Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by Chesapeake Wealth Management

Chesapeake Wealth Management reduced its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 2.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,152 shares of the basic materials company’s stock after selling 54 shares during the period. Chesapeake Wealth Management’s holdings in Air Products and Chemicals were worth $555,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in APD. Security National Bank purchased a new stake in Air Products and Chemicals in the fourth quarter valued at $27,000. Thompson Investment Management Inc. acquired a new stake in shares of Air Products and Chemicals in the 1st quarter valued at about $27,000. Transcendent Capital Group LLC purchased a new position in Air Products and Chemicals during the 4th quarter worth approximately $28,000. Meeder Asset Management Inc. acquired a new position in Air Products and Chemicals during the second quarter worth approximately $32,000. Finally, Hexagon Capital Partners LLC lifted its stake in Air Products and Chemicals by 2,250.0% in the first quarter. Hexagon Capital Partners LLC now owns 141 shares of the basic materials company’s stock valued at $34,000 after buying an additional 135 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on APD. Deutsche Bank Aktiengesellschaft lowered shares of Air Products and Chemicals from a “buy” rating to a “hold” rating and lowered their target price for the stock from $310.00 to $280.00 in a research report on Monday, July 22nd. StockNews.com lowered shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. BMO Capital Markets increased their target price on shares of Air Products and Chemicals from $300.00 to $323.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Wells Fargo & Company boosted 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. Finally, UBS Group increased their price objective on Air Products and Chemicals from $276.00 to $281.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Air Products and Chemicals has a consensus rating of “Hold” and an average price target of $297.40.

Air Products and Chemicals Stock Performance

Shares of APD opened at $287.98 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.77. Air Products and Chemicals, Inc. has a 52-week low of $212.24 and a 52-week high of $296.00. The company has a 50-day simple moving average of $274.23 and a 200-day simple moving average of $259.53. The company has a market capitalization of $64.02 billion, a PE ratio of 25.99, a P/E/G ratio of 3.70 and a beta of 0.81.

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

Air Products and Chemicals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Tuesday, October 1st will be issued a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.46%. The ex-dividend date is Tuesday, October 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is 63.90%.

Air Products and Chemicals Profile

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.