Perpetual Ltd Sells 3,594 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Perpetual Ltd trimmed its position in Air Products and Chemicals, Inc. (NYSE:APD) by 2.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 159,342 shares of the basic materials company’s stock after selling 3,594 shares during the period. Perpetual Ltd owned approximately 0.07% of Air Products and Chemicals worth $47,442,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of APD. Transcendent Capital Group LLC bought a new stake in Air Products and Chemicals during the fourth quarter worth about $28,000. Thompson Investment Management Inc. bought a new stake in Air Products and Chemicals during the first quarter worth about $27,000. Meeder Asset Management Inc. bought a new stake in Air Products and Chemicals during the second quarter worth about $32,000. Hexagon Capital Partners LLC raised its holdings in Air Products and Chemicals by 2,250.0% during the first quarter. Hexagon Capital Partners LLC now owns 141 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 135 shares in the last quarter. Finally, Trifecta Capital Advisors LLC raised its holdings in Air Products and Chemicals by 1,700.0% during the second quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 136 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors.

Air Products and Chemicals Stock Up 1.2 %

Shares of APD opened at $314.09 on Thursday. The stock has a market capitalization of $69.82 billion, a price-to-earnings ratio of 28.35, a PEG ratio of 3.89 and a beta of 0.82. Air Products and Chemicals, Inc. has a 52 week low of $212.24 and a 52 week high of $318.32. The stock has a fifty day moving average of $283.53 and a 200-day moving average of $264.65. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.10 and a current ratio of 1.27.

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 analysts’ consensus estimates of $3.04 by $0.16. The business 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%. As a group, sell-side analysts anticipate that Air Products and Chemicals, Inc. will post 12.33 earnings per share for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Tuesday, October 1st will be issued 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 2.25%. Air Products and Chemicals’s payout ratio is currently 63.90%.

Wall Street Analyst Weigh In

APD has been the topic of a number of recent analyst reports. The Goldman Sachs Group boosted their price target on Air Products and Chemicals from $291.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Jefferies Financial Group raised Air Products and Chemicals from a “hold” rating to a “buy” rating and boosted their price target for the stock from $295.00 to $364.00 in a research report on Monday. Vertical Research raised Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price target on the stock in a research report on Monday. Wells Fargo & Company boosted their price target 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, Citigroup boosted their price target on Air Products and Chemicals from $330.00 to $345.00 and gave the stock a “buy” rating in a research report on Monday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $313.53.

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.