Rhumbline Advisers Reduces Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Rhumbline Advisers lowered its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 0.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 432,267 shares of the basic materials company’s stock after selling 2,664 shares during the quarter. Rhumbline Advisers owned about 0.19% of Air Products and Chemicals worth $111,546,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Chilton Capital Management LLC increased its holdings in shares of Air Products and Chemicals by 3.8% in the 2nd quarter. Chilton Capital Management LLC now owns 4,684 shares of the basic materials company’s stock valued at $1,209,000 after acquiring an additional 170 shares during the last quarter. Two Point Capital Management Inc. acquired a new position in Air Products and Chemicals during the second quarter worth approximately $6,859,000. United Asset Strategies Inc. increased its position in Air Products and Chemicals by 121.5% during the second quarter. United Asset Strategies Inc. now owns 14,205 shares of the basic materials company’s stock worth $3,666,000 after buying an additional 7,791 shares during the period. Natixis Advisors LLC increased its position in Air Products and Chemicals by 2.8% during the second quarter. Natixis Advisors LLC now owns 118,869 shares of the basic materials company’s stock worth $30,674,000 after buying an additional 3,288 shares during the period. Finally, Telos Capital Management Inc. increased its position in Air Products and Chemicals by 0.4% during the second quarter. Telos Capital Management Inc. now owns 27,950 shares of the basic materials company’s stock worth $7,213,000 after buying an additional 106 shares during the period. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Down 1.3 %

APD opened at $275.19 on Wednesday. The business’s fifty day moving average is $267.73 and its two-hundred day moving average is $255.43. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.10 and a current ratio of 1.27. The company has a market cap of $61.18 billion, a price-to-earnings ratio of 24.84, a PEG ratio of 3.72 and a beta of 0.81. Air Products and Chemicals, Inc. has a one year low of $212.24 and a one year high of $307.71.

Air Products and Chemicals (NYSE:APD) last posted its earnings results on Thursday, August 1st. The basic materials company reported $3.20 EPS for the quarter, topping analysts’ consensus estimates of $3.04 by $0.16. The company had revenue of $2.99 billion for 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%. Analysts anticipate that Air Products and Chemicals, Inc. will post 12.32 EPS for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, October 1st will be given a $1.77 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $7.08 annualized dividend and a dividend yield of 2.57%. Air Products and Chemicals’s dividend payout ratio is currently 63.90%.

Analysts Set New Price Targets

APD has been the topic of several research analyst reports. Citigroup lifted their price target on Air Products and Chemicals from $280.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. StockNews.com raised Air Products and Chemicals from a “sell” rating to a “hold” rating in a research report on Tuesday, August 20th. BMO Capital Markets lifted their price target on Air Products and Chemicals from $300.00 to $323.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Wells Fargo & Company boosted their target price on Air Products and Chemicals from $240.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, The Goldman Sachs Group boosted their target price on Air Products and Chemicals from $291.00 to $330.00 and gave the company a “buy” rating in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently 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.