Oakview Capital Management L.P. Has $3.82 Million Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Oakview Capital Management L.P. reduced its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 57.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,791 shares of the basic materials company’s stock after selling 19,741 shares during the quarter. Air Products and Chemicals makes up 12.0% of Oakview Capital Management L.P.’s investment portfolio, making the stock its 2nd largest holding. Oakview Capital Management L.P.’s holdings in Air Products and Chemicals were worth $3,817,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Gryphon Financial Partners LLC purchased a new position in shares of Air Products and Chemicals in the 4th quarter worth approximately $486,000. Evoke Wealth LLC purchased a new position in Air Products and Chemicals in the fourth quarter worth $1,171,000. Dorsey & Whitney Trust CO LLC grew its stake in Air Products and Chemicals by 5.3% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 4,421 shares of the basic materials company’s stock valued at $1,210,000 after purchasing an additional 224 shares during the period. Bank of Nova Scotia increased its position in shares of Air Products and Chemicals by 253.8% during the 4th quarter. Bank of Nova Scotia now owns 210,409 shares of the basic materials company’s stock valued at $57,608,000 after purchasing an additional 150,946 shares during the last quarter. Finally, Eagle Asset Management Inc. purchased a new stake in shares of Air Products and Chemicals during the 4th quarter valued at $1,440,000. 81.66% of the stock is currently owned by institutional investors.

Air Products and Chemicals Stock Performance

NYSE:APD opened at $300.36 on Friday. Air Products and Chemicals, Inc. has a 52-week low of $212.24 and a 52-week high of $302.03. The business’s fifty day moving average is $277.35 and its 200 day moving average is $261.38. 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 firm 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 (NYSE:APD) last announced its quarterly earnings results on Thursday, August 1st. The basic materials company reported $3.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.04 by $0.16. The firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $3.04 billion. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. Research analysts predict that Air Products and Chemicals, Inc. will post 12.33 EPS 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. Shareholders of record on Tuesday, October 1st will be issued a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend is Tuesday, October 1st. Air Products and Chemicals’s payout ratio is 63.90%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on APD shares. Wells Fargo & Company boosted their price target 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. Barclays increased their target price on shares of Air Products and Chemicals from $290.00 to $295.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. UBS Group lifted their price target on shares of Air Products and Chemicals from $276.00 to $281.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Morgan Stanley upped their price objective on Air Products and Chemicals from $240.00 to $280.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 5th. Finally, The Goldman Sachs Group raised their target price 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. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $296.50.

Air Products and Chemicals Company 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.