Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by Wealth Alliance

Wealth Alliance reduced its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 28.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,766 shares of the basic materials company’s stock after selling 1,107 shares during the period. Wealth Alliance’s holdings in Air Products and Chemicals were worth $714,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Sachetta LLC acquired a new stake in shares of Air Products and Chemicals in the fourth quarter worth approximately $27,000. Security National Bank acquired a new stake in shares of Air Products and Chemicals in the fourth quarter worth approximately $27,000. Thompson Investment Management Inc. acquired a new position in Air Products and Chemicals during the first quarter valued at approximately $27,000. Transcendent Capital Group LLC acquired a new position in Air Products and Chemicals during the fourth quarter valued at approximately $28,000. Finally, Meeder Asset Management Inc. acquired a new position in Air Products and Chemicals during the second quarter valued at approximately $32,000. 81.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on APD. Citigroup lifted their price target on shares of Air Products and Chemicals from $280.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, July 12th. JPMorgan Chase & Co. lifted their price objective on shares of 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. Bank of America lifted their price objective on shares of Air Products and Chemicals from $275.00 to $312.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Barclays lifted their price objective on shares of Air Products and Chemicals from $290.00 to $295.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Finally, Wells Fargo & Company lifted their price objective on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $297.40.

Air Products and Chemicals Stock Performance

Air Products and Chemicals stock opened at $287.27 on Thursday. The company has a market cap of $63.86 billion, a PE ratio of 25.93, a P/E/G ratio of 3.70 and a beta of 0.81. The company has a fifty day moving average price of $273.10 and a two-hundred day moving average price of $258.99. 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, Inc. has a 12 month low of $212.24 and a 12 month high of $301.03.

Air Products and Chemicals (NYSE:APD) last announced its quarterly 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 company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.04 billion. Research analysts expect that Air Products and Chemicals, Inc. will post 12.32 earnings per share for the current year.

Air Products and Chemicals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Tuesday, October 1st will be issued a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend is Tuesday, October 1st. Air Products and Chemicals’s payout ratio is currently 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.