,359 shares of the stock in a transaction that occurred on 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 trade represents a 13.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.41% of the stock is currently owned by corporate 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.