US Asset Management LLC Decreases Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

US Asset Management LLC cut its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 4.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,496 shares of the basic materials company’s stock after selling 109 shares during the period. US Asset Management LLC’s holdings in Air Products and Chemicals were worth $644,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Cape Investment Advisory Inc. grew its stake in Air Products and Chemicals by 1.0% in the 1st quarter. Cape Investment Advisory Inc. now owns 3,740 shares of the basic materials company’s stock valued at $906,000 after acquiring an additional 37 shares during the last quarter. First Citizens Bank & Trust Co. lifted its holdings in shares of Air Products and Chemicals by 0.4% in the second quarter. First Citizens Bank & Trust Co. now owns 10,906 shares of the basic materials company’s stock valued at $2,814,000 after purchasing an additional 39 shares in the last quarter. Verdence Capital Advisors LLC grew its position in shares of Air Products and Chemicals by 2.3% in the second quarter. Verdence Capital Advisors LLC now owns 1,763 shares of the basic materials company’s stock valued at $455,000 after purchasing an additional 39 shares during the last quarter. Stokes Family Office LLC increased its stake in shares of Air Products and Chemicals by 3.4% during the 2nd quarter. Stokes Family Office LLC now owns 1,213 shares of the basic materials company’s stock worth $313,000 after purchasing an additional 40 shares in the last quarter. Finally, Invesco LLC raised its position in shares of Air Products and Chemicals by 2.6% during the 2nd quarter. Invesco LLC now owns 1,581 shares of the basic materials company’s stock worth $408,000 after purchasing an additional 40 shares during the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Trading Up 1.5 %

APD stock opened at $284.20 on Friday. Air Products and Chemicals, Inc. has a 52 week low of $212.24 and a 52 week high of $307.71. The company has a market cap of $63.18 billion, a price-to-earnings ratio of 25.65, a PEG ratio of 3.70 and a beta of 0.82. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.77. The business has a fifty day simple moving average of $271.06 and a 200-day simple moving average of $257.66.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings results on Thursday, August 1st. The basic materials company reported $3.20 EPS for the quarter, topping the consensus estimate of $3.04 by $0.16. The company had revenue of $2.99 billion during the quarter, compared to analyst estimates of $3.04 billion. Air Products and Chemicals had a return on equity of 16.53% and a net margin of 21.24%. On average, equities research analysts expect that Air Products and Chemicals, Inc. will post 12.32 EPS for the current year.

Air Products and Chemicals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Tuesday, October 1st will be given a dividend of $1.77 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $7.08 dividend on an annualized basis and a yield of 2.49%. Air Products and Chemicals’s dividend payout ratio (DPR) is 63.90%.

Analysts Set New Price Targets

A number of brokerages have commented on APD. StockNews.com cut Air Products and Chemicals from a “hold” rating to a “sell” rating in a report on Friday, September 6th. JPMorgan Chase & Co. increased their price objective on Air Products and Chemicals from $300.00 to $340.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. The Goldman Sachs Group boosted their target price on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Citigroup raised their price target on shares of Air Products and Chemicals from $280.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Finally, BMO Capital Markets boosted their price objective on shares of Air Products and Chemicals from $300.00 to $323.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $297.40.

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.