Air Products & Chemicals, Inc. (APD) Position Trimmed by Iridian Asset Management LLC CT
Iridian Asset Management LLC CT trimmed its position in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 37.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,400 shares of the basic materials company’s stock after selling 5,600 shares during the period. Iridian Asset Management LLC CT’s holdings in Air Products & Chemicals were worth $1,570,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in APD. United Capital Management of KS Inc. acquired a new position in Air Products & Chemicals during the 3rd quarter worth $629,000. Bridgewater Associates LP acquired a new position in Air Products & Chemicals during the 2nd quarter worth $513,000. GHP Investment Advisors Inc. grew its holdings in Air Products & Chemicals by 4.1% during the 2nd quarter. GHP Investment Advisors Inc. now owns 15,329 shares of the basic materials company’s stock worth $2,387,000 after acquiring an additional 606 shares in the last quarter. Grandfield & Dodd LLC grew its holdings in Air Products & Chemicals by 0.5% during the 2nd quarter. Grandfield & Dodd LLC now owns 97,860 shares of the basic materials company’s stock worth $15,240,000 after acquiring an additional 500 shares in the last quarter. Finally, Clean Yield Group grew its holdings in Air Products & Chemicals by 18.9% during the 3rd quarter. Clean Yield Group now owns 2,895 shares of the basic materials company’s stock worth $484,000 after acquiring an additional 460 shares in the last quarter. 85.08% of the stock is owned by institutional investors and hedge funds.
In other Air Products & Chemicals news, Chairman Seifi Ghasemi purchased 20,000 shares of the firm’s stock in a transaction dated Monday, November 12th. The stock was acquired at an average cost of $160.11 per share, with a total value of $3,202,200.00. Following the acquisition, the chairman now owns 408,652 shares of the company’s stock, valued at approximately $65,429,271.72. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.37% of the company’s stock.
Air Products & Chemicals (NYSE:APD) last posted its quarterly earnings results on Tuesday, November 6th. The basic materials company reported $2.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.99 by $0.01. Air Products & Chemicals had a net margin of 16.77% and a return on equity of 15.30%. The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same period in the previous year, the business posted $1.76 EPS. The company’s quarterly revenue was up 4.3% on a year-over-year basis. Equities analysts forecast that Air Products & Chemicals, Inc. will post 8.19 EPS for the current year.
Several research analysts have weighed in on APD shares. JPMorgan Chase & Co. decreased their price objective on shares of Air Products & Chemicals from $172.00 to $170.00 and set an “overweight” rating for the company in a report on Friday, July 27th. Credit Suisse Group raised their price objective on shares of Air Products & Chemicals from $182.00 to $188.00 and gave the stock a “buy” rating in a report on Friday, July 27th. BMO Capital Markets reissued a “buy” rating and set a $197.00 price objective (up from $195.00) on shares of Air Products & Chemicals in a report on Friday, July 27th. Zacks Investment Research raised shares of Air Products & Chemicals from a “sell” rating to a “hold” rating and set a $181.00 price objective for the company in a report on Monday, July 30th. Finally, Susquehanna Bancshares raised their price objective on shares of Air Products & Chemicals from $200.00 to $215.00 and gave the stock a “positive” rating in a report on Wednesday, August 1st. Fifteen equities research analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and a consensus target price of $190.08.
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Air Products & Chemicals Profile
Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, electronics and performance materials, 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 metals, glass, chemical processing, electronics, energy production and refining, food processing, metallurgical, medical, and general manufacturing.
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