Penserra Capital Management LLC Sells 961 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Penserra Capital Management LLC decreased its stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 30.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,236 shares of the basic materials company's stock after selling 961 shares during the period. Penserra Capital Management LLC's holdings in Air Products and Chemicals were worth $659,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in APD. Parvin Asset Management LLC bought a new position in shares of Air Products and Chemicals during the 4th quarter valued at $715,000. Ritholtz Wealth Management grew its holdings in shares of Air Products and Chemicals by 20.9% during the 1st quarter. Ritholtz Wealth Management now owns 1,603 shares of the basic materials company's stock valued at $473,000 after purchasing an additional 277 shares during the last quarter. Mantle Ridge LP bought a new position in shares of Air Products and Chemicals during the 4th quarter valued at $1,191,344,000. Proficio Capital Partners LLC bought a new position in shares of Air Products and Chemicals during the 4th quarter valued at $246,000. Finally, Allstate Corp bought a new position in shares of Air Products and Chemicals during the 4th quarter valued at $1,917,000. Institutional investors own 81.66% of the company's stock.

Wall Street Analysts Forecast Growth

APD has been the topic of several recent research reports. Wells Fargo & Company increased their target price on shares of Air Products and Chemicals from $320.00 to $345.00 and gave the company an "overweight" rating in a report on Monday. Citigroup increased their price target on shares of Air Products and Chemicals from $310.00 to $320.00 and gave the company a "buy" rating in a research report on Monday, June 30th. Morgan Stanley started coverage on shares of Air Products and Chemicals in a research report on Thursday, May 29th. They set an "equal weight" rating and a $290.00 price target for the company. Barclays dropped their price target 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. Finally, UBS Group increased their price target on shares of 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. Two investment 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $333.59.

Air Products and Chemicals Stock Down 0.3%

Shares of Air Products and Chemicals stock traded down $0.91 during trading on Monday, hitting $291.06. The company's stock had a trading volume of 616,976 shares, compared to its average volume of 1,358,950. Air Products and Chemicals, Inc. has a 52 week low of $243.69 and a 52 week high of $341.14. The company has a market capitalization of $64.77 billion, a PE ratio of 42.31, a P/E/G ratio of 5.60 and a beta of 0.85. The company has a fifty day simple moving average of $278.81 and a two-hundred day simple moving average of $290.19. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.85 and a current ratio of 1.00.

Air Products and Chemicals (NYSE:APD - Get Free Report) last announced its earnings results 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). Air Products and Chemicals had a net margin of 12.76% and a return on equity of 15.48%. The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the prior year, the business posted $2.85 EPS. Air Products and Chemicals's revenue for the quarter was down .5% on a year-over-year basis. Equities research analysts predict that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Tuesday, July 1st will be paid a dividend of $1.79 per share. The ex-dividend date is Tuesday, July 1st. This represents a $7.16 dividend on an annualized basis and a yield of 2.46%. Air Products and Chemicals's dividend payout ratio is currently 104.07%.

About Air Products and Chemicals

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.