Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp reduced its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 2.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,459 shares of the basic materials company’s stock after selling 554 shares during the period. Mackenzie Financial Corp’s holdings in Air Products and Chemicals were worth $6,828,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Capital Research Global Investors grew its stake in shares of Air Products and Chemicals by 62.3% during the 1st quarter. Capital Research Global Investors now owns 11,230,051 shares of the basic materials company’s stock valued at $2,720,704,000 after buying an additional 4,309,040 shares during the period. Barrow Hanley Mewhinney & Strauss LLC grew its position in Air Products and Chemicals by 4.2% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,062,859 shares of the basic materials company’s stock valued at $790,371,000 after acquiring an additional 122,676 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Air Products and Chemicals by 127.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,792,470 shares of the basic materials company’s stock worth $720,597,000 after acquiring an additional 1,564,169 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Air Products and Chemicals by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,034,818 shares of the basic materials company’s stock worth $525,085,000 after purchasing an additional 5,140 shares during the period. Finally, National Bank of Canada FI lifted its stake in shares of Air Products and Chemicals by 2,931.0% in the 2nd quarter. National Bank of Canada FI now owns 1,796,531 shares of the basic materials company’s stock valued at $444,352,000 after purchasing an additional 1,737,260 shares in the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on APD. Morgan Stanley raised their price target on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the company an “equal weight” rating in a report on Wednesday, June 5th. UBS Group lifted their target price on shares of Air Products and Chemicals from $276.00 to $281.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. 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 report on Monday, August 5th. JPMorgan Chase & Co. boosted their price objective on Air Products and Chemicals from $300.00 to $340.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, Wells Fargo & Company increased their target price on Air Products and Chemicals from $240.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $296.50.

Air Products and Chemicals Trading Down 0.9 %

APD opened at $297.74 on Tuesday. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $302.03. 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 stock has a market capitalization of $66.19 billion, a PE ratio of 26.87, a P/E/G ratio of 3.89 and a beta of 0.82. The firm’s fifty day moving average price is $278.33 and its 200 day moving average price is $261.96.

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 business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $3.04 billion. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. As a group, research analysts expect that Air Products and Chemicals, Inc. will post 12.33 EPS for the current fiscal year.

Air Products and Chemicals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, October 1st will be issued a $1.77 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.38%. Air Products and Chemicals’s dividend payout ratio (DPR) is 63.90%.

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.