American International Group Inc. Sells 387 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

American International Group Inc. cut its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 0.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 63,924 shares of the basic materials company’s stock after selling 387 shares during the period. American International Group Inc.’s holdings in Air Products and Chemicals were worth $15,487,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Venture Visionary Partners LLC lifted its stake in Air Products and Chemicals by 1.5% in the fourth quarter. Venture Visionary Partners LLC now owns 2,907 shares of the basic materials company’s stock worth $796,000 after purchasing an additional 43 shares during the last quarter. Applied Capital LLC FL lifted its stake in Air Products and Chemicals by 2.0% in the fourth quarter. Applied Capital LLC FL now owns 2,223 shares of the basic materials company’s stock worth $609,000 after purchasing an additional 43 shares during the last quarter. Mycio Wealth Partners LLC lifted its stake in Air Products and Chemicals by 0.6% in the fourth quarter. Mycio Wealth Partners LLC now owns 7,044 shares of the basic materials company’s stock worth $1,929,000 after purchasing an additional 44 shares during the last quarter. Wetzel Investment Advisors Inc. lifted its stake in Air Products and Chemicals by 4.2% in the first quarter. Wetzel Investment Advisors Inc. now owns 1,104 shares of the basic materials company’s stock worth $257,000 after purchasing an additional 45 shares during the last quarter. Finally, Insight Folios Inc lifted its stake in Air Products and Chemicals by 3.6% in the first quarter. Insight Folios Inc now owns 1,324 shares of the basic materials company’s stock worth $321,000 after purchasing an additional 46 shares during the last quarter. 81.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

APD has been the subject of several recent analyst reports. UBS Group upped their price objective on shares of Air Products and Chemicals from $257.00 to $268.00 and gave the company a “neutral” rating in a research note on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft lowered shares of Air Products and Chemicals from a “buy” rating to a “hold” rating and dropped their target price for the stock from $310.00 to $280.00 in a report on Monday. Citigroup increased their target price on shares of Air Products and Chemicals from $280.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, July 12th. JPMorgan Chase & Co. dropped their target price on shares of Air Products and Chemicals from $270.00 to $260.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Finally, Barclays increased their target price on shares of Air Products and Chemicals from $245.00 to $290.00 and gave the stock an “equal weight” rating in a report on Monday, June 10th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $289.29.

Air Products and Chemicals Stock Down 0.3 %

Shares of NYSE APD traded down $0.83 on Thursday, reaching $259.37. 492,200 shares of the company’s stock traded hands, compared to its average volume of 1,757,223. Air Products and Chemicals, Inc. has a 12 month low of $212.24 and a 12 month high of $307.71. The business’s 50 day simple moving average is $265.00 and its two-hundred day simple moving average is $249.98. The company has a market cap of $57.66 billion, a price-to-earnings ratio of 23.48, a price-to-earnings-growth ratio of 2.83 and a beta of 0.81. The company has a quick ratio of 1.31, a current ratio of 1.49 and a debt-to-equity ratio of 0.77.

Air Products and Chemicals (NYSE:APD) last announced its earnings results on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter last year, the firm earned $2.74 earnings per share. The business’s revenue for the quarter was down 8.4% on a year-over-year basis. As a group, equities research analysts forecast that Air Products and Chemicals, Inc. will post 12.26 EPS for the current fiscal year.

Air Products and Chemicals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Tuesday, October 1st will be given a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend is Tuesday, October 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 63.90%.

Air Products and Chemicals Profile

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.