Cerebellum GP LLC bought a new stake in Air Products & Chemicals, Inc. (NYSE:APD) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 785 shares of the basic materials company’s stock, valued at approximately $129,000.
Several other large investors also recently added to or reduced their stakes in the stock. Krane Funds Advisors LLC acquired a new position in Air Products & Chemicals during the second quarter worth approximately $26,000. Lenox Wealth Advisors LLC acquired a new position in Air Products & Chemicals during the third quarter worth approximately $27,000. Squar Milner Financial Services LLC increased its position in Air Products & Chemicals by 87.1% during the second quarter. Squar Milner Financial Services LLC now owns 131 shares of the basic materials company’s stock worth $30,000 after buying an additional 61 shares during the last quarter. Assetmark Inc. increased its position in Air Products & Chemicals by 163.0% during the second quarter. Assetmark Inc. now owns 142 shares of the basic materials company’s stock worth $32,000 after buying an additional 88 shares during the last quarter. Finally, Meridian Wealth Management LLC acquired a new position in Air Products & Chemicals during the second quarter worth approximately $43,000. 85.39% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO Seifi Ghasemi bought 20,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were bought at an average price of $227.16 per share, with a total value of $4,543,200.00. Following the completion of the transaction, the chief executive officer now owns 453,783 shares of the company’s stock, valued at $103,081,346.28. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.35% of the stock is currently owned by corporate insiders.
Air Products & Chemicals stock opened at $214.21 on Thursday. Air Products & Chemicals, Inc. has a 12 month low of $148.44 and a 12 month high of $232.47. The stock’s 50 day moving average is $219.79 and its 200-day moving average is $215.74. The company has a current ratio of 2.28, a quick ratio of 2.09 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $47.13 billion, a price-to-earnings ratio of 26.90, a PEG ratio of 1.88 and a beta of 0.85.
Air Products & Chemicals (NYSE:APD) last posted its earnings results on Thursday, July 25th. The basic materials company reported $2.17 EPS for the quarter, beating the consensus estimate of $2.14 by $0.03. Air Products & Chemicals had a return on equity of 15.42% and a net margin of 19.14%. The company had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the prior year, the business earned $1.95 earnings per share. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. As a group, equities research analysts predict that Air Products & Chemicals, Inc. will post 8.24 earnings per share for the current fiscal year.
A number of equities analysts have weighed in on the company. BMO Capital Markets boosted their price target on Air Products & Chemicals from $235.00 to $252.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. HSBC downgraded Air Products & Chemicals from a “buy” rating to a “hold” rating and lowered their price target for the stock from $217.00 to $215.00 in a research report on Thursday, August 1st. Citigroup set a $260.00 price target on Air Products & Chemicals and gave the stock a “buy” rating in a research report on Monday, July 15th. Seaport Global Securities downgraded Air Products & Chemicals from a “buy” rating to a “neutral” rating in a research report on Friday, July 12th. They noted that the move was a valuation call. Finally, Susquehanna Bancshares reissued a “neutral” rating on shares of Air Products & Chemicals in a research report on Monday, August 19th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. Air Products & Chemicals currently has an average rating of “Hold” and a consensus target price of $234.53.
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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