Osher Van de Voorde Investment Management Sells 370 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Osher Van de Voorde Investment Management reduced its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 0.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,462 shares of the basic materials company’s stock after selling 370 shares during the quarter. Air Products and Chemicals comprises 4.3% of Osher Van de Voorde Investment Management’s holdings, making the stock its 9th largest holding. Osher Van de Voorde Investment Management’s holdings in Air Products and Chemicals were worth $19,788,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in APD. Thompson Investment Management Inc. bought a new stake in Air Products and Chemicals in the first quarter worth approximately $27,000. Transcendent Capital Group LLC bought a new stake in shares of Air Products and Chemicals during the fourth quarter valued at approximately $28,000. Meeder Asset Management Inc. bought a new stake in shares of Air Products and Chemicals during the second quarter valued at approximately $32,000. Hexagon Capital Partners LLC increased its holdings in shares of Air Products and Chemicals by 2,250.0% during the first quarter. Hexagon Capital Partners LLC now owns 141 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 135 shares in the last quarter. Finally, Trifecta Capital Advisors LLC increased its holdings in shares of Air Products and Chemicals by 1,700.0% during the second quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 136 shares in the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on APD. The Goldman Sachs Group lifted their target price on Air Products and Chemicals from $291.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Vertical Research raised Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price target on the stock in a research report on Monday. UBS Group upped their price target on Air Products and Chemicals from $276.00 to $281.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. BMO Capital Markets upped their price target on Air Products and Chemicals from $300.00 to $323.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Finally, JPMorgan Chase & Co. boosted their price objective on Air Products and Chemicals from $300.00 to $340.00 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 issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Air Products and Chemicals presently has an average rating of “Moderate Buy” and an average price target of $309.18.

Air Products and Chemicals Stock Performance

Shares of APD opened at $310.36 on Wednesday. Air Products and Chemicals, Inc. has a one year low of $212.24 and a one year high of $313.00. The company has a 50-day simple moving average of $282.53 and a two-hundred day simple moving average of $264.30. 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 $68.99 billion, a PE ratio of 28.01, a price-to-earnings-growth ratio of 3.89 and a beta of 0.82.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings results on Thursday, August 1st. The basic materials company reported $3.20 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.16. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $3.04 billion. Air Products and Chemicals had a return on equity of 16.53% and a net margin of 21.24%. On average, analysts anticipate that Air Products and Chemicals, Inc. will post 12.33 EPS for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend is Tuesday, October 1st. Air Products and Chemicals’s dividend payout ratio (DPR) 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.