Exxonmobil Investment Management Inc. TX Decreases Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Exxonmobil Investment Management Inc. TX reduced its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 13.5% during the second quarter, Holdings Channel reports. The firm owned 41,803 shares of the basic materials company’s stock after selling 6,516 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Air Products and Chemicals were worth $5,980,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. iAB Financial Bank bought a new stake in shares of Air Products and Chemicals during the first quarter valued at about $100,000. Patten Group Inc. increased its stake in shares of Air Products and Chemicals by 3.7% in the first quarter. Patten Group Inc. now owns 778 shares of the basic materials company’s stock valued at $105,000 after buying an additional 28 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Air Products and Chemicals during the first quarter valued at about $109,000. Guardian Life Insurance Co. of America increased its stake in shares of Air Products and Chemicals by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 838 shares of the basic materials company’s stock valued at $113,000 after buying an additional 6 shares in the last quarter. Finally, Webster Bank N. A. increased its stake in shares of Air Products and Chemicals by 68.2% in the first quarter. Webster Bank N. A. now owns 851 shares of the basic materials company’s stock valued at $115,000 after buying an additional 345 shares in the last quarter. 89.20% of the stock is currently owned by institutional investors and hedge funds.

Air Products and Chemicals, Inc. (NYSE:APD) traded up 3.23% during midday trading on Tuesday, hitting $146.74. The stock had a trading volume of 1,201,112 shares. The company has a market cap of $31.95 billion, a PE ratio of 10.15 and a beta of 1.26. Air Products and Chemicals, Inc. has a 52 week low of $129.00 and a 52 week high of $150.45. The stock’s 50 day moving average price is $144.39 and its 200-day moving average price is $141.76.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $1.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.59 by $0.06. The firm had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.06 billion. Air Products and Chemicals had a net margin of 36.19% and a return on equity of 19.26%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.92 earnings per share. Equities research analysts predict that Air Products and Chemicals, Inc. will post $6.16 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Stockholders of record on Tuesday, October 10th will be given a dividend of $0.95 per share. The ex-dividend date of this dividend is Friday, October 6th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.67%. Air Products and Chemicals’s payout ratio is 26.28%.

Several brokerages have recently weighed in on APD. Jefferies Group LLC restated a “hold” rating and set a $155.00 target price on shares of Air Products and Chemicals in a research note on Friday, July 14th. Zacks Investment Research downgraded Air Products and Chemicals from a “buy” rating to a “hold” rating in a research note on Monday, May 1st. BidaskClub downgraded Air Products and Chemicals from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Finally, Deutsche Bank AG upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and raised their target price for the company from $148.00 to $160.00 in a research note on Monday, May 1st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $152.85.

Air Products and Chemicals Company Profile

Air Products and Chemicals, Inc, is an industrial gases company. The Company’s Industrial Gases business provides atmospheric and process gases and related equipment to manufacturing markets, including refining and petrochemical, metals, electronics, and food and beverage. The Company is also a supplier of liquefied natural gas process technology and equipment.

Want to see what other hedge funds are holding APD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Air Products and Chemicals, Inc. (NYSE:APD).