Core Alternative Capital Cuts Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Core Alternative Capital lessened its holdings in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 17.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 20,261 shares of the basic materials company's stock after selling 4,411 shares during the period. Air Products and Chemicals comprises 1.4% of Core Alternative Capital's holdings, making the stock its 26th biggest position. Core Alternative Capital's holdings in Air Products and Chemicals were worth $5,964,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. World Investment Advisors boosted its holdings in shares of Air Products and Chemicals by 0.7% in the 1st quarter. World Investment Advisors now owns 41,571 shares of the basic materials company's stock valued at $12,260,000 after buying an additional 282 shares in the last quarter. Wayfinding Financial LLC purchased a new stake in Air Products and Chemicals during the first quarter valued at approximately $25,000. Truist Financial Corp lifted its position in Air Products and Chemicals by 9.2% during the first quarter. Truist Financial Corp now owns 118,148 shares of the basic materials company's stock valued at $34,844,000 after acquiring an additional 9,951 shares during the last quarter. Impax Asset Management Group plc lifted its position in Air Products and Chemicals by 3.6% during the first quarter. Impax Asset Management Group plc now owns 11,110 shares of the basic materials company's stock valued at $3,277,000 after acquiring an additional 382 shares during the last quarter. Finally, Brookstone Capital Management lifted its position in Air Products and Chemicals by 26.9% during the first quarter. Brookstone Capital Management now owns 5,282 shares of the basic materials company's stock valued at $1,558,000 after acquiring an additional 1,119 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company's stock.

Air Products and Chemicals Stock Performance

Shares of NYSE APD traded down $2.57 during trading on Monday, reaching $289.27. 979,730 shares of the company traded hands, compared to its average volume of 1,370,588. The firm's fifty day simple moving average is $276.82 and its 200 day simple moving average is $290.28. The stock has a market cap of $64.37 billion, a P/E ratio of 42.05, a PEG ratio of 5.60 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. The company has a current ratio of 1.00, a quick ratio of 0.85 and a debt-to-equity ratio of 0.85.

Air Products and Chemicals (NYSE:APD - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The basic materials company reported $2.69 earnings per share for the quarter, missing analysts' consensus estimates of $2.83 by ($0.14). The company had revenue of $2.92 billion for the quarter, compared to analysts' expectations of $2.94 billion. Air Products and Chemicals had a net margin of 12.76% and a return on equity of 15.48%. The business's quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.85 EPS. As a group, research analysts anticipate 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 company also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Stockholders of record on Tuesday, July 1st will be issued a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend is Tuesday, July 1st. Air Products and Chemicals's dividend payout ratio (DPR) is 104.07%.

Analyst Ratings Changes

APD has been the subject of several analyst reports. UBS Group decreased their price objective on Air Products and Chemicals from $335.00 to $324.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Bank of America lowered Air Products and Chemicals from a "neutral" rating to an "underperform" rating and decreased their price objective for the company from $330.00 to $282.00 in a report on Tuesday, April 15th. Royal Bank Of Canada initiated coverage on Air Products and Chemicals in a research note on Friday, June 13th. They issued an "outperform" rating and a $355.00 price target for the company. Wells Fargo & Company decreased their price target on Air Products and Chemicals from $365.00 to $320.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Finally, Barclays decreased their price objective on shares of Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Air Products and Chemicals 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.