Vista Capital Partners Inc. Buys New Stake in Air Products & Chemicals, Inc. (NYSE:APD)
Vista Capital Partners Inc. bought a new stake in shares of Air Products & Chemicals, Inc. (NYSE:APD) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,705 shares of the basic materials company’s stock, valued at approximately $839,000. Air Products & Chemicals comprises approximately 0.2% of Vista Capital Partners Inc.’s portfolio, making the stock its 23rd largest holding.
A number of other institutional investors also recently modified their holdings of APD. IMA Wealth Inc. increased its stake in Air Products & Chemicals by 285.7% during the 1st quarter. IMA Wealth Inc. now owns 135 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 100 shares in the last quarter. Field & Main Bank acquired a new stake in shares of Air Products & Chemicals in the first quarter worth $27,000. Advisory Alpha LLC acquired a new stake in shares of Air Products & Chemicals in the first quarter worth $29,000. Squar Milner Financial Services LLC increased its stake in shares of Air Products & Chemicals by 87.1% in the second quarter. Squar Milner Financial Services LLC now owns 131 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 61 shares during the period. Finally, Destination Wealth Management acquired a new stake in shares of Air Products & Chemicals in the first quarter worth $40,000. Institutional investors and hedge funds own 86.52% of the company’s stock.
APD stock traded up $2.49 during midday trading on Wednesday, hitting $228.22. 21,019 shares of the stock traded hands, compared to its average volume of 1,140,434. The firm has a market cap of $50.41 billion, a P/E ratio of 30.64, a PEG ratio of 2.29 and a beta of 0.84. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.28 and a quick ratio of 2.09. The stock’s fifty day simple moving average is $227.30 and its 200-day simple moving average is $204.05. Air Products & Chemicals, Inc. has a 1-year low of $148.44 and a 1-year high of $232.47.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 11th. Investors of record on Tuesday, October 1st will be given a dividend of $1.16 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $4.64 annualized dividend and a yield of 2.03%. Air Products & Chemicals’s dividend payout ratio is presently 62.28%.
A number of research firms have recently weighed in on APD. Vertical Research lowered shares of Air Products & Chemicals from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. Deutsche Bank increased their price objective on shares of Air Products & Chemicals from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Morgan Stanley increased their price objective on shares of Air Products & Chemicals from $168.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. BMO Capital Markets increased their price objective on shares of Air Products & Chemicals from $235.00 to $252.00 and gave the stock an “outperform” rating in a research note on Monday, August 12th. Finally, Susquehanna Bancshares reiterated a “neutral” rating on shares of Air Products & Chemicals in a research note on Monday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $234.71.
In other news, CEO Seifi Ghasemi purchased 20,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were bought at an average price of $227.16 per share, for a total transaction of $4,543,200.00. Following the completion of the transaction, the chief executive officer now owns 453,783 shares in the company, valued at $103,081,346.28. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.35% of the stock is currently owned by company insiders.
Air Products & Chemicals Profile
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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