Air Products and Chemicals, Inc. (NYSE:APD) Stock Position Lessened by Prosperity Consulting Group LLC

Prosperity Consulting Group LLC decreased its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 25.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 11,103 shares of the basic materials company’s stock after selling 3,814 shares during the quarter. Prosperity Consulting Group LLC’s holdings in Air Products and Chemicals were worth $2,865,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Sachetta LLC bought a new position in shares of Air Products and Chemicals in the fourth quarter worth $27,000. Security National Bank bought a new position in Air Products and Chemicals during the fourth quarter valued at about $27,000. Transcendent Capital Group LLC bought a new position in Air Products and Chemicals during the fourth quarter valued at about $28,000. Thompson Investment Management Inc. bought a new position in Air Products and Chemicals during the first quarter valued at about $27,000. Finally, Meeder Asset Management Inc. bought a new position in Air Products and Chemicals during the second quarter valued at about $32,000. Institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Up 1.5 %

APD opened at $284.20 on Friday. Air Products and Chemicals, Inc. has a fifty-two week low of $212.24 and a fifty-two week high of $307.71. The business has a 50-day moving average of $271.06 and a 200-day moving average of $257.66. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.27 and a quick ratio of 1.10. The company has a market capitalization of $63.18 billion, a PE ratio of 25.65, a price-to-earnings-growth ratio of 3.70 and a beta of 0.82.

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

Air Products and Chemicals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Tuesday, October 1st will be paid a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend is Tuesday, October 1st. Air Products and Chemicals’s payout ratio is 63.90%.

Analysts Set New Price Targets

Several research analysts recently weighed in on APD shares. Citigroup raised their target price on Air Products and Chemicals from $280.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, July 12th. JPMorgan Chase & Co. increased their price target on Air Products and Chemicals from $300.00 to $340.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Wells Fargo & Company increased their price target on Air Products and Chemicals from $240.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. BMO Capital Markets increased their price target on 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. Finally, Barclays increased their price target on Air Products and Chemicals from $290.00 to $295.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Air Products and Chemicals presently has an average rating of “Hold” and an average target price 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.