MGO One Seven LLC Sells 1,863 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Key Points

• MGO One Seven LLC reduced its stake in Air Products and Chemicals by 10.3% during the first quarter, now owning 16,183 shares valued at $4.77 million.
• Air Products and Chemicals reported a quarterly earnings per share of $3.09, exceeding analysts' expectations of $2.99, with revenue of $3.02 billion for the quarter.
• A quarterly dividend of $1.79 per share will be paid on November 10th, with an annualized yield of 2.5%.

MGO One Seven LLC trimmed its position in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 10.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,183 shares of the basic materials company's stock after selling 1,863 shares during the period. MGO One Seven LLC's holdings in Air Products and Chemicals were worth $4,773,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of APD. Wayfinding Financial LLC bought a new stake in shares of Air Products and Chemicals in the 1st quarter worth approximately $25,000. Citizens National Bank Trust Department boosted its position in shares of Air Products and Chemicals by 833.3% during the first quarter. Citizens National Bank Trust Department now owns 112 shares of the basic materials company's stock valued at $33,000 after purchasing an additional 100 shares in the last quarter. Sunbelt Securities Inc. boosted its position in shares of Air Products and Chemicals by 525.9% during the fourth quarter. Sunbelt Securities Inc. now owns 169 shares of the basic materials company's stock valued at $49,000 after purchasing an additional 142 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of Air Products and Chemicals during the fourth quarter valued at approximately $50,000. Finally, Peoples Bank KS bought a new stake in shares of Air Products and Chemicals during the first quarter valued at approximately $59,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Performance

Shares of NYSE:APD traded up $5.25 during midday trading on Monday, reaching $287.00. 849,324 shares of the company's stock traded hands, compared to its average volume of 1,337,493. The company has a market cap of $63.87 billion, a price-to-earnings ratio of 41.30, a P/E/G ratio of 5.41 and a beta of 0.81. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.12 and a current ratio of 1.29. Air Products and Chemicals, Inc. has a one year low of $243.69 and a one year high of $341.14. The stock has a 50 day moving average of $285.05 and a 200 day moving average of $290.21.

Air Products and Chemicals (NYSE:APD - Get Free Report) last posted its earnings results on Thursday, July 31st. The basic materials company reported $3.09 earnings per share for the quarter, beating analysts' consensus estimates of $2.99 by $0.10. Air Products and Chemicals had a return on equity of 15.11% and a net margin of 12.86%. The company had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the prior year, the company earned $3.20 earnings per share. Air Products and Chemicals's revenue was up 1.2% on a year-over-year basis. As a group, equities research analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Wednesday, October 1st will be issued a $1.79 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $7.16 dividend on an annualized basis and a yield of 2.5%. Air Products and Chemicals's dividend payout ratio is currently 103.02%.

Analysts Set New Price Targets

APD has been the topic of several research reports. Barclays dropped their price target on Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Morgan Stanley began coverage on Air Products and Chemicals in a research note on Thursday, May 29th. They issued an "equal weight" rating and a $290.00 price target on the stock. Bank of America downgraded Air Products and Chemicals from a "neutral" rating to an "underperform" rating and cut their price target for the stock from $330.00 to $282.00 in a research note on Tuesday, April 15th. Wall Street Zen raised Air Products and Chemicals from a "sell" rating to a "hold" rating in a report on Saturday. Finally, Citigroup boosted their target price on Air Products and Chemicals from $310.00 to $320.00 and gave the stock a "buy" rating in a report on Monday, June 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Air Products and Chemicals presently has a consensus rating of "Moderate Buy" and an average target price of $334.75.

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.