Cibc World Market Inc. trimmed its holdings in Air Products and Chemicals, Inc. (NYSE:APD – Get Rating) by 14.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,008 shares of the basic materials company’s stock after selling 172 shares during the quarter. Cibc World Market Inc.’s holdings in Air Products and Chemicals were worth $242,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sierra Capital LLC increased its holdings in Air Products and Chemicals by 1,060.0% during the 2nd quarter. Sierra Capital LLC now owns 116 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 106 shares during the period. SJS Investment Consulting Inc. acquired a new stake in shares of Air Products and Chemicals during the first quarter worth $30,000. Artemis Wealth Advisors LLC purchased a new stake in shares of Air Products and Chemicals during the second quarter valued at $33,000. Rational Advisors LLC increased its position in shares of Air Products and Chemicals by 68.6% in the 1st quarter. Rational Advisors LLC now owns 145 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 59 shares during the period. Finally, Heritage Financial Services LLC purchased a new position in Air Products and Chemicals in the 2nd quarter worth $36,000. 82.68% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on APD. StockNews.com started coverage on Air Products and Chemicals in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Bank of America increased their price target on shares of Air Products and Chemicals from $281.00 to $308.00 in a report on Monday, November 7th. Mizuho lifted their price objective on shares of Air Products and Chemicals from $286.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, November 4th. Citigroup cut their price objective on shares of Air Products and Chemicals from $272.00 to $251.00 in a research note on Tuesday, October 4th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Air Products and Chemicals from $295.00 to $290.00 in a report on Friday, November 4th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $299.28.
Air Products and Chemicals Trading Down 0.3 %
Air Products and Chemicals (NYSE:APD – Get Rating) last released its quarterly earnings data on Thursday, November 3rd. The basic materials company reported $2.89 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.13. The company had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $3.23 billion. Air Products and Chemicals had a net margin of 17.77% and a return on equity of 16.31%. The firm’s revenue for the quarter was up 25.7% on a year-over-year basis. During the same quarter last year, the company earned $2.51 earnings per share. As a group, equities research analysts expect that Air Products and Chemicals, Inc. will post 11.39 EPS for the current fiscal year.
Air Products and Chemicals Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, February 13th. Stockholders of record on Tuesday, January 3rd will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Friday, December 30th. Air Products and Chemicals’s payout ratio is currently 63.91%.
Air Products and Chemicals Profile
Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas; specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, manufacturing, food and beverage, electronics, magnetic resonance imaging, energy production and refining, and metals.
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