Vanguard Group Inc. Sells 70,231 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Key Points

• Vanguard Group Inc. has reduced its stake in Air Products and Chemicals by 0.3% by selling 70,231 shares, and now owns 21,414,945 shares valued at approximately $6.31 billion.
• Air Products and Chemicals reported an earnings per share (EPS) of $3.09 for the last quarter, exceeding expectations by $0.10, with a revenue of $3.02 billion, also surpassing analysts' forecasts.
• The company has announced a quarterly dividend of $1.79 to be paid to shareholders as of October 1st, with a current payout ratio of 103.02%.

Vanguard Group Inc. trimmed its position in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 0.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,414,945 shares of the basic materials company's stock after selling 70,231 shares during the period. Vanguard Group Inc. owned approximately 9.62% of Air Products and Chemicals worth $6,315,696,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Dodge & Cox lifted its position in shares of Air Products and Chemicals by 1.0% in the 4th quarter. Dodge & Cox now owns 6,663,154 shares of the basic materials company's stock worth $1,932,581,000 after acquiring an additional 64,960 shares during the period. Bank of America Corp DE lifted its holdings in shares of Air Products and Chemicals by 129.4% during the 4th 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 acquiring an additional 3,062,157 shares during the period. Mantle Ridge LP bought a new position in shares of Air Products and Chemicals during the 4th quarter worth about $1,191,344,000. Northern Trust Corp lifted its holdings in shares of Air Products and Chemicals by 4.6% during the 4th quarter. Northern Trust Corp now owns 3,583,156 shares of the basic materials company's stock worth $1,039,259,000 after acquiring an additional 156,419 shares during the period. Finally, Royal Bank of Canada lifted its stake 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 purchasing an additional 34,676 shares during the period. 81.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, VP Victoria Brifo sold 1,359 shares of the company'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 owned 8,686 shares in the company, valued at approximately $2,539,612.68. This represents a 13.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.41% of the company's stock.

Air Products and Chemicals Trading Down 1.3%

Shares of APD stock traded down $3.87 on Monday, reaching $284.88. 182,261 shares of the stock were exchanged, compared to its average volume of 1,319,085. The stock has a market cap of $63.40 billion, a PE ratio of 40.96, a P/E/G ratio of 6.44 and a beta of 0.81. Air Products and Chemicals, Inc. has a one year low of $243.69 and a one year high of $341.14. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.29 and a quick ratio of 1.12. The stock has a 50 day moving average price of $286.59 and a 200 day moving average price of $289.17.

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, topping the consensus estimate of $2.99 by $0.10. The firm had revenue of $3.02 billion during 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%. The company's quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the business posted $3.20 EPS. Equities research analysts forecast that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Air Products and Chemicals Announces Dividend

The business 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 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Wednesday, October 1st. Air Products and Chemicals's dividend payout ratio is currently 103.02%.

Analysts Set New Price Targets

APD has been the subject of several analyst reports. Barclays cut their target price on Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Royal Bank Of Canada initiated coverage on Air Products and Chemicals in a report on Friday, June 13th. They set an "outperform" rating and a $355.00 price objective for the company. Mizuho lifted their price objective on Air Products and Chemicals from $310.00 to $325.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. 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 report on Monday, June 30th. Finally, Bank of America downgraded shares of Air Products and Chemicals from a "neutral" rating to an "underperform" rating and cut their price target for the company from $330.00 to $282.00 in a 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 assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $335.07.

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.