AMI Asset Management Corp Sells 96,228 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

AMI Asset Management Corp trimmed its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 97.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,568 shares of the basic materials company’s stock after selling 96,228 shares during the quarter. AMI Asset Management Corp’s holdings in Air Products and Chemicals were worth $663,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GUNN & Co INVESTMENT MANAGEMENT INC. bought a new stake in shares of Air Products and Chemicals in the 4th quarter valued at $315,000. Larson Financial Group LLC grew its holdings in Air Products and Chemicals by 39.1% during the 4th quarter. Larson Financial Group LLC now owns 551 shares of the basic materials company’s stock worth $151,000 after acquiring an additional 155 shares during the period. GAMMA Investing LLC bought a new position in shares of Air Products and Chemicals in the 4th quarter worth about $371,000. Magnolia Capital Advisors LLC acquired a new position in shares of Air Products and Chemicals in the 4th quarter valued at about $1,299,000. Finally, Atria Wealth Solutions Inc. boosted its position in shares of Air Products and Chemicals by 4.8% during the 4th quarter. Atria Wealth Solutions Inc. now owns 20,424 shares of the basic materials company’s stock valued at $5,605,000 after purchasing an additional 928 shares in the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

Air Products and Chemicals Stock Up 0.5 %

Shares of APD stock traded up $1.43 during trading hours on Friday, reaching $275.86. The company had a trading volume of 514,167 shares, compared to its average volume of 1,682,664. The company has a market cap of $61.33 billion, a price-to-earnings ratio of 24.90, a price-to-earnings-growth ratio of 3.17 and a beta of 0.81. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.27 and a quick ratio of 1.31. Air Products and Chemicals, Inc. has a 12 month low of $212.24 and a 12 month high of $307.71. The business has a fifty day simple moving average of $266.97 and a 200-day simple moving average of $252.41.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings data on Thursday, August 1st. The basic materials company reported $3.20 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.16. The business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $3.04 billion. Air Products and Chemicals had a return on equity of 16.53% and a net margin of 21.24%. On average, research analysts expect that Air Products and Chemicals, Inc. will post 12.29 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 Tuesday, November 12th. Shareholders of record on Tuesday, October 1st will be given a dividend of $1.77 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $7.08 annualized dividend and a dividend yield of 2.57%. Air Products and Chemicals’s dividend payout ratio is currently 63.90%.

Wall Street Analyst Weigh In

APD has been the subject of a number of research analyst reports. UBS Group lifted their target price on Air Products and Chemicals from $276.00 to $281.00 and gave the stock a “neutral” rating in a report on Tuesday. Wells Fargo & Company raised their price objective on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Bank of America boosted their target price on shares of Air Products and Chemicals from $275.00 to $312.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Citigroup raised their price target on shares of Air Products and Chemicals from $280.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Air Products and Chemicals from a “buy” rating to a “hold” rating and decreased their price target for the company from $310.00 to $280.00 in a research note on Monday, July 22nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $297.40.

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.