Grimes & Company Inc. Sells 68 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Grimes & Company Inc. cut its position in shares of Air Products and Chemicals, Inc. (NYSE:APDFree Report) by 2.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,404 shares of the basic materials company’s stock after selling 68 shares during the quarter. Grimes & Company Inc.’s holdings in Air Products and Chemicals were worth $582,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Cape Cod Five Cents Savings Bank purchased a new position in shares of Air Products and Chemicals during the third quarter worth approximately $376,000. Eos Management L.P. raised its position in Air Products and Chemicals by 26.2% in the 4th quarter. Eos Management L.P. now owns 27,558 shares of the basic materials company’s stock worth $7,545,000 after purchasing an additional 5,727 shares during the period. Roffman Miller Associates Inc. PA lifted its stake in Air Products and Chemicals by 3.6% in the fourth quarter. Roffman Miller Associates Inc. PA now owns 65,192 shares of the basic materials company’s stock worth $17,850,000 after purchasing an additional 2,285 shares during the last quarter. BKM Wealth Management LLC purchased a new stake in Air Products and Chemicals during the fourth quarter valued at about $1,177,000. Finally, Zenyatta Capital Management LP grew its stake in shares of Air Products and Chemicals by 46.7% during the fourth quarter. Zenyatta Capital Management LP now owns 22,000 shares of the basic materials company’s stock valued at $6,024,000 after buying an additional 7,000 shares during the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on APD shares. Citigroup lowered their target price on Air Products and Chemicals from $285.00 to $280.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Morgan Stanley boosted their price objective on Air Products and Chemicals from $240.00 to $280.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 5th. Deutsche Bank Aktiengesellschaft increased their price objective on Air Products and Chemicals from $260.00 to $310.00 and gave the company a “buy” rating in a research note on Monday, June 10th. JPMorgan Chase & Co. decreased their target price on shares of Air Products and Chemicals from $270.00 to $260.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. Finally, Mizuho dropped their price target on shares of Air Products and Chemicals from $295.00 to $286.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $287.29.

Read Our Latest Report on Air Products and Chemicals

Air Products and Chemicals Stock Performance

Shares of APD opened at $258.05 on Friday. Air Products and Chemicals, Inc. has a one year low of $212.24 and a one year high of $307.71. The company has a 50-day simple moving average of $259.73 and a two-hundred day simple moving average of $251.83. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.49 and a quick ratio of 1.31. The firm has a market capitalization of $57.37 billion, a PE ratio of 23.29, a price-to-earnings-growth ratio of 2.80 and a beta of 0.84.

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

Air Products and Chemicals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 12th. Stockholders 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 2.74%. The ex-dividend date is Monday, July 1st. Air Products and Chemicals’s dividend payout ratio is presently 63.90%.

About Air Products and Chemicals

(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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