PFG Advisors Trims Stake in Air Products and Chemicals, Inc. (NYSE:APD)

PFG Advisors reduced its position in shares of Air Products and Chemicals, Inc. (NYSE:APDGet Rating) by 1.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,506 shares of the basic materials company’s stock after selling 102 shares during the period. PFG Advisors’ holdings in Air Products and Chemicals were worth $1,324,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Connecticut Wealth Management LLC grew its position in shares of Air Products and Chemicals by 1.4% during the 1st quarter. Connecticut Wealth Management LLC now owns 3,014 shares of the basic materials company’s stock valued at $753,000 after purchasing an additional 41 shares in the last quarter. Mascoma Wealth Management LLC grew its position in Air Products and Chemicals by 13.4% in the first quarter. Mascoma Wealth Management LLC now owns 355 shares of the basic materials company’s stock worth $89,000 after acquiring an additional 42 shares in the last quarter. Clearstead Advisors LLC grew its position in Air Products and Chemicals by 0.7% in the first quarter. Clearstead Advisors LLC now owns 6,316 shares of the basic materials company’s stock worth $1,578,000 after acquiring an additional 44 shares in the last quarter. Carolinas Wealth Consulting LLC grew its position in Air Products and Chemicals by 25.6% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 221 shares of the basic materials company’s stock worth $67,000 after acquiring an additional 45 shares in the last quarter. Finally, Field & Main Bank grew its position in Air Products and Chemicals by 1.8% in the first quarter. Field & Main Bank now owns 2,562 shares of the basic materials company’s stock worth $640,000 after acquiring an additional 45 shares in the last quarter. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on APD shares. UBS Group cut their target price on shares of Air Products and Chemicals from $321.00 to $295.00 in a research report on Wednesday, July 13th. Cowen cut their price target on shares of Air Products and Chemicals from $345.00 to $305.00 in a research report on Tuesday, July 19th. Citigroup upped their price target on shares of Air Products and Chemicals to $272.00 in a research report on Monday, August 15th. BMO Capital Markets upgraded shares of Air Products and Chemicals from a “market perform” rating to an “outperform” rating and upped their price target for the company from $283.00 to $321.00 in a research report on Monday, August 15th. Finally, Bank of America cut their price target on shares of Air Products and Chemicals from $272.00 to $271.00 and set a “neutral” rating for the company in a research report on Wednesday, July 13th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $292.56.

Air Products and Chemicals Stock Performance

Shares of NYSE:APD opened at $241.46 on Thursday. Air Products and Chemicals, Inc. has a 12 month low of $216.24 and a 12 month high of $316.39. The company has a market cap of $53.56 billion, a price-to-earnings ratio of 23.53, a price-to-earnings-growth ratio of 1.70 and a beta of 0.79. The company has a 50-day moving average price of $251.42 and a 200-day moving average price of $244.28. The company has a current ratio of 1.87, a quick ratio of 1.72 and a debt-to-equity ratio of 0.48.

Air Products and Chemicals (NYSE:APDGet Rating) last released its quarterly earnings results on Thursday, August 4th. The basic materials company reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.61 by $0.01. Air Products and Chemicals had a net margin of 19.08% and a return on equity of 15.61%. The company had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.02 billion. During the same period in the prior year, the firm earned $2.31 earnings per share. Air Products and Chemicals’s revenue was up 22.4% on a year-over-year basis. As a group, equities analysts anticipate that Air Products and Chemicals, Inc. will post 10.29 EPS for the current year.

Air Products and Chemicals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 14th. Shareholders of record on Monday, October 3rd will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date is Friday, September 30th. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 63.16%.

Air Products and Chemicals Profile

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Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas; 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, manufacturing, food and beverage, electronics, magnetic resonance imaging, energy production and refining, and metals.

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

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