Mediolanum International Funds Ltd Trims Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Key Points

• Mediolanum International Funds Ltd reduced its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 35.5%, holding 6,401 shares valued at approximately $1.87 million after selling 3,522 shares.
• Analysts have mixed opinions on Air Products, with Citigroup raising its price target to $320 while Bank of America downgraded it to $282, leading to an average rating of "Moderate Buy".
• Air Products recently announced a quarterly dividend of $1.79 per share, representing an annual yield of 2.43%, with a high dividend payout ratio of 104.07%.

Mediolanum International Funds Ltd lowered its holdings in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 35.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,401 shares of the basic materials company's stock after selling 3,522 shares during the quarter. Mediolanum International Funds Ltd's holdings in Air Products and Chemicals were worth $1,871,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of APD. Mantle Ridge LP acquired a new stake in shares of Air Products and Chemicals during the fourth quarter valued at about $1,191,344,000. Bank of America Corp DE boosted its position in shares of Air Products and Chemicals by 129.4% during the 4th quarter. Bank of America Corp DE now owns 5,429,147 shares of the basic materials company's stock worth $1,574,670,000 after purchasing an additional 3,062,157 shares during the period. Capital International Investors acquired a new stake in Air Products and Chemicals in the 4th quarter valued at approximately $436,636,000. GAMMA Investing LLC increased its holdings in Air Products and Chemicals by 31,752.0% in the 1st quarter. GAMMA Investing LLC now owns 1,249,871 shares of the basic materials company's stock valued at $368,612,000 after purchasing an additional 1,245,947 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Air Products and Chemicals by 159.2% during the first quarter. Principal Financial Group Inc. now owns 1,725,762 shares of the basic materials company's stock worth $508,962,000 after purchasing an additional 1,059,970 shares in the last quarter. Institutional investors and hedge funds own 81.66% of the company's stock.

Air Products and Chemicals Stock Down 2.1%

Air Products and Chemicals stock traded down $6.13 during midday trading on Friday, reaching $281.75. The company's stock had a trading volume of 455,225 shares, compared to its average volume of 1,338,932. The company has a market cap of $62.70 billion, a P/E ratio of 41.00, a P/E/G ratio of 5.57 and a beta of 0.85. 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 business has a 50-day simple moving average of $284.81 and a 200-day simple moving average of $290.65. Air Products and Chemicals, Inc. has a fifty-two week low of $243.69 and a fifty-two week high of $341.14.

Air Products and Chemicals (NYSE:APD - Get Free Report) last issued its earnings results on Thursday, July 31st. The basic materials company reported $3.09 earnings per share for the quarter, topping the consensus estimate of $2.99 by $0.10. The business had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.95 billion. Air Products and Chemicals had a return on equity of 15.48% and a net margin of 12.76%. The business's quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the company earned $3.20 EPS. On average, research analysts expect that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current fiscal year.

Air Products and Chemicals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Wednesday, October 1st will be given a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, October 1st. Air Products and Chemicals's dividend payout ratio (DPR) is 104.07%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Royal Bank Of Canada began coverage on Air Products and Chemicals in a research note on Friday, June 13th. They issued an "outperform" rating and a $355.00 price objective for the company. UBS Group lifted their target price on Air Products and Chemicals from $328.00 to $344.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Barclays cut their price target on shares of Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. Wells Fargo & Company raised their price objective on shares of Air Products and Chemicals from $320.00 to $345.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Finally, Bank of America cut shares of Air Products and Chemicals from a "neutral" rating to an "underperform" rating and dropped their price objective for the company from $330.00 to $282.00 in a report on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Air Products and Chemicals currently has an average rating of "Moderate Buy" and an average price target of $334.75.

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.