Hendley & Co. Inc. Sells 17,967 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Hendley & Co. Inc. cut its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 63.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,333 shares of the basic materials company's stock after selling 17,967 shares during the quarter. Hendley & Co. Inc.'s holdings in Air Products and Chemicals were worth $3,047,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Brighton Jones LLC raised its stake in shares of Air Products and Chemicals by 14.5% during the fourth quarter. Brighton Jones LLC now owns 3,260 shares of the basic materials company's stock valued at $945,000 after acquiring an additional 412 shares during the last quarter. Fisher Asset Management LLC raised its position in Air Products and Chemicals by 10.7% during the 4th quarter. Fisher Asset Management LLC now owns 1,150 shares of the basic materials company's stock valued at $334,000 after purchasing an additional 111 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Air Products and Chemicals in the 4th quarter worth approximately $116,000. Proficio Capital Partners LLC bought a new stake in shares of Air Products and Chemicals in the 4th quarter worth approximately $246,000. Finally, Ashton Thomas Private Wealth LLC increased its stake in shares of Air Products and Chemicals by 16.6% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 2,831 shares of the basic materials company's stock valued at $821,000 after buying an additional 404 shares during the period. 81.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on APD. Bank of America cut shares of Air Products and Chemicals from a "neutral" rating to an "underperform" rating and cut their price target for the company from $330.00 to $282.00 in a report on Tuesday, April 15th. Royal Bank Of Canada initiated coverage on shares of Air Products and Chemicals in a research note on Friday, June 13th. They set an "outperform" rating and a $355.00 target price on the stock. Citigroup increased their price target on shares of Air Products and Chemicals from $310.00 to $320.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. Barclays lowered 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 report on Friday, May 2nd. Finally, Wells Fargo & Company reduced their target price on Air Products and Chemicals from $365.00 to $320.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. 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 given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $330.94.

Air Products and Chemicals Stock Up 1.1%

Shares of NYSE APD traded up $3.30 during trading on Tuesday, reaching $292.32. The company had a trading volume of 968,319 shares, compared to its average volume of 1,369,735. 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 quick ratio of 0.85, a current ratio of 1.00 and a debt-to-equity ratio of 0.85. The business's 50-day moving average is $277.64 and its 200 day moving average is $290.26. The stock has a market cap of $65.05 billion, a PE ratio of 42.49, a P/E/G ratio of 5.55 and a beta of 0.85.

Air Products and Chemicals (NYSE:APD - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The basic materials company reported $2.69 EPS for the quarter, missing the consensus estimate of $2.83 by ($0.14). The firm 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 revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the company posted $2.85 earnings per share. As a group, equities analysts forecast that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Tuesday, July 1st will be issued a $1.79 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $7.16 dividend on an annualized basis and a yield of 2.45%. Air Products and Chemicals's payout ratio is currently 104.07%.

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.