Morningstar Investment Services LLC Has $3.96 Million Position in Air Products and Chemicals, Inc. (NYSE:APD)

Morningstar Investment Services LLC trimmed its holdings in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 58.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,422 shares of the basic materials company's stock after selling 19,022 shares during the quarter. Morningstar Investment Services LLC's holdings in Air Products and Chemicals were worth $3,959,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Baker Avenue Asset Management LP lifted its stake in Air Products and Chemicals by 2.3% in the 4th quarter. Baker Avenue Asset Management LP now owns 1,540 shares of the basic materials company's stock valued at $447,000 after buying an additional 34 shares in the last quarter. Cyrus J. Lawrence LLC boosted its stake in shares of Air Products and Chemicals by 1.0% during the 4th quarter. Cyrus J. Lawrence LLC now owns 3,597 shares of the basic materials company's stock worth $1,043,000 after purchasing an additional 37 shares during the last quarter. West Branch Capital LLC boosted its stake in shares of Air Products and Chemicals by 10.2% during the 1st quarter. West Branch Capital LLC now owns 421 shares of the basic materials company's stock worth $124,000 after purchasing an additional 39 shares during the last quarter. Kathmere Capital Management LLC boosted its stake in shares of Air Products and Chemicals by 2.6% during the 1st quarter. Kathmere Capital Management LLC now owns 1,541 shares of the basic materials company's stock worth $454,000 after purchasing an additional 39 shares during the last quarter. Finally, Ferguson Wellman Capital Management Inc. lifted its holdings in shares of Air Products and Chemicals by 1.6% during the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 2,499 shares of the basic materials company's stock worth $737,000 after acquiring an additional 40 shares during the period. 81.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

APD has been the subject of several recent analyst reports. Royal Bank Of Canada initiated coverage on Air Products and Chemicals in a research note on Friday, June 13th. They set an "outperform" rating and a $355.00 target price for the company. UBS Group increased their price objective on shares of Air Products and Chemicals from $328.00 to $344.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Citigroup increased their price objective on shares of Air Products and Chemicals from $310.00 to $320.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Morgan Stanley assumed coverage on shares of Air Products and Chemicals in a research note on Thursday, May 29th. They set an "equal weight" rating and a $290.00 price objective on the stock. Finally, Mizuho increased their price objective on shares of Air Products and Chemicals from $310.00 to $325.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Two analysts have rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Air Products and Chemicals has an average rating of "Moderate Buy" and a consensus price target of $331.53.

Air Products and Chemicals Price Performance

Air Products and Chemicals stock traded up $0.07 during trading hours on Monday, hitting $295.38. 364,458 shares of the company traded hands, compared to its average volume of 1,363,435. The firm's 50-day simple moving average is $281.02 and its two-hundred day simple moving average is $290.26. The firm has a market cap of $65.73 billion, a P/E ratio of 42.95, a P/E/G ratio of 5.66 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. Air Products and Chemicals, Inc. has a 1-year low of $243.69 and a 1-year high of $341.14.

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 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.83 by ($0.14). The business had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.94 billion. Air Products and Chemicals had a return on equity of 15.48% and a net margin of 12.76%. The business's revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.85 EPS. As a group, 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 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. This represents a $7.16 annualized dividend and a dividend yield of 2.42%. Air Products and Chemicals's payout ratio is 104.07%.

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.