Millennium Management LLC reduced its stake in Air Products & Chemicals, Inc. (NYSE:APD) by 29.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 190,042 shares of the basic materials company’s stock after selling 77,502 shares during the quarter. Millennium Management LLC’s holdings in Air Products & Chemicals were worth $29,595,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in APD. Mount Yale Investment Advisors LLC acquired a new position in shares of Air Products & Chemicals in the 1st quarter worth approximately $114,000. Braun Bostich & Associates Inc. boosted its holdings in shares of Air Products & Chemicals by 542.6% in the 2nd quarter. Braun Bostich & Associates Inc. now owns 739 shares of the basic materials company’s stock worth $115,000 after acquiring an additional 624 shares in the last quarter. Private Capital Group LLC boosted its holdings in shares of Air Products & Chemicals by 2,231.4% in the 1st quarter. Private Capital Group LLC now owns 816 shares of the basic materials company’s stock worth $130,000 after acquiring an additional 781 shares in the last quarter. IMS Capital Management acquired a new position in shares of Air Products & Chemicals in the 2nd quarter worth approximately $146,000. Finally, Vigilant Capital Management LLC acquired a new position in shares of Air Products & Chemicals in the 2nd quarter worth approximately $158,000. Institutional investors own 85.93% of the company’s stock.

NYSE:APD opened at $169.85 on Tuesday. Air Products & Chemicals, Inc. has a 52-week low of $149.94 and a 52-week high of $175.17. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.24 and a current ratio of 2.40. The firm has a market cap of $37.41 billion, a price-to-earnings ratio of 23.66, a PEG ratio of 1.42 and a beta of 1.06.

Air Products & Chemicals (NYSE:APD) last posted its quarterly earnings data on Thursday, July 26th. The basic materials company reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.11. Air Products & Chemicals had a return on equity of 15.15% and a net margin of 17.13%. The firm had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the prior year, the business earned $1.65 EPS. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. analysts expect that Air Products & Chemicals, Inc. will post 7.45 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 12th. Shareholders of record on Monday, October 1st will be issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 2.59%. The ex-dividend date is Friday, September 28th. Air Products & Chemicals’s dividend payout ratio is 69.73%.

Several research analysts have recently commented on APD shares. Vertical Research raised Air Products & Chemicals from a “hold” rating to a “buy” rating in a report on Wednesday, August 29th. BMO Capital Markets reissued a “buy” rating and issued a $197.00 target price (up from $195.00) on shares of Air Products & Chemicals in a report on Friday, July 27th. Deutsche Bank boosted their target price on Air Products & Chemicals from $190.00 to $192.00 and gave the stock a “buy” rating in a report on Tuesday, August 14th. Credit Suisse Group boosted their target price on Air Products & Chemicals from $182.00 to $188.00 and gave the stock a “buy” rating in a report on Friday, July 27th. Finally, Zacks Investment Research raised Air Products & Chemicals from a “sell” rating to a “hold” rating and set a $181.00 target price on the stock in a report on Monday, July 30th. Two analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Air Products & Chemicals currently has an average rating of “Buy” and an average price target of $186.65.

About Air Products & Chemicals

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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Institutional Ownership by Quarter for Air Products & Chemicals (NYSE:APD)

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