Harmony Asset Management LLC Decreases Position in Air Products and Chemicals, Inc. (NYSE:APD)

Harmony Asset Management LLC reduced its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 81.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,051 shares of the basic materials company’s stock after selling 4,585 shares during the period. Harmony Asset Management LLC’s holdings in Air Products and Chemicals were worth $271,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Certified Advisory Corp grew its holdings in Air Products and Chemicals by 15.5% during the 2nd quarter. Certified Advisory Corp now owns 5,888 shares of the basic materials company’s stock worth $1,519,000 after acquiring an additional 792 shares in the last quarter. DRW Securities LLC acquired a new position in shares of Air Products and Chemicals during the second quarter worth $665,000. EverSource Wealth Advisors LLC increased its holdings in Air Products and Chemicals by 175.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,333 shares of the basic materials company’s stock valued at $352,000 after buying an additional 849 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in Air Products and Chemicals in the second quarter valued at $104,000. Finally, Frank Rimerman Advisors LLC purchased a new stake in Air Products and Chemicals during the 2nd quarter worth about $530,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on APD. UBS Group increased their price objective on Air Products and Chemicals from $276.00 to $281.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Bank of America boosted their price objective 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. JPMorgan Chase & Co. lifted their price target on shares of Air Products and Chemicals from $300.00 to $340.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Wells Fargo & Company lifted their target price on 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. Finally, The Goldman Sachs Group raised their price target on Air Products and Chemicals from $291.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $297.40.

Air Products and Chemicals Price Performance

Air Products and Chemicals stock opened at $287.98 on Monday. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $64.02 billion, a PE ratio of 25.99, a P/E/G ratio of 3.70 and a beta of 0.82. The firm’s 50-day simple moving average is $274.23 and its 200 day simple moving average is $259.79. Air Products and Chemicals, Inc. has a 52 week low of $212.24 and a 52 week high of $296.00.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings data on Thursday, August 1st. The basic materials company reported $3.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.16. The firm had revenue of $2.99 billion during the quarter, compared to the consensus estimate 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, equities research analysts predict that Air Products and Chemicals, Inc. will post 12.32 EPS for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Tuesday, October 1st will be given a dividend of $1.77 per share. The ex-dividend date is Tuesday, October 1st. This represents a $7.08 dividend on an annualized basis and a yield of 2.46%. Air Products and Chemicals’s dividend payout ratio (DPR) 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.