SeaBridge Investment Advisors LLC Sells 1,389 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

SeaBridge Investment Advisors LLC decreased its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 21.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,109 shares of the basic materials company’s stock after selling 1,389 shares during the period. SeaBridge Investment Advisors LLC’s holdings in Air Products and Chemicals were worth $1,470,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Capital International Investors grew its position in Air Products and Chemicals by 14.0% in the first quarter. Capital International Investors now owns 7,140,275 shares of the basic materials company’s stock worth $2,008,912,000 after acquiring an additional 878,022 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Air Products and Chemicals by 2.1% in the 1st quarter. Geode Capital Management LLC now owns 3,457,570 shares of the basic materials company’s stock worth $970,200,000 after purchasing an additional 69,469 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Air Products and Chemicals by 5.4% during the 1st quarter. Bank of New York Mellon Corp now owns 3,057,880 shares of the basic materials company’s stock valued at $860,302,000 after purchasing an additional 156,946 shares during the last quarter. Neuberger Berman Group LLC raised its holdings in shares of Air Products and Chemicals by 16.6% during the 1st quarter. Neuberger Berman Group LLC now owns 2,163,954 shares of the basic materials company’s stock valued at $608,596,000 after buying an additional 308,787 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in Air Products and Chemicals by 10.6% in the 1st quarter. Janus Henderson Group PLC now owns 2,089,272 shares of the basic materials company’s stock worth $587,824,000 after buying an additional 200,914 shares during the last quarter. Hedge funds and other institutional investors own 80.23% of the company’s stock.

A number of equities research analysts have recently weighed in on APD shares. Susquehanna Bancshares upgraded shares of Air Products and Chemicals to a “positive” rating and boosted their price objective for the stock from $240.00 to $350.00 in a report on Friday, June 11th. Susquehanna raised Air Products and Chemicals from a “neutral” rating to a “positive” rating and boosted their target price for the company from $240.00 to $350.00 in a research note on Friday, June 11th. Cowen decreased their price target on Air Products and Chemicals from $360.00 to $335.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 10th. BMO Capital Markets cut their target price on shares of Air Products and Chemicals from $332.00 to $312.00 and set an “outperform” rating on the stock in a report on Wednesday, August 11th. They noted that the move was a valuation call. Finally, Societe Generale raised their price target on shares of Air Products and Chemicals from $295.00 to $334.00 and gave the stock a “buy” rating in a report on Tuesday, June 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $313.24.

Shares of APD traded down $0.28 during mid-day trading on Wednesday, reaching $268.58. The company had a trading volume of 6,903 shares, compared to its average volume of 1,000,185. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.94 and a current ratio of 3.11. The company has a market capitalization of $59.45 billion, a price-to-earnings ratio of 30.24, a price-to-earnings-growth ratio of 2.83 and a beta of 0.74. The firm has a 50-day moving average price of $279.46 and a 200 day moving average price of $285.04. Air Products and Chemicals, Inc. has a 52 week low of $245.75 and a 52 week high of $327.89.

Air Products and Chemicals (NYSE:APD) last released its earnings results on Sunday, August 8th. The basic materials company reported $2.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.36 by ($0.05). Air Products and Chemicals had a return on equity of 14.84% and a net margin of 20.15%. The company had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same period last year, the firm posted $2.01 earnings per share. The company’s revenue was up 26.1% compared to the same quarter last year. As a group, research analysts forecast that Air Products and Chemicals, Inc. will post 9.01 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 8th. Shareholders of record on Friday, October 1st will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Thursday, September 30th. This represents a $6.00 dividend on an annualized basis and a yield of 2.23%. Air Products and Chemicals’s dividend payout ratio is currently 71.60%.

Air Products and Chemicals Profile

Air Products & Chemicals, Inc engages in the manufacture and distribution of atmospheric gases. It operates through the following segments: Industrial Gases-Americas, Industrial Gases-EMEA (Europe, Middle East, and Africa), Industrial Gases-Asia, Industrial Gases-Global and Corporate and Other. The Industrial Gases-America, EMEA and Asia segment markets and produces atmospheric gases such as oxygen, nitrogen, argon, and rare gases, process gases such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas and specialty gases and equipment for the production and processing of gases such as air separation units and non-cryogenic generators.

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Institutional Ownership by Quarter for Air Products and Chemicals (NYSE:APD)

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