Commerce Bank Trims Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Commerce Bank reduced its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 4.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,597 shares of the basic materials company’s stock after selling 2,122 shares during the period. Commerce Bank’s holdings in Air Products and Chemicals were worth $11,531,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of APD. Boomfish Wealth Group LLC raised its holdings in Air Products and Chemicals by 26.0% during the first quarter. Boomfish Wealth Group LLC now owns 5,573 shares of the basic materials company’s stock valued at $1,350,000 after acquiring an additional 1,150 shares during the period. Comprehensive Financial Consultants Institutional Inc. raised its stake in Air Products and Chemicals by 10.2% during the 1st quarter. Comprehensive Financial Consultants Institutional Inc. now owns 12,025 shares of the basic materials company’s stock valued at $2,913,000 after purchasing an additional 1,113 shares during the period. Central Pacific Bank Trust Division purchased a new position in Air Products and Chemicals in the 1st quarter worth approximately $3,051,000. Franklin Parlapiano Turner & Welch LLC boosted its stake in Air Products and Chemicals by 5.0% in the 1st quarter. Franklin Parlapiano Turner & Welch LLC now owns 28,542 shares of the basic materials company’s stock worth $6,915,000 after purchasing an additional 1,360 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in Air Products and Chemicals by 2.2% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 5,836 shares of the basic materials company’s stock valued at $1,414,000 after buying an additional 125 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors.

Air Products and Chemicals Trading Up 0.3 %

Shares of NYSE APD traded up $0.65 during mid-day trading on Wednesday, reaching $255.35. The company had a trading volume of 1,381,813 shares, compared to its average volume of 1,766,624. The stock has a market cap of $56.77 billion, a price-to-earnings ratio of 23.09, a price-to-earnings-growth ratio of 2.76 and a beta of 0.81. Air Products and Chemicals, Inc. has a 52 week low of $212.24 and a 52 week high of $307.71. The business’s 50-day moving average is $262.09 and its 200-day moving average is $250.78. The company has a current ratio of 1.49, a quick ratio of 1.31 and a debt-to-equity ratio of 0.77.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.15. Air Products and Chemicals had a net margin of 20.32% and a return on equity of 16.56%. The company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $3.05 billion. During the same period in the previous year, the company earned $2.74 EPS. The firm’s quarterly revenue was down 8.4% on a year-over-year basis. Equities analysts expect that Air Products and Chemicals, Inc. will post 12.3 earnings per share for the current year.

Air Products and Chemicals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 12th. Stockholders of record on Monday, July 1st will be given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend is Monday, July 1st. Air Products and Chemicals’s payout ratio is 63.90%.

Analysts Set New Price Targets

APD has been the subject of several research analyst reports. StockNews.com raised shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a research note on Saturday, June 29th. TD Cowen boosted their target price on Air Products and Chemicals from $305.00 to $320.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Bank of America raised their price target on Air Products and Chemicals from $275.00 to $312.00 and gave the company a “buy” rating in a report on Monday, June 10th. Deutsche Bank Aktiengesellschaft increased their target price on Air Products and Chemicals from $260.00 to $310.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Air Products and Chemicals from $270.00 to $260.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Air Products and Chemicals presently has an average rating of “Hold” and a consensus price target of $289.21.

About Air Products and Chemicals

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and related services in the Americas, Asia, Europe, the Middle East, India, and internationally. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, and syngas; and specialty gases for customers in various industries, including refining, chemical, manufacturing, electronics, energy production, medical, food, and metals.