Perkins Coie Trust Co Sells 40 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Perkins Coie Trust Co reduced its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 26.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 109 shares of the basic materials company’s stock after selling 40 shares during the quarter. Perkins Coie Trust Co’s holdings in Air Products and Chemicals were worth $32,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Avantax Advisory Services Inc. grew its stake in shares of Air Products and Chemicals by 151.3% during the first quarter. Avantax Advisory Services Inc. now owns 24,881 shares of the basic materials company’s stock valued at $6,028,000 after buying an additional 14,981 shares during the last quarter. 1832 Asset Management L.P. grew its stake in shares of Air Products and Chemicals by 3.6% during the first quarter. 1832 Asset Management L.P. now owns 67,507 shares of the basic materials company’s stock valued at $16,355,000 after buying an additional 2,321 shares during the last quarter. Trilogy Capital Inc. bought a new position in shares of Air Products and Chemicals during the first quarter valued at approximately $2,625,000. FORA Capital LLC grew its stake in shares of Air Products and Chemicals by 13.0% during the first quarter. FORA Capital LLC now owns 33,823 shares of the basic materials company’s stock valued at $8,194,000 after buying an additional 3,881 shares during the last quarter. Finally, Mizuho Markets Americas LLC grew its stake in shares of Air Products and Chemicals by 140.1% during the first quarter. Mizuho Markets Americas LLC now owns 39,164 shares of the basic materials company’s stock valued at $9,488,000 after buying an additional 22,850 shares during the last quarter. 81.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on APD shares. 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 note on Tuesday, August 20th. Wells Fargo & Company increased their price objective on Air Products and Chemicals from $240.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Jefferies Financial Group raised Air Products and Chemicals from a “hold” rating to a “buy” rating and increased their price objective for the stock from $295.00 to $364.00 in a research note on Monday. Deutsche Bank Aktiengesellschaft lowered 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 report on Monday, July 22nd. Finally, Barclays increased their price objective 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $313.53.

Air Products and Chemicals Price Performance

Air Products and Chemicals stock traded up $1.47 during midday trading on Wednesday, reaching $311.83. The company had a trading volume of 135,511 shares, compared to its average volume of 1,619,549. The company has a market capitalization of $69.32 billion, a P/E ratio of 28.00, a P/E/G ratio of 3.89 and a beta of 0.82. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $313.00. The firm’s fifty day simple moving average is $282.53 and its 200-day simple moving average is $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.

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

Air Products and Chemicals Dividend Announcement

The firm also recently announced 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. This represents a $7.08 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Tuesday, October 1st. 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.