Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by Candriam S.C.A.

Candriam S.C.A. cut its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 44.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 102,019 shares of the basic materials company’s stock after selling 80,747 shares during the quarter. Candriam S.C.A.’s holdings in Air Products and Chemicals were worth $26,325,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Sachetta LLC purchased a new stake in Air Products and Chemicals during the fourth quarter valued at about $27,000. Security National Bank purchased a new stake in Air Products and Chemicals during the fourth quarter valued at about $27,000. Transcendent Capital Group LLC purchased a new stake in Air Products and Chemicals during the fourth quarter valued at about $28,000. Thompson Investment Management Inc. purchased a new stake in Air Products and Chemicals during the first quarter valued at about $27,000. Finally, Clear Investment Research LLC lifted its position in shares of Air Products and Chemicals by 700.0% in the fourth quarter. Clear Investment Research LLC now owns 128 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 112 shares in the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Down 1.8 %

APD opened at $268.71 on Friday. Air Products and Chemicals, Inc. has a 1-year low of $212.24 and a 1-year high of $307.71. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $59.74 billion, a price-to-earnings ratio of 24.25, a P/E/G ratio of 3.72 and a beta of 0.81. The business has a 50 day moving average of $268.38 and a 200-day moving average of $256.18.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings data 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. Air Products and Chemicals had a return on equity of 16.53% and a net margin of 21.24%. The company had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $3.04 billion. As a group, sell-side analysts anticipate that Air Products and Chemicals, Inc. will post 12.32 earnings per share for the current year.

Air Products and Chemicals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, October 1st will be given a $1.77 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $7.08 annualized dividend and a dividend yield of 2.63%. Air Products and Chemicals’s dividend payout ratio is 63.90%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on APD. Wells Fargo & Company increased their price target on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Bank of America increased their price target on shares of Air Products and Chemicals from $275.00 to $312.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Barclays increased their price objective on Air Products and Chemicals from $290.00 to $295.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. BMO Capital Markets increased their price objective on Air Products and Chemicals from $300.00 to $323.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Finally, StockNews.com downgraded Air Products and Chemicals from a “hold” rating to a “sell” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Air Products and Chemicals currently has a consensus rating of “Hold” and an average target price of $297.40.

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.