QRG Capital Management Inc. Has $2.76 Million Position in Air Products and Chemicals, Inc. (NYSE:APD)

QRG Capital Management Inc. cut its position in Air Products and Chemicals, Inc. (NYSE:APD) by 56.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,682 shares of the basic materials company’s stock after selling 13,751 shares during the period. QRG Capital Management Inc.’s holdings in Air Products and Chemicals were worth $2,757,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC bought a new stake in Air Products and Chemicals during the 4th quarter worth approximately $27,000. Roble Belko & Company Inc bought a new stake in shares of Air Products and Chemicals during the fourth quarter worth $27,000. Sachetta LLC acquired a new stake in shares of Air Products and Chemicals during the 4th quarter worth approximately $27,000. Security National Bank bought a new stake in Air Products and Chemicals in the fourth quarter valued at about $27,000. Finally, Thompson Investment Management Inc. bought a new stake in Air Products and Chemicals in the first quarter valued at approximately $27,000. 81.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

APD has been the topic of a number of research reports. Morgan Stanley lifted their price target on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 5th. Barclays upped their target price on shares of Air Products and Chemicals from $290.00 to $295.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. The Goldman Sachs Group increased their target price on Air Products and Chemicals from $291.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, August 5th. UBS Group boosted their price target on Air Products and Chemicals from $257.00 to $268.00 and gave the company a “neutral” rating in a report on Tuesday, July 9th. Finally, Citigroup increased their price objective on Air Products and Chemicals from $280.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, July 12th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Air Products and Chemicals currently has an average rating of “Hold” and a consensus target price of $296.53.

Air Products and Chemicals Stock Performance

Shares of APD traded down $0.98 during trading hours on Friday, hitting $278.23. The company had a trading volume of 1,228,661 shares, compared to its average volume of 1,745,852. The firm has a market cap of $61.85 billion, a price-to-earnings ratio of 25.11, a PEG ratio of 3.17 and a beta of 0.81. The company has a quick ratio of 1.31, a current ratio of 1.27 and a debt-to-equity ratio of 0.77. The business has a fifty day moving average of $267.31 and a 200-day moving average of $250.74. Air Products and Chemicals, Inc. has a 12 month low of $212.24 and a 12 month high of $307.71.

Air Products and Chemicals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, October 1st will be issued a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date is Tuesday, October 1st. Air Products and Chemicals’s dividend payout ratio is presently 63.90%.

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.