Air Products and Chemicals, Inc. $APD Stock Sold by Oppenheimer & Co. Inc.

Key Points

• Oppenheimer & Co. reduced its Air Products and Chemicals position by 12.5% in the third quarter, selling 3,353 shares and retaining 23,422 shares valued at approximately $6.5 million. Institutional investors collectively own 81.66% of APD.
• Analyst sentiment remains positive overall, with a consensus rating of “Moderate Buy” and an average price target of $333.88, although UBS and Citigroup recently lowered their targets and maintained neutral ratings.
• Air Products reported quarterly EPS of $3.47, beating estimates, while revenue rose 4.6% year over year to $3.16 billion. The company also declared a quarterly dividend of $1.81 per share, representing an annualized yield of about 2.4%.

Oppenheimer & Co. Inc. lowered its position in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 12.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,422 shares of the basic materials company's stock after selling 3,353 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Air Products and Chemicals were worth $6,517,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in APD. Evolution Wealth Management Inc. bought a new position in shares of Air Products and Chemicals during the first quarter valued at $25,000. Fiduciary Financial Advisors acquired a new position in shares of Air Products and Chemicals in the second quarter worth approximately $25,000. Cornerstone Planning Group LLC boosted its holdings in Air Products and Chemicals by 318.2% in the first quarter. Cornerstone Planning Group LLC now owns 92 shares of the basic materials company's stock valued at $28,000 after acquiring an additional 70 shares during the last quarter. Main Street Group LTD acquired a new stake in Air Products and Chemicals during the 1st quarter valued at approximately $27,000. Finally, MJT & Associates Financial Advisory Group Inc. increased its position in shares of Air Products and Chemicals by 77.6% during the third quarter. MJT & Associates Financial Advisory Group Inc. now owns 103 shares of the basic materials company's stock worth $28,000 after buying an additional 45 shares during the period. Institutional investors own 81.66% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. UBS Group cut their price target on shares of Air Products and Chemicals from $336.00 to $305.00 and set a "neutral" rating on the stock in a research report on Monday, October 5th. Citigroup dropped their price objective on Air Products and Chemicals from $330.00 to $312.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 7th. Argus upped their target price on Air Products and Chemicals from $316.00 to $329.00 and gave the company a "buy" rating in a research report on Wednesday, September 9th. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $373.00 target price on shares of Air Products and Chemicals in a research note on Friday, July 31st. Finally, Morgan Stanley set a $320.00 target price on Air Products and Chemicals in a report on Monday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $333.88.

Air Products and Chemicals Price Performance

Shares of APD opened at $306.64 on Thursday. The business's fifty day moving average is $293.77 and its 200 day moving average is $289.25. Air Products and Chemicals, Inc. has a 12-month low of $229.11 and a 12-month high of $314.87. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.01. The stock has a market cap of $68.29 billion, a P/E ratio of -1,393.81, a P/E/G ratio of 2.89 and a beta of 0.76.

Air Products and Chemicals (NYSE:APD - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The basic materials company reported $3.47 EPS for the quarter, beating analysts' consensus estimates of $3.34 by $0.13. Air Products and Chemicals had a negative net margin of 0.38% and a positive return on equity of 16.87%. The business had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.20 billion. During the same quarter in the previous year, the business posted $3.09 EPS. Air Products and Chemicals's quarterly revenue was up 4.6% on a year-over-year basis. Sell-side analysts anticipate that Air Products and Chemicals, Inc. will post 13.46 earnings per share for the current fiscal year.

Air Products and Chemicals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 8th. Shareholders of record on Monday, January 4th will be paid a dividend of $1.81 per share. The ex-dividend date is Monday, January 4th. This represents a $7.24 dividend on an annualized basis and a yield of 2.4%. Air Products and Chemicals's payout ratio is -3,290.91%.

Air Products and Chemicals Profile

Air Products and Chemicals, Inc is a global industrial gas and related equipment company serving customers in industries such as refining, chemicals, manufacturing, metals, electronics, food and beverage, healthcare, and energy. The company supplies atmospheric gases, including oxygen, nitrogen and argon, as well as hydrogen, helium, carbon dioxide, specialty gases and other industrial gases.

Air Products produces and distributes gases through pipelines, on-site facilities, bulk deliveries and packaged-gas systems.

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