Allspring Global Investments Holdings LLC Sells 87 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Allspring Global Investments Holdings LLC lessened its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 0.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,303 shares of the basic materials company’s stock after selling 87 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Air Products and Chemicals were worth $3,023,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Air Products and Chemicals by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 21,485,176 shares of the basic materials company’s stock valued at $6,231,560,000 after purchasing an additional 207,404 shares in the last quarter. Dodge & Cox raised its stake in shares of Air Products and Chemicals by 1.0% in the fourth quarter. Dodge & Cox now owns 6,663,154 shares of the basic materials company’s stock valued at $1,932,581,000 after purchasing an additional 64,960 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Air Products and Chemicals by 129.4% in the fourth quarter. Bank of America Corp DE now owns 5,429,147 shares of the basic materials company’s stock valued at $1,574,670,000 after purchasing an additional 3,062,157 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Air Products and Chemicals by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 4,931,661 shares of the basic materials company’s stock valued at $1,430,354,000 after purchasing an additional 57,314 shares in the last quarter. Finally, Mantle Ridge LP acquired a new position in shares of Air Products and Chemicals in the fourth quarter valued at $1,191,344,000. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Air Products and Chemicals Trading Up 0.5%

Shares of APD opened at $291.84 on Monday. The company has a quick ratio of 0.85, a current ratio of 1.00 and a debt-to-equity ratio of 0.85. Air Products and Chemicals, Inc. has a 12-month low of $243.69 and a 12-month high of $341.14. The firm has a market capitalization of $64.95 billion, a PE ratio of 42.42, a price-to-earnings-growth ratio of 5.60 and a beta of 0.85. The stock’s fifty day simple moving average is $276.82 and its 200-day simple moving average is $290.28.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings results on Thursday, May 1st. The basic materials company reported $2.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.83 by ($0.14). Air Products and Chemicals had a net margin of 12.76% and a return on equity of 15.48%. The firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same period last year, the company earned $2.85 EPS. The company’s revenue was down .5% compared to the same quarter last year. As a group, research analysts predict that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Stockholders of record on Tuesday, July 1st will be paid a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Tuesday, July 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 104.07%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Bank of America lowered Air Products and Chemicals from a “neutral” rating to an “underperform” rating and cut their target price for the company from $330.00 to $282.00 in a research note on Tuesday, April 15th. Wells Fargo & Company lowered their price target on Air Products and Chemicals from $365.00 to $320.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th. UBS Group lowered their price target on Air Products and Chemicals from $335.00 to $324.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Barclays lowered their price target on Air Products and Chemicals from $355.00 to $325.00 and set an “overweight” rating on the stock in a research report on Friday, May 2nd. Finally, Morgan Stanley initiated coverage on Air Products and Chemicals in a research report on Thursday, May 29th. They issued an “equal weight” rating and a $290.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $330.94.

Air Products and Chemicals 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.