Trade Report: The Air Products and Chemicals Inc. (APD) Announces Earnings Results

The Air Products and Chemicals Inc. (APD) Announces  Earnings Results

Air Products and Chemicals Inc. (NYSE:APD) issued its earnings results on Thursday. The company reported $2.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.98 by $0.03. The firm had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.45 billion. Air Products and Chemicals had a return on equity of 22.74% and a net margin of 6.63%. The business’s revenue was up .6% on a year-over-year basis. During the same period in the previous year, the company posted $1.82 earnings per share.

Shares of Air Products and Chemicals (NYSE:APD) opened at 133.81 on Monday. The company’s 50-day moving average price is $135.76 and its 200 day moving average price is $135.89. Air Products and Chemicals has a one year low of $106.05 and a one year high of $146.01. The stock has a market capitalization of $29.06 billion, a PE ratio of 46.30 and a beta of 1.23.

In other news, insider Russell A. Flugel sold 2,050 shares of Air Products and Chemicals stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $151.54, for a total value of $310,657.00. Following the sale, the insider now directly owns 3,131 shares of the company’s stock, valued at $474,471.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John D. Stanley sold 17,247 shares of Air Products and Chemicals stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $155.39, for a total value of $2,680,011.33. Following the completion of the sale, the senior vice president now directly owns 36,129 shares in the company, valued at $5,614,085.31. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Several large investors have recently modified their holdings of APD. FMR LLC boosted its stake in shares of Air Products and Chemicals by 172.3% in the second quarter. FMR LLC now owns 3,058,173 shares of the company’s stock valued at $434,383,000 after buying an additional 1,934,959 shares during the period. Orbis Allan Gray Ltd purchased a new stake in shares of Air Products and Chemicals during the first quarter valued at about $198,943,000. Natixis boosted its stake in shares of Air Products and Chemicals by 2,829.0% in the first quarter. Natixis now owns 960,396 shares of the company’s stock valued at $138,345,000 after buying an additional 927,607 shares during the period. Vanguard Group Inc. boosted its stake in shares of Air Products and Chemicals by 4.6% in the second quarter. Vanguard Group Inc. now owns 14,212,043 shares of the company’s stock valued at $2,018,678,000 after buying an additional 625,648 shares during the period. Finally, Prudential Financial Inc. boosted its stake in shares of Air Products and Chemicals by 131.6% in the second quarter. Prudential Financial Inc. now owns 893,234 shares of the company’s stock valued at $126,875,000 after buying an additional 507,538 shares during the period. 88.46% of the stock is currently owned by hedge funds and other institutional investors.

APD has been the topic of several research reports. Zacks Investment Research lowered Air Products and Chemicals from a “hold” rating to a “sell” rating in a research note on Monday, July 4th. Seaport Global Securities upgraded Air Products and Chemicals from an “accumulate” rating to a “buy” rating and set a $165.00 target price on the stock in a research note on Monday, July 11th. Citigroup Inc. boosted their target price on Air Products and Chemicals from $155.00 to $157.00 and gave the company a “neutral” rating in a research note on Friday, July 15th. Jefferies Group reiterated a “hold” rating and set a $155.00 price objective on shares of Air Products and Chemicals in a research note on Friday, July 29th. Finally, JPMorgan Chase & Co. upgraded Air Products and Chemicals from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $140.00 to $160.00 in a research note on Friday, August 12th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. Air Products and Chemicals currently has an average rating of “Hold” and a consensus price target of $150.46.

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