Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its position in Air Products and Chemicals, Inc. (NYSE:APDFree Report) by 4.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 154,262 shares of the basic materials company’s stock after selling 6,966 shares during the period. The Manufacturers Life Insurance Company owned about 0.07% of Air Products and Chemicals worth $42,237,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Air Products and Chemicals during the 4th quarter worth $27,000. Roble Belko & Company Inc purchased a new stake in Air Products and Chemicals in the 4th quarter valued at about $27,000. Sachetta LLC acquired a new position in shares of Air Products and Chemicals during the 4th quarter valued at about $27,000. Stuart Chaussee & Associates Inc. lifted its holdings in shares of Air Products and Chemicals by 257.6% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 118 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 85 shares during the period. Finally, Rakuten Securities Inc. acquired a new stake in shares of Air Products and Chemicals in the fourth quarter worth approximately $33,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on APD. UBS Group downgraded shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating and cut their price target for the stock from $328.00 to $241.00 in a research note on Thursday, February 8th. Argus lowered Air Products and Chemicals from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Morgan Stanley upped their price target on Air Products and Chemicals from $240.00 to $280.00 and gave the stock an “equal weight” rating in a research note on Wednesday. TD Cowen lifted their price objective on Air Products and Chemicals from $305.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Finally, JPMorgan Chase & Co. dropped their target price on shares of Air Products and Chemicals from $270.00 to $260.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $277.85.

Get Our Latest Report on APD

Air Products and Chemicals Price Performance

Shares of APD stock opened at $270.33 on Thursday. The firm has a fifty day simple moving average of $247.16 and a 200-day simple moving average of $251.32. The company has a market capitalization of $60.10 billion, a PE ratio of 24.40, a price-to-earnings-growth ratio of 2.94 and a beta of 0.84. Air Products and Chemicals, Inc. has a twelve month low of $212.24 and a twelve month high of $307.71. The company has a current ratio of 1.49, a quick ratio of 1.31 and a debt-to-equity ratio of 0.77.

Air Products and Chemicals (NYSE:APDGet Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share for the quarter, beating analysts’ consensus estimates of $2.70 by $0.15. Air Products and Chemicals had a net margin of 20.32% and a return on equity of 16.56%. The company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $3.05 billion. During the same period in the prior year, the company posted $2.74 EPS. The firm’s revenue for the quarter was down 8.4% on a year-over-year basis. Equities research analysts anticipate that Air Products and Chemicals, Inc. will post 12.3 earnings per share for the current fiscal year.

Air Products and Chemicals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 12th. Shareholders of record on Monday, July 1st will be given a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend is Monday, July 1st. Air Products and Chemicals’s payout ratio is 63.90%.

Air Products and Chemicals Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Air Products and Chemicals (NYSE:APD)

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