Prio Wealth Limited Partnership Trims Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Prio Wealth Limited Partnership decreased its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 1.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 14,275 shares of the basic materials company’s stock after selling 266 shares during the period. Prio Wealth Limited Partnership’s holdings in Air Products and Chemicals were worth $3,684,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Security National Bank purchased a new position in shares of Air Products and Chemicals during the 4th quarter worth approximately $27,000. Thompson Investment Management Inc. bought a new stake in shares of Air Products and Chemicals in the 1st quarter worth approximately $27,000. Transcendent Capital Group LLC bought a new stake in shares of Air Products and Chemicals in the 4th quarter worth approximately $28,000. Meeder Asset Management Inc. bought a new stake in shares of Air Products and Chemicals in the 2nd quarter worth approximately $32,000. Finally, Hexagon Capital Partners LLC boosted its position in shares of Air Products and Chemicals by 2,250.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 141 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 135 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Analysts Set New Price Targets

APD has been the topic of a number of analyst reports. JPMorgan Chase & Co. boosted their price target on Air Products and Chemicals from $300.00 to $340.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Citigroup boosted their price target on Air Products and Chemicals from $280.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. BMO Capital Markets boosted their price target on Air Products and Chemicals from $300.00 to $323.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. StockNews.com raised Air Products and Chemicals from a “sell” rating to a “hold” rating in a research report on Monday, September 23rd. Finally, The Goldman Sachs Group boosted their price target on Air Products and Chemicals from $291.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $296.50.

Air Products and Chemicals Trading Down 2.1 %

NYSE:APD opened at $291.42 on Wednesday. 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 firm has a market capitalization of $64.78 billion, a price-to-earnings ratio of 26.30, a price-to-earnings-growth ratio of 3.89 and a beta of 0.82. Air Products and Chemicals, Inc. has a one year low of $212.24 and a one year high of $302.03. The business has a fifty day moving average price of $279.04 and a 200-day moving average price of $262.29.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings data on Thursday, August 1st. The basic materials company reported $3.20 EPS for the quarter, topping the consensus estimate of $3.04 by $0.16. Air Products and Chemicals had a return on equity of 16.53% and a net margin of 21.24%. The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $3.04 billion. Sell-side analysts forecast that Air Products and Chemicals, Inc. will post 12.33 EPS for the current year.

Air Products and Chemicals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Tuesday, October 1st will be paid 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 yield of 2.43%. Air Products and Chemicals’s payout ratio is presently 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.