1832 Asset Management L.P. Lowers Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

1832 Asset Management L.P. lessened its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 7.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 62,150 shares of the basic materials company’s stock after selling 5,357 shares during the quarter. 1832 Asset Management L.P.’s holdings in Air Products and Chemicals were worth $16,038,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Security National Bank purchased a new position in Air Products and Chemicals during the fourth quarter worth about $27,000. Thompson Investment Management Inc. acquired a new position in shares of Air Products and Chemicals during the 1st quarter valued at about $27,000. Transcendent Capital Group LLC purchased a new position in shares of Air Products and Chemicals during the 4th quarter worth about $28,000. Meeder Asset Management Inc. acquired a new stake in shares of Air Products and Chemicals in the second quarter worth approximately $32,000. Finally, Hexagon Capital Partners LLC grew its holdings in Air Products and Chemicals by 2,250.0% in the first quarter. Hexagon Capital Partners LLC now owns 141 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 135 shares during the period. Institutional investors and hedge funds own 81.66% of the company’s stock.

Air Products and Chemicals Stock Performance

Shares of APD stock opened at $291.99 on Tuesday. 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’s fifty day moving average price is $274.87 and its two-hundred day moving average price is $260.12. The firm has a market capitalization of $64.91 billion, a P/E ratio of 26.35, a P/E/G ratio of 3.70 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 $296.00.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings results on Thursday, August 1st. The basic materials company reported $3.20 EPS for the quarter, topping 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 business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $3.04 billion. On average, research 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 declared a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, October 1st will be given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date is Tuesday, October 1st. Air Products and Chemicals’s payout ratio is currently 63.90%.

Wall Street Analysts Forecast Growth

APD has been the topic of a number of recent analyst reports. UBS Group increased their price target on shares of 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 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. BMO Capital Markets boosted their price target on Air Products and Chemicals from $300.00 to $323.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. StockNews.com upgraded Air Products and Chemicals from a “sell” rating to a “hold” rating in a research note on Monday. Finally, Morgan Stanley lifted their price objective on Air Products and Chemicals from $240.00 to $280.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Air Products and Chemicals currently has a consensus rating of “Hold” and a consensus price target of $297.40.

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.