Strategy Asset Managers LLC reduced its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 83.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 811 shares of the basic materials company’s stock after selling 4,106 shares during the period. Strategy Asset Managers LLC’s holdings in Air Products and Chemicals were worth $228,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Grant Street Asset Management Inc. acquired a new position in shares of Air Products and Chemicals during the fourth quarter worth $28,000. Northwest Investment Counselors LLC acquired a new position in shares of Air Products and Chemicals during the first quarter worth $28,000. Childress Capital Advisors LLC acquired a new position in shares of Air Products and Chemicals during the fourth quarter worth $37,000. Arkadios Wealth Advisors increased its holdings in shares of Air Products and Chemicals by 217.4% during the fourth quarter. Arkadios Wealth Advisors now owns 146 shares of the basic materials company’s stock worth $39,000 after buying an additional 100 shares in the last quarter. Finally, Tobam acquired a new position in shares of Air Products and Chemicals during the first quarter worth $39,000. Institutional investors and hedge funds own 82.01% of the company’s stock.
A number of analysts have commented on APD shares. HSBC cut their price target on shares of Air Products and Chemicals from $275.00 to $269.00 and set a “hold” rating on the stock in a research report on Thursday, June 3rd. Wolfe Research started coverage on shares of Air Products and Chemicals in a research report on Wednesday. They set an “outperform” rating on the stock. Barclays reaffirmed an “equal weight” rating and set a $310.00 price target (up previously from $295.00) on shares of Air Products and Chemicals in a research report on Thursday, May 13th. Morgan Stanley upped their price target on shares of Air Products and Chemicals from $300.00 to $335.00 and gave the company an “overweight” rating in a research report on Wednesday, May 12th. Finally, BMO Capital Markets increased their price objective on shares of Air Products and Chemicals from $310.00 to $332.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 12th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $311.07.
Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings data on Sunday, May 9th. The basic materials company reported $2.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.12 by ($0.04). The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Air Products and Chemicals had a net margin of 20.39% and a return on equity of 14.75%. The company’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the business posted $2.04 EPS. Analysts expect that Air Products and Chemicals, Inc. will post 9.1 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 9th. Stockholders of record on Thursday, July 1st will be paid a dividend of $1.50 per share. The ex-dividend date is Wednesday, June 30th. This represents a $6.00 annualized dividend and a dividend yield of 2.01%. Air Products and Chemicals’s payout ratio is currently 71.60%.
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, manufacturing, food and beverage, electronics, magnetic resonance imaging, energy production and refining, and metals.
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