Air Products and Chemicals, Inc. (NYSE:APD) Stake Lessened by APG Asset Management N.V.

APG Asset Management N.V. trimmed its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 87.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,245 shares of the basic materials company’s stock after selling 357,388 shares during the quarter. APG Asset Management N.V.’s holdings in Air Products and Chemicals were worth $12,820,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Security National Bank acquired a new position in Air Products and Chemicals in the fourth quarter worth about $27,000. Transcendent Capital Group LLC acquired a new position in shares of Air Products and Chemicals in the 4th quarter worth approximately $28,000. Thompson Investment Management Inc. bought a new stake in shares of Air Products and Chemicals in the 1st quarter valued at approximately $27,000. Meeder Asset Management Inc. bought a new position in Air Products and Chemicals during the second quarter worth $32,000. Finally, Hexagon Capital Partners LLC boosted 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 worth $34,000 after purchasing an additional 135 shares during the period. 81.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on APD. Wells Fargo & Company increased their target price on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. The Goldman Sachs Group raised their target price on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, August 5th. StockNews.com raised Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Monday, September 23rd. Citigroup raised their price target on Air Products and Chemicals from $280.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Finally, Barclays upped their price objective on Air Products and Chemicals from $290.00 to $295.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $296.50.

Air Products and Chemicals Stock Up 0.3 %

Air Products and Chemicals stock opened at $300.36 on Friday. The company’s 50-day moving average price is $277.35 and its two-hundred day moving average price is $261.49. The stock has a market cap of $66.77 billion, a price-to-earnings ratio of 27.11, 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 $302.03. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.77.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings data on Thursday, August 1st. The basic materials company reported $3.20 EPS for the quarter, beating analysts’ consensus estimates of $3.04 by $0.16. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $3.04 billion. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. On average, analysts expect that Air Products and Chemicals, Inc. will post 12.33 EPS for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, October 1st will be issued a $1.77 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $7.08 annualized dividend and a dividend yield of 2.36%. Air Products and Chemicals’s dividend payout ratio (DPR) is 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.