Air Products and Chemicals, Inc. (NYSE:APD) Holdings Decreased by 1832 Asset Management L.P.

1832 Asset Management L.P. cut its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 7.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 62,150 shares of the basic materials company’s stock after selling 5,357 shares during the period. 1832 Asset Management L.P.’s holdings in Air Products and Chemicals were worth $16,038,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the business. Gryphon Financial Partners LLC acquired a new position in shares of Air Products and Chemicals during the fourth quarter worth approximately $486,000. Quest Partners LLC acquired a new position in Air Products and Chemicals during the 4th quarter worth $230,000. Congress Wealth Management LLC DE grew its stake in shares of Air Products and Chemicals by 98.1% in the fourth quarter. Congress Wealth Management LLC DE now owns 7,826 shares of the basic materials company’s stock worth $2,143,000 after purchasing an additional 3,876 shares in the last quarter. Hsbc Holdings PLC increased its holdings in shares of Air Products and Chemicals by 36.2% during the fourth quarter. Hsbc Holdings PLC now owns 400,894 shares of the basic materials company’s stock valued at $109,732,000 after purchasing an additional 106,614 shares during the period. Finally, Hilltop Holdings Inc. raised its stake in shares of Air Products and Chemicals by 65.9% during the fourth quarter. Hilltop Holdings Inc. now owns 2,511 shares of the basic materials company’s stock valued at $688,000 after purchasing an additional 997 shares in the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

Air Products and Chemicals Stock Up 1.4 %

Shares of Air Products and Chemicals stock opened at $291.99 on Tuesday. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $296.00. The firm has a market capitalization of $64.91 billion, a PE ratio of 26.35, a price-to-earnings-growth ratio of 3.70 and a beta of 0.82. 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 stock’s fifty day moving average is $274.87 and its 200-day moving average is $260.12.

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 (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 firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $3.04 billion. Equities analysts anticipate that Air Products and Chemicals, Inc. will post 12.32 earnings per share for the current year.

Air Products and Chemicals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Tuesday, October 1st will be given a $1.77 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $7.08 annualized dividend and a dividend yield of 2.42%. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 63.90%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on APD shares. Citigroup increased their target price 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. Wells Fargo & Company increased 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 report on Friday, August 2nd. Barclays boosted their target price on Air Products and Chemicals from $290.00 to $295.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. The Goldman Sachs Group increased their price target on Air Products and Chemicals from $291.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft downgraded Air Products and Chemicals from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $310.00 to $280.00 in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Air Products and Chemicals has an average rating of “Hold” and a consensus target price of $297.40.

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.