Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by Truist Financial Corp

Truist Financial Corp lessened its position in Air Products and Chemicals, Inc. (NYSE:APD) by 81.2% during the second quarter, Holdings Channel reports. The fund owned 132,886 shares of the basic materials company’s stock after selling 572,536 shares during the quarter. Truist Financial Corp’s holdings in Air Products and Chemicals were worth $34,291,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of APD. Capital Research Global Investors boosted its position in shares of Air Products and Chemicals by 62.3% during the first quarter. Capital Research Global Investors now owns 11,230,051 shares of the basic materials company’s stock worth $2,720,704,000 after buying an additional 4,309,040 shares during the period. National Bank of Canada FI raised its stake in Air Products and Chemicals by 2,931.0% during the 2nd quarter. National Bank of Canada FI now owns 1,796,531 shares of the basic materials company’s stock valued at $444,352,000 after acquiring an additional 1,737,260 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Air Products and Chemicals by 127.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,792,470 shares of the basic materials company’s stock worth $720,597,000 after acquiring an additional 1,564,169 shares during the period. Clearbridge Investments LLC grew its stake in shares of Air Products and Chemicals by 50.6% in the first quarter. Clearbridge Investments LLC now owns 1,547,202 shares of the basic materials company’s stock worth $374,841,000 after purchasing an additional 520,179 shares in the last quarter. Finally, Scharf Investments LLC acquired a new position in shares of Air Products and Chemicals during the first quarter valued at $87,173,000. 81.66% of the stock is currently owned by institutional investors.

Air Products and Chemicals Stock Down 0.5 %

APD stock opened at $290.00 on Thursday. The company’s 50 day simple moving average is $279.64 and its 200-day simple moving average is $262.49. 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 debt-to-equity ratio of 0.77, a current ratio of 1.27 and a quick ratio of 1.10. The firm has a market capitalization of $64.47 billion, a P/E ratio of 26.17, a P/E/G ratio of 3.89 and a beta of 0.82.

Air Products and Chemicals (NYSE:APD) last issued its 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 during the quarter, compared to analysts’ expectations of $3.04 billion. As a group, equities research analysts anticipate that Air Products and Chemicals, Inc. will post 12.33 EPS for the current year.

Air Products and Chemicals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Tuesday, October 1st will be paid a dividend of $1.77 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $7.08 annualized dividend and a yield of 2.44%. 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. Wells Fargo & Company increased their target price on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Citigroup increased their price objective on shares of Air Products and Chemicals from $280.00 to $305.00 and gave the company a “buy” rating in a report on Friday, July 12th. Morgan Stanley boosted their target price on Air Products and Chemicals from $240.00 to $280.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 5th. StockNews.com raised Air Products and Chemicals from a “sell” rating to a “hold” rating in a research note on Monday, September 23rd. Finally, UBS Group boosted their price objective on 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. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $296.50.

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.