Madison Asset Management LLC Sells 8,105 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Madison Asset Management LLC lessened its stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 18.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,368 shares of the basic materials company's stock after selling 8,105 shares during the period. Madison Asset Management LLC's holdings in Air Products and Chemicals were worth $10,431,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of APD. Brighton Jones LLC raised its position in Air Products and Chemicals by 14.5% in the 4th quarter. Brighton Jones LLC now owns 3,260 shares of the basic materials company's stock worth $945,000 after purchasing an additional 412 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Air Products and Chemicals during the 4th quarter valued at $246,000. American Century Companies Inc. raised its position in shares of Air Products and Chemicals by 11.2% during the 4th quarter. American Century Companies Inc. now owns 52,503 shares of the basic materials company's stock valued at $15,228,000 after acquiring an additional 5,286 shares during the last quarter. EntryPoint Capital LLC bought a new stake in shares of Air Products and Chemicals during the 4th quarter valued at $230,000. Finally, Modern Wealth Management LLC grew its holdings in shares of Air Products and Chemicals by 5.5% in the 4th quarter. Modern Wealth Management LLC now owns 1,728 shares of the basic materials company's stock valued at $537,000 after buying an additional 90 shares during the period. Institutional investors own 81.66% of the company's stock.

Air Products and Chemicals Stock Performance

Shares of APD stock traded up $2.02 on Friday, reaching $299.24. The stock had a trading volume of 712,968 shares, compared to its average volume of 1,352,296. The company has a quick ratio of 0.85, a current ratio of 1.00 and a debt-to-equity ratio of 0.85. The firm's 50-day moving average is $282.86 and its two-hundred day moving average is $290.54. The firm has a market capitalization of $66.59 billion, a price-to-earnings ratio of 43.49, a P/E/G ratio of 5.71 and a beta of 0.85. Air Products and Chemicals, Inc. has a 12 month low of $243.69 and a 12 month high of $341.14.

Air Products and Chemicals (NYSE:APD - Get Free Report) last issued its earnings results on Thursday, May 1st. The basic materials company reported $2.69 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.83 by ($0.14). The firm had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.94 billion. Air Products and Chemicals had a net margin of 12.76% and a return on equity of 15.48%. The firm's revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.85 earnings per share. On average, research analysts expect that Air Products and Chemicals, Inc. will post 12.69 EPS 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, November 10th. Shareholders of record on Wednesday, October 1st will be given a dividend of $1.79 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.39%. Air Products and Chemicals's payout ratio is presently 104.07%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. UBS Group boosted their price target on shares of Air Products and Chemicals from $328.00 to $344.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Citigroup boosted their price target on shares of Air Products and Chemicals from $310.00 to $320.00 and gave the company a "buy" rating in a report on Monday, June 30th. Bank of America lowered shares of Air Products and Chemicals from a "neutral" rating to an "underperform" rating and decreased their price target for the company from $330.00 to $282.00 in a report on Tuesday, April 15th. Wells Fargo & Company upped their target price on shares of Air Products and Chemicals from $320.00 to $345.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Finally, Morgan Stanley began coverage on shares of Air Products and Chemicals in a research note on Thursday, May 29th. They issued an "equal weight" rating and a $290.00 target price for the company. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Air Products and Chemicals has an average rating of "Moderate Buy" and a consensus price target of $334.75.

About Air Products and Chemicals

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.