Montag & Caldwell LLC Has $54.85 Million Stake in Air Products & Chemicals, Inc. (NYSE:APD)

Montag & Caldwell LLC trimmed its holdings in Air Products & Chemicals, Inc. (NYSE:APD) by 3.1% in the second quarter, Holdings Channel reports. The fund owned 242,315 shares of the basic materials company’s stock after selling 7,880 shares during the period. Air Products & Chemicals accounts for about 2.8% of Montag & Caldwell LLC’s portfolio, making the stock its 19th biggest position. Montag & Caldwell LLC’s holdings in Air Products & Chemicals were worth $54,853,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of APD. Nordea Investment Management AB grew its stake in Air Products & Chemicals by 358.5% in the first quarter. Nordea Investment Management AB now owns 405,635 shares of the basic materials company’s stock valued at $77,462,000 after acquiring an additional 317,174 shares during the period. First Trust Advisors LP grew its stake in Air Products & Chemicals by 71.7% in the second quarter. First Trust Advisors LP now owns 527,192 shares of the basic materials company’s stock valued at $119,340,000 after acquiring an additional 220,088 shares during the period. Dimensional Fund Advisors LP grew its stake in Air Products & Chemicals by 25.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,044,236 shares of the basic materials company’s stock valued at $167,161,000 after acquiring an additional 212,479 shares during the period. King Luther Capital Management Corp grew its stake in Air Products & Chemicals by 30.2% in the first quarter. King Luther Capital Management Corp now owns 854,276 shares of the basic materials company’s stock valued at $163,133,000 after acquiring an additional 197,958 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Air Products & Chemicals by 7.6% in the fourth quarter. Geode Capital Management LLC now owns 2,636,556 shares of the basic materials company’s stock valued at $421,179,000 after purchasing an additional 187,347 shares in the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

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

APD has been the topic of a number of research reports. Barclays boosted their price target on Air Products & Chemicals from $220.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Sanford C. Bernstein lowered Air Products & Chemicals from an “outperform” rating to a “market perform” rating and set a $225.00 price target on the stock. in a report on Thursday, July 18th. KeyCorp boosted their price target on Air Products & Chemicals from $220.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Deutsche Bank boosted their price target on Air Products & Chemicals from $220.00 to $250.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Vertical Research lowered Air Products & Chemicals from a “buy” rating to a “hold” rating in a report on Thursday, April 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $234.71.

Shares of Air Products & Chemicals stock traded up $2.03 during trading on Thursday, reaching $224.62. The stock had a trading volume of 22,368 shares, compared to its average volume of 1,162,570. The company has a market cap of $49.16 billion, a P/E ratio of 30.24, a price-to-earnings-growth ratio of 2.27 and a beta of 0.84. The business’s fifty day simple moving average is $227.01. Air Products & Chemicals, Inc. has a 52 week low of $148.44 and a 52 week high of $232.47. The company has a quick ratio of 2.09, a current ratio of 2.28 and a debt-to-equity ratio of 0.28.

Air Products & Chemicals (NYSE:APD) last released its earnings results on Thursday, July 25th. The basic materials company reported $2.17 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same quarter in the prior year, the company posted $1.95 earnings per share. Air Products & Chemicals’s revenue was down 1.5% on a year-over-year basis. On average, analysts anticipate that Air Products & Chemicals, Inc. will post 8.24 earnings per share for the current fiscal year.

The business 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 dividend of $1.16 per share. The ex-dividend date is Monday, September 30th. This represents a $4.64 annualized dividend and a yield of 2.07%. Air Products & Chemicals’s payout ratio is presently 62.28%.

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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