Exxonmobil Investment Management Inc. TX reduced its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 13.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund 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 institutional investors also recently made changes to their positions in APD. iAB Financial Bank bought a new position in shares of Air Products and Chemicals during the first quarter valued at $100,000. Patten Group Inc. boosted its position 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 during the period. State of Alaska Department of Revenue bought a new position in shares of Air Products and Chemicals during the first quarter valued at $109,000. Guardian Life Insurance Co. of America boosted its position 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 during the period. Finally, Webster Bank N. A. boosted its position 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 during the period. Institutional investors own 88.92% of the company’s stock.
Shares of Air Products and Chemicals, Inc. (NYSE APD) opened at 144.60 on Friday. The company has a market cap of $31.52 billion, a price-to-earnings ratio of 10.86 and a beta of 1.25. Air Products and Chemicals, Inc. has a 52 week low of $129.00 and a 52 week high of $150.45. The firm’s 50-day moving average price is $144.81 and its 200 day moving average price is $141.90.
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, beating the Zacks’ consensus estimate of $1.59 by $0.06. The firm had revenue of $2.12 billion during 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 business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.92 earnings per share. On average, equities research analysts forecast that Air Products and Chemicals, Inc. will post $6.23 EPS for the current year.
The company also recently disclosed 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 is Friday, October 6th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.63%. Air Products and Chemicals’s payout ratio is 28.51%.
APD has been the subject of several research analyst reports. Credit Suisse Group reissued an “outperform” rating and set a $158.00 price objective (up previously from $153.00) on shares of Air Products and Chemicals in a research note on Wednesday, August 2nd. Deutsche Bank AG raised Air Products and Chemicals from a “hold” rating to a “buy” rating and lifted their price objective for the company from $148.00 to $160.00 in a research note on Monday, May 1st. Barclays PLC reissued a “buy” rating and set a $170.00 price objective on shares of Air Products and Chemicals in a research note on Friday, August 4th. BidaskClub lowered Air Products and Chemicals from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Finally, Vertical Research raised Air Products and Chemicals from a “sell” rating to a “hold” rating and set a $146.00 price objective for the company in a research note on Monday, August 7th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. Air Products and Chemicals currently has a consensus rating of “Hold” and a consensus target price of $153.29.
About Air Products and Chemicals
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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