The 13F filings by institutional investors as of March 31 indicate that institutional investors own 87.0% of Air Products and Chemical’s (APD) outstanding shares. At the end of APD’s fiscal second quarter, it had 220.8 million outstanding shares, ~192.2 million of which were held by institutions.
Of the 1,072 institutional investors that held APD, 437 increased their positions, 449 reduced their positions, and 186 maintained their positions in the stock. Though institutional investors were net sellers, the difference between the number of shares bought and the number of shares sold was very small.
Top three holders
The top three institutional investors in APD hold ~23.5% of its outstanding shares. They were net buyers, increasing their total position from 51.0 million shares in the fiscal fourth quarter of 2017 to 51.8 million shares at the end of the fiscal first quarter of 2018. Let’s take a look at the top three institutional investors’ holdings:
- Vanguard added ~213,000 shares of APD, taking its holdings to 18.3 million shares. Its holdings represented ~8.3% of APD’s outstanding shares.
- BlackRock (BLK) bought a little more than half a million shares and held ~18.1 million shares, representing 8.2% of APD’s outstanding shares.
- State Farm Mutual Automobile Insurance Company is the third-largest holder of APD with ~15.4 million shares, representing nearly 7% of APD’s outstanding shares.
Investors can indirectly hold APD by investing in the Invesco DWA Basic Materials Momentum ETF (PYZ), which invests 3.4% of its holdings in Air Products and Chemicals. The fund also provides exposure to LyondellBasell (LYB) and the Chemours Company (CC) at weights of 3.9% and 3.8%, respectively.