Ascension Asset Management LLC Sells 50 Shares of Air Products & Chemicals, Inc. (NYSE:APD)

Ascension Asset Management LLC lessened its holdings in Air Products & Chemicals, Inc. (NYSE:APD) by 0.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,675 shares of the basic materials company’s stock after selling 50 shares during the period. Air Products & Chemicals comprises approximately 1.5% of Ascension Asset Management LLC’s holdings, making the stock its 28th biggest position. Ascension Asset Management LLC’s holdings in Air Products & Chemicals were worth $1,737,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of APD. Evermay Wealth Management LLC increased its holdings in Air Products & Chemicals by 3.5% in the 1st quarter. Evermay Wealth Management LLC now owns 1,472 shares of the basic materials company’s stock worth $281,000 after acquiring an additional 50 shares in the last quarter. Trustcore Financial Services LLC increased its holdings in Air Products & Chemicals by 3.2% in the 1st quarter. Trustcore Financial Services LLC now owns 1,610 shares of the basic materials company’s stock worth $307,000 after acquiring an additional 50 shares in the last quarter. Smith Shellnut Wilson LLC ADV increased its holdings in Air Products & Chemicals by 3.3% in the 1st quarter. Smith Shellnut Wilson LLC ADV now owns 1,572 shares of the basic materials company’s stock worth $300,000 after acquiring an additional 50 shares in the last quarter. Canandaigua National Bank & Trust Co. increased its holdings in Air Products & Chemicals by 2.3% in the 1st quarter. Canandaigua National Bank & Trust Co. now owns 2,394 shares of the basic materials company’s stock worth $457,000 after acquiring an additional 53 shares in the last quarter. Finally, Bank OZK increased its holdings in Air Products & Chemicals by 3.5% in the 1st quarter. Bank OZK now owns 1,561 shares of the basic materials company’s stock worth $298,000 after acquiring an additional 53 shares in the last quarter. Hedge funds and other institutional investors own 87.10% of the company’s stock.

In other Air Products & Chemicals news, CEO Seifi Ghasemi bought 20,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was purchased at an average cost of $227.16 per share, with a total value of $4,543,200.00. Following the completion of the acquisition, the chief executive officer now owns 453,783 shares in the company, valued at approximately $103,081,346.28. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Russell A. Flugel sold 2,970 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $207.01, for a total transaction of $614,819.70. Following the completion of the transaction, the vice president now directly owns 6,387 shares of the company’s stock, valued at $1,322,172.87. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

APD traded up $2.76 during trading on Friday, reaching $230.41. 1,033,262 shares of the company traded hands, compared to its average volume of 855,924. The company has a current ratio of 2.36, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. Air Products & Chemicals, Inc. has a 12-month low of $148.44 and a 12-month high of $231.45. The business’s fifty day simple moving average is $224.60. The stock has a market capitalization of $49.50 billion, a P/E ratio of 30.93, a P/E/G ratio of 2.23 and a beta of 0.83.

Air Products & Chemicals (NYSE:APD) last posted its earnings results on Thursday, July 25th. The basic materials company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.03. Air Products & Chemicals had a net margin of 18.90% and a return on equity of 15.28%. The firm had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same period last year, the firm posted $1.95 earnings per share. Air Products & Chemicals’s revenue for the quarter was down 1.5% compared to the same quarter last year. On average, equities research analysts predict that Air Products & Chemicals, Inc. will post 8.22 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 11th. Investors of record on Tuesday, October 1st will be issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Monday, September 30th. Air Products & Chemicals’s dividend payout ratio (DPR) is presently 62.28%.

APD has been the subject of several analyst reports. UBS Group increased their target price on shares of LyondellBasell Industries from $86.00 to $89.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. KeyCorp lowered shares of Steris from an “overweight” rating to a “sector weight” rating in a report on Tuesday, July 9th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Guaranty Federal Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, April 23rd. Deutsche Bank reaffirmed a “buy” rating on shares of Qiagen in a report on Friday. Finally, Bank of America raised shares of Air Products & Chemicals from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $170.00 to $215.00 in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $230.69.

About Air Products & Chemicals

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including 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 or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, electronics, manufacturing, food and beverage, magnetic resonance imaging, energy production and refining, and metals.

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

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