Russell Investments Group Ltd. cut its position in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 2.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 168,391 shares of the basic materials company's stock after selling 4,073 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.08% of Air Products and Chemicals worth $49,421,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the stock. Wayfinding Financial LLC purchased a new stake in Air Products and Chemicals in the first quarter valued at approximately $25,000. Cheviot Value Management LLC purchased a new position in shares of Air Products and Chemicals in the 1st quarter worth $27,000. Citizens National Bank Trust Department raised its position in shares of Air Products and Chemicals by 833.3% in the 1st quarter. Citizens National Bank Trust Department now owns 112 shares of the basic materials company's stock worth $33,000 after buying an additional 100 shares during the period. Sunbelt Securities Inc. raised its position in shares of Air Products and Chemicals by 525.9% in the 4th quarter. Sunbelt Securities Inc. now owns 169 shares of the basic materials company's stock worth $49,000 after buying an additional 142 shares during the period. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of Air Products and Chemicals in the 4th quarter worth $50,000. 81.66% of the stock is owned by institutional investors and hedge funds.
Air Products and Chemicals Trading Up 1.7%
NYSE APD opened at $294.23 on Thursday. The company's fifty day simple moving average is $287.09 and its 200-day simple moving average is $288.89. 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 current ratio of 1.29, a quick ratio of 1.12 and a debt-to-equity ratio of 0.93. The stock has a market cap of $65.48 billion, a P/E ratio of 42.34, a PEG ratio of 6.46 and a beta of 0.81.
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 EPS for the quarter, topping analysts' consensus estimates of $2.99 by $0.10. Air Products and Chemicals had a net margin of 12.86% and a return on equity of 15.11%. The business had revenue of $3.02 billion for the quarter, compared to analysts' expectations of $2.95 billion. During the same period in the previous year, the company posted $3.20 earnings per share. The business's revenue for the quarter was up 1.2% compared to the same quarter last year. Equities research analysts predict that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.
Air Products and Chemicals Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Wednesday, October 1st will be paid a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Wednesday, October 1st. Air Products and Chemicals's payout ratio is 103.02%.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on the company. UBS Group increased their target price on Air Products and Chemicals from $328.00 to $344.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Wall Street Zen raised shares of Air Products and Chemicals from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Royal Bank Of Canada started coverage on shares of Air Products and Chemicals in a research report on Friday, June 13th. They set an "outperform" rating and a $355.00 price target on the stock. Wells Fargo & Company lifted their price target on shares of Air Products and Chemicals from $320.00 to $345.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Finally, 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 on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Air Products and Chemicals currently has an average rating of "Moderate Buy" and a consensus target price of $335.07.
Get Our Latest Stock Report on APD
Insider Activity
In related news, VP Victoria Brifo sold 1,359 shares of Air Products and Chemicals stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $292.38, for a total value of $397,344.42. Following the completion of the sale, the vice president owned 8,686 shares in the company, valued at approximately $2,539,612.68. The trade was a 13.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.41% of the company's stock.
Air Products and Chemicals Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding APD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Air Products and Chemicals, Inc. (NYSE:APD - Free Report).
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