Tocqueville Asset Management L.P. reduced its stake in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 7.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 63,946 shares of the basic materials company’s stock after selling 5,445 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Air Products & Chemicals were worth $15,027,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the business. Covington Capital Management increased its stake in shares of Air Products & Chemicals by 0.5% during the second quarter. Covington Capital Management now owns 20,611 shares of the basic materials company’s stock worth $4,666,000 after buying an additional 95 shares during the period. Winthrop Partners WNY LLC increased its position in shares of Air Products & Chemicals by 4.4% in the 2nd quarter. Winthrop Partners WNY LLC now owns 5,569 shares of the basic materials company’s stock valued at $1,261,000 after purchasing an additional 234 shares during the last quarter. Rosenbaum Jay D. increased its position in shares of Air Products & Chemicals by 3.5% in the 3rd quarter. Rosenbaum Jay D. now owns 2,065 shares of the basic materials company’s stock valued at $458,000 after purchasing an additional 70 shares during the last quarter. Chesley Taft & Associates LLC increased its position in shares of Air Products & Chemicals by 0.6% in the 3rd quarter. Chesley Taft & Associates LLC now owns 66,438 shares of the basic materials company’s stock valued at $14,740,000 after purchasing an additional 405 shares during the last quarter. Finally, Mutual Advisors LLC raised its holdings in shares of Air Products & Chemicals by 11.1% in the 3rd quarter. Mutual Advisors LLC now owns 1,008 shares of the basic materials company’s stock valued at $224,000 after purchasing an additional 101 shares in the last quarter. 83.60% of the stock is owned by institutional investors.
Shares of APD stock opened at $234.52 on Wednesday. The stock’s 50-day moving average is $232.67 and its two-hundred day moving average is $226.07. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.32 and a current ratio of 2.54. Air Products & Chemicals, Inc. has a 1 year low of $153.63 and a 1 year high of $241.90. The firm has a market cap of $51.15 billion, a price-to-earnings ratio of 28.57, a PEG ratio of 1.99 and a beta of 0.85.
Air Products & Chemicals (NYSE:APD) last posted its earnings results on Thursday, November 7th. The basic materials company reported $2.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.29 by ($0.02). The firm had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Air Products & Chemicals had a net margin of 19.73% and a return on equity of 15.88%. The firm’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.00 earnings per share. As a group, research analysts predict that Air Products & Chemicals, Inc. will post 9.47 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Thursday, January 2nd will be given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 1.98%. The ex-dividend date is Tuesday, December 31st. Air Products & Chemicals’s dividend payout ratio (DPR) is 56.52%.
APD has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Air Products & Chemicals from a “buy” rating to a “hold” rating and set a $243.00 price objective for the company. in a research report on Friday, January 3rd. Atlantic Securities began coverage on Air Products & Chemicals in a report on Monday, November 18th. They issued a “neutral” rating and a $250.00 target price on the stock. UBS Group cut their price target on Air Products & Chemicals from $232.00 to $230.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. Deutsche Bank raised their price target on Air Products & Chemicals from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Friday, November 8th. They noted that the move was a valuation call. Finally, Berenberg Bank initiated coverage on Air Products & Chemicals in a report on Tuesday, November 26th. They issued a “hold” rating and a $241.00 price objective on the stock. Thirteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Air Products & Chemicals has an average rating of “Hold” and an average target price of $240.76.
Air Products & Chemicals Company Profile
Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, argon, and rare gases; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and 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, electronics, manufacturing, food and beverage, magnetic resonance imaging, energy production and refining, and metals.
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