Trading Report: The Air Products and Chemicals Inc. (APD) Position Maintained by Kornitzer Capital Management Inc. KS

The Air Products and Chemicals Inc. (APD) Position Maintained by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS maintained its stake in shares of Air Products and Chemicals Inc. (NYSE:APD) during the second quarter, Holdings Channel reports. The firm owned 53,070 shares of the company’s stock at the end of the second quarter. Kornitzer Capital Management Inc. KS’s holdings in Air Products and Chemicals were worth $7,538,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. BARING ASSET MANAGEMENT Ltd purchased a new stake in shares of Air Products and Chemicals during the second quarter worth approximately $232,000. Eqis Capital Management Inc. raised its stake in shares of Air Products and Chemicals by 9.8% in the second quarter. Eqis Capital Management Inc. now owns 1,682 shares of the company’s stock worth $239,000 after buying an additional 150 shares during the last quarter. Newman Dignan & Sheerar Inc. purchased a new stake in shares of Air Products and Chemicals during the second quarter worth approximately $256,000. Rosenbaum Jay D. raised its stake in shares of Air Products and Chemicals by 38.5% in the second quarter. Rosenbaum Jay D. now owns 1,980 shares of the company’s stock worth $281,000 after buying an additional 550 shares during the last quarter. Finally, Bollard Group LLC raised its stake in shares of Air Products and Chemicals by 0.6% in the second quarter. Bollard Group LLC now owns 2,067 shares of the company’s stock worth $294,000 after buying an additional 12 shares during the last quarter. 88.46% of the stock is owned by institutional investors and hedge funds.

Shares of Air Products and Chemicals Inc. (NYSE:APD) traded down 0.28% during trading on Monday, hitting $132.28. The stock had a trading volume of 797,368 shares. Air Products and Chemicals Inc. has a 52-week low of $106.05 and a 52-week high of $146.01. The stock has a 50 day moving average of $138.60 and a 200 day moving average of $135.83. The firm has a market cap of $28.65 billion, a PE ratio of 49.49 and a beta of 1.23.

Air Products and Chemicals (NYSE:APD) last posted its earnings results on Thursday, July 28th. The company reported $1.92 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.90 by $0.02. The company earned $2.43 billion during the quarter, compared to analyst estimates of $2.41 billion. Air Products and Chemicals had a net margin of 6.12% and a return on equity of 22.00%. Air Products and Chemicals’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.65 earnings per share. On average, equities analysts anticipate that Air Products and Chemicals Inc. will post $7.51 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 14th. Stockholders of record on Monday, October 3rd will be issued a dividend of $0.86 per share. The ex-dividend date is Thursday, October 6th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.60%. Air Products and Chemicals’s dividend payout ratio is currently 128.84%.

A number of analysts recently commented on the company. Citigroup Inc. reaffirmed a “hold” rating on shares of Air Products and Chemicals in a research report on Sunday, July 17th. Zacks Investment Research raised Air Products and Chemicals from a “sell” rating to a “hold” rating in a research report on Monday, July 11th. Jefferies Group reaffirmed a “hold” rating and issued a $155.00 target price on shares of Air Products and Chemicals in a research report on Friday, July 29th. Credit Suisse Group AG set a $163.00 target price on Air Products and Chemicals and gave the company a “buy” rating in a research report on Monday, September 12th. Finally, JPMorgan Chase & Co. raised Air Products and Chemicals from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $140.00 to $160.00 in a research report on Friday, August 12th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. Air Products and Chemicals presently has a consensus rating of “Hold” and a consensus target price of $151.43.

In other Air Products and Chemicals news, SVP John D. Stanley sold 9,597 shares of the firm’s stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $150.00, for a total value of $1,439,550.00. Following the completion of the sale, the senior vice president now directly owns 28,479 shares in the company, valued at $4,271,850. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP John D. Stanley sold 17,247 shares of the firm’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $155.39, for a total transaction of $2,680,011.33. Following the completion of the sale, the senior vice president now owns 36,129 shares of the company’s stock, valued at $5,614,085.31. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Air Products and Chemicals Company Profile

Air Products and Chemicals, Inc is an industrial gases company. The Company’s Industrial Gases business provides atmospheric and process gases and related equipment to manufacturing markets, including refining and petrochemical, metals, electronics, and food and beverage. The Company operates through seven segments: Industrial Gases-Americas, Industrial Gases-Europe, Middle East, and Africa (EMEA), Industrial Gases-Asia, Industrial Gases-Global, Materials Technologies, Energy-from-Waste, and Corporate and other.

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