Orleans Capital Management Corp LA Has $2.36 Million Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

Orleans Capital Management Corp LA lowered its position in Air Products and Chemicals, Inc. (NYSE:APD) by 4.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,905 shares of the basic materials company’s stock after selling 400 shares during the period. Air Products and Chemicals accounts for about 1.8% of Orleans Capital Management Corp LA’s holdings, making the stock its 22nd biggest position. Orleans Capital Management Corp LA’s holdings in Air Products and Chemicals were worth $2,355,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in APD. Bank of America Corp DE increased its stake in Air Products and Chemicals by 13.5% during the 2nd quarter. Bank of America Corp DE now owns 9,581,433 shares of the basic materials company’s stock valued at $2,313,533,000 after purchasing an additional 1,141,241 shares in the last quarter. Neuberger Berman Group LLC raised its holdings in shares of Air Products and Chemicals by 6.8% in the 2nd quarter. Neuberger Berman Group LLC now owns 1,789,277 shares of the basic materials company’s stock worth $432,019,000 after acquiring an additional 113,416 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Air Products and Chemicals by 2.9% in the 2nd quarter. Principal Financial Group Inc. now owns 1,512,394 shares of the basic materials company’s stock worth $365,183,000 after acquiring an additional 43,210 shares during the last quarter. London Co. of Virginia lifted its position in Air Products and Chemicals by 4.8% in the 2nd quarter. London Co. of Virginia now owns 1,111,393 shares of the basic materials company’s stock valued at $268,357,000 after acquiring an additional 50,430 shares in the last quarter. Finally, King Luther Capital Management Corp boosted its stake in Air Products and Chemicals by 2.0% during the 2nd quarter. King Luther Capital Management Corp now owns 1,019,891 shares of the basic materials company’s stock valued at $246,263,000 after purchasing an additional 20,097 shares during the last quarter. 79.57% of the stock is owned by hedge funds and other institutional investors.

APD has been the topic of a number of recent research reports. BMO Capital Markets dropped their target price on Air Products and Chemicals from $364.00 to $340.00 and set an “outperform” rating on the stock in a report on Thursday, November 12th. JPMorgan Chase & Co. downgraded shares of Air Products and Chemicals from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $310.00 to $280.00 in a report on Thursday, November 12th. Zacks Investment Research lowered shares of Air Products and Chemicals from a “buy” rating to a “hold” rating and set a $305.00 target price for the company. in a research note on Monday, September 28th. Morgan Stanley dropped their price target on shares of Air Products and Chemicals from $325.00 to $300.00 and set an “overweight” rating on the stock in a research report on Monday, November 16th. Finally, Wells Fargo & Company reduced their price objective on shares of Air Products and Chemicals from $340.00 to $320.00 and set an “overweight” rating for the company in a research report on Thursday, November 12th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $291.21.

Shares of NYSE:APD traded up $0.63 during trading on Monday, hitting $278.46. 9,367 shares of the company were exchanged, compared to its average volume of 1,224,752. Air Products and Chemicals, Inc. has a 52-week low of $167.43 and a 52-week high of $327.89. The stock has a 50 day moving average of $286.90 and a 200 day moving average of $274.79. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.59 and a quick ratio of 3.43. The company has a market cap of $61.47 billion, a PE ratio of 32.72, a P/E/G ratio of 3.57 and a beta of 0.86.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings data on Monday, November 16th. The basic materials company reported $2.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.21 by ($0.02). Air Products and Chemicals had a return on equity of 15.48% and a net margin of 21.30%. The company had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same period last year, the company posted $2.27 EPS. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. Sell-side analysts forecast that Air Products and Chemicals, Inc. will post 9.12 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, February 8th. Shareholders of record on Monday, January 4th will be paid a $1.34 dividend. This represents a $5.36 annualized dividend and a yield of 1.92%. The ex-dividend date is Thursday, December 31st. Air Products and Chemicals’s dividend payout ratio is presently 63.96%.

About Air Products and Chemicals

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.

Featured Story: What is intrinsic value?

Institutional Ownership by Quarter for Air Products and Chemicals (NYSE:APD)

Receive News & Ratings for Air Products and Chemicals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Air Products and Chemicals and related companies with MarketBeat.com's FREE daily email newsletter.