Hartford Investment Management Co. reduced its position in Air Products and Chemicals, Inc. (NYSE:APD) by 5.3% during the second quarter, Holdings Channel reports. The institutional investor owned 47,347 shares of the basic materials company’s stock after selling 2,637 shares during the period. Hartford Investment Management Co.’s holdings in Air Products and Chemicals were worth $6,773,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the company. iAB Financial Bank bought a new position in Air Products and Chemicals during the first quarter worth $100,000. Patten Group Inc. boosted its position in 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 worth $105,000 after buying an additional 28 shares in the last quarter. State of Alaska Department of Revenue bought a new position in Air Products and Chemicals during the first quarter worth $109,000. Guardian Life Insurance Co. of America boosted its position in 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 worth $113,000 after buying an additional 6 shares in the last quarter. Finally, Webster Bank N. A. boosted its position in 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 worth $115,000 after buying an additional 345 shares in the last quarter. Hedge funds and other institutional investors own 88.92% of the company’s stock.
Shares of Air Products and Chemicals, Inc. (NYSE APD) traded down 0.66% during trading on Tuesday, hitting $146.33. The company’s stock had a trading volume of 281,850 shares. Air Products and Chemicals, Inc. has a 1-year low of $129.00 and a 1-year high of $150.45. The company has a market capitalization of $31.89 billion, a P/E ratio of 10.99 and a beta of 1.25. The firm’s 50 day moving average is $144.52 and its 200-day moving average is $141.78.
Air Products and Chemicals (NYSE:APD) last released its earnings results on Tuesday, August 1st. The basic materials company reported $1.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.59 by $0.06. The firm had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.06 billion. Air Products and Chemicals had a return on equity of 17.23% and a net margin of 34.63%. The company’s revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.92 EPS. Analysts forecast that Air Products and Chemicals, Inc. will post $6.22 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Tuesday, October 10th will be issued a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend is Friday, October 6th. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 28.51%.
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A number of research firms have weighed in on APD. Deutsche Bank AG upped their price target on Air Products and Chemicals from $160.00 to $168.00 and gave the stock a “hold” rating in a report on Wednesday, August 2nd. Barclays PLC restated a “buy” rating and issued a $170.00 price target on shares of Air Products and Chemicals in a report on Friday. Credit Suisse Group restated an “outperform” rating and issued a $158.00 price target (up previously from $153.00) on shares of Air Products and Chemicals in a report on Wednesday, August 2nd. Vertical Research upgraded Air Products and Chemicals from a “sell” rating to a “hold” rating and set a $146.00 price target for the company in a report on Monday. Finally, Jefferies Group LLC restated a “hold” rating and issued a $155.00 price target on shares of Air Products and Chemicals in a report on Friday, July 14th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $153.29.
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.
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