Graypoint LLC Cuts Position in Air Products and Chemicals, Inc. (NYSE:APD)

Graypoint LLC cut its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 14.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,316 shares of the basic materials company’s stock after selling 223 shares during the quarter. Graypoint LLC’s holdings in Air Products and Chemicals were worth $340,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Sachetta LLC bought a new stake in shares of Air Products and Chemicals in the 4th quarter valued at approximately $27,000. Security National Bank bought a new stake in Air Products and Chemicals in the fourth quarter worth about $27,000. Thompson Investment Management Inc. bought a new position in shares of Air Products and Chemicals during the first quarter valued at approximately $27,000. Transcendent Capital Group LLC purchased a new position in Air Products and Chemicals during the 4th quarter valued at $28,000. Finally, Hexagon Capital Partners LLC lifted its holdings in Air Products and Chemicals by 2,250.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 141 shares of the basic materials company’s stock valued at $34,000 after buying an additional 135 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Up 0.6 %

Shares of APD stock opened at $278.85 on Monday. Air Products and Chemicals, Inc. has a twelve month low of $212.24 and a twelve month high of $307.71. The stock has a market cap of $61.99 billion, a P/E ratio of 25.17, a P/E/G ratio of 3.72 and a beta of 0.81. The stock has a 50 day moving average of $267.41 and a 200 day moving average of $254.73. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.77.

Air Products and Chemicals (NYSE:APD) last posted its earnings results on Thursday, August 1st. The basic materials company reported $3.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.16. The firm had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. As a group, sell-side analysts expect that Air Products and Chemicals, Inc. will post 12.32 EPS for the current year.

Air Products and Chemicals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, October 1st will be paid a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend is Tuesday, October 1st. Air Products and Chemicals’s payout ratio is 63.90%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on APD shares. BMO Capital Markets raised their price target on Air Products and Chemicals from $300.00 to $323.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. UBS Group increased their price objective on shares of Air Products and Chemicals from $276.00 to $281.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. StockNews.com raised shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a research report on Tuesday, August 20th. Bank of America lifted their price objective on shares of Air Products and Chemicals from $275.00 to $312.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Air Products and Chemicals from a “buy” rating to a “hold” rating and decreased their target price for the company from $310.00 to $280.00 in a research report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Air Products and Chemicals presently has a consensus rating of “Hold” and an average target price of $297.40.

Air Products and Chemicals Company Profile

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.