Cornercap Investment Counsel Inc. Sells 107 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Cornercap Investment Counsel Inc. decreased its position in Air Products and Chemicals, Inc. (NYSE:APD) by 8.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,090 shares of the basic materials company’s stock after selling 107 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Air Products and Chemicals were worth $281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Sachetta LLC purchased a new stake in shares of Air Products and Chemicals in the 4th quarter valued at $27,000. Security National Bank purchased a new stake in Air Products and Chemicals during the fourth quarter valued at about $27,000. Thompson Investment Management Inc. bought a new position in shares of Air Products and Chemicals during the first quarter valued at about $27,000. Transcendent Capital Group LLC purchased a new position in shares of Air Products and Chemicals in the fourth quarter worth about $28,000. Finally, Hexagon Capital Partners LLC lifted its stake 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 valued at $34,000 after acquiring an additional 135 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Up 1.5 %

Shares of Air Products and Chemicals stock opened at $284.13 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 debt-to-equity ratio of 0.77, a current ratio of 1.27 and a quick ratio of 1.10. The company has a 50-day moving average of $271.06 and a 200 day moving average of $257.84. The firm has a market cap of $63.16 billion, a price-to-earnings ratio of 25.64, a PEG ratio of 3.70 and a beta of 0.82.

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 (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $2.99 billion during the quarter, compared to analyst estimates 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 fiscal year.

Air Products and Chemicals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, October 1st will be paid a $1.77 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.49%. Air Products and Chemicals’s dividend payout ratio is currently 63.90%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on APD. Morgan Stanley raised their price target on Air Products and Chemicals from $240.00 to $280.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 5th. Citigroup lifted their target price on shares of Air Products and Chemicals from $280.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. UBS Group boosted their price objective on shares of 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 raised their target price on Air Products and Chemicals from $300.00 to $323.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Finally, Wells Fargo & Company upped their price target on Air Products and Chemicals from $240.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target 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.