Prio Wealth Limited Partnership Sells 266 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Prio Wealth Limited Partnership decreased its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 1.8% in the second quarter, Holdings Channel reports. The fund owned 14,275 shares of the basic materials company’s stock after selling 266 shares during the quarter. Prio Wealth Limited Partnership’s holdings in Air Products and Chemicals were worth $3,684,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Heritage Wealth Management Inc. bought a new stake in Air Products and Chemicals in the second quarter worth about $1,047,000. Sanctuary Advisors LLC bought a new stake in Air Products and Chemicals in the second quarter worth about $17,233,000. Heritage Oak Wealth Advisors LLC bought a new stake in Air Products and Chemicals in the second quarter worth about $314,000. Clearbridge Investments LLC lifted its stake in Air Products and Chemicals by 25.2% in the second quarter. Clearbridge Investments LLC now owns 1,936,582 shares of the basic materials company’s stock worth $499,735,000 after purchasing an additional 389,380 shares during the last quarter. Finally, 3Chopt Investment Partners LLC bought a new stake in Air Products and Chemicals in the second quarter worth about $580,000. Institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Price Performance

Shares of APD opened at $291.42 on Wednesday. The company has a market cap of $64.78 billion, a price-to-earnings ratio of 26.30, a price-to-earnings-growth ratio of 3.89 and a beta of 0.82. Air Products and Chemicals, Inc. has a twelve month low of $212.24 and a twelve month high of $302.03. 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 company has a 50 day moving average of $279.04 and a two-hundred day moving average of $262.29.

Air Products and Chemicals (NYSE:APD) last announced its earnings results on Thursday, August 1st. The basic materials company reported $3.20 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.16. The company had revenue of $2.99 billion during 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%. As a group, analysts predict that Air Products and Chemicals, Inc. will post 12.33 earnings per share 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 paid a dividend of $1.77 per share. The ex-dividend date is Tuesday, October 1st. This represents a $7.08 annualized dividend and a dividend yield of 2.43%. Air Products and Chemicals’s payout ratio is currently 63.90%.

Analyst Ratings Changes

A number of brokerages have recently commented on APD. Barclays raised their target price on shares of Air Products and Chemicals from $290.00 to $295.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. BMO Capital Markets raised their target price on shares of 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. Deutsche Bank Aktiengesellschaft lowered shares of Air Products and Chemicals from a “buy” rating to a “hold” rating and reduced their target price for the stock from $310.00 to $280.00 in a research report on Monday, July 22nd. Citigroup raised their target price on shares of 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. Finally, JPMorgan Chase & Co. raised their target price on shares of Air Products and Chemicals from $300.00 to $340.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, 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.