Air Products and Chemicals, Inc. (NYSE:APD) Stock Holdings Lessened by Bahl & Gaynor Inc.

Bahl & Gaynor Inc. reduced its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 13.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,165,566 shares of the basic materials company’s stock after selling 187,368 shares during the quarter. Air Products and Chemicals makes up 1.7% of Bahl & Gaynor Inc.’s portfolio, making the stock its 18th biggest position. Bahl & Gaynor Inc.’s holdings in Air Products and Chemicals were worth $300,774,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Cape Investment Advisory Inc. lifted its position in shares of Air Products and Chemicals by 1.0% in the 1st quarter. Cape Investment Advisory Inc. now owns 3,740 shares of the basic materials company’s stock worth $906,000 after buying an additional 37 shares during the last quarter. First Citizens Bank & Trust Co. lifted its position in shares of Air Products and Chemicals by 0.4% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 10,906 shares of the basic materials company’s stock worth $2,814,000 after buying an additional 39 shares during the last quarter. Verdence Capital Advisors LLC lifted its position in shares of Air Products and Chemicals by 2.3% in the 2nd quarter. Verdence Capital Advisors LLC now owns 1,763 shares of the basic materials company’s stock worth $455,000 after buying an additional 39 shares during the last quarter. Stokes Family Office LLC lifted its position in Air Products and Chemicals by 3.4% in the 2nd quarter. Stokes Family Office LLC now owns 1,213 shares of the basic materials company’s stock valued at $313,000 after purchasing an additional 40 shares during the last quarter. Finally, Invesco LLC lifted its position in Air Products and Chemicals by 2.6% in the 2nd quarter. Invesco LLC now owns 1,581 shares of the basic materials company’s stock valued at $408,000 after purchasing an additional 40 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors.

Air Products and Chemicals Stock Performance

Shares of APD opened at $275.20 on Wednesday. The firm’s 50 day moving average is $269.40 and its 200-day moving average is $256.97. The stock has a market capitalization of $61.18 billion, a P/E ratio of 24.84, a P/E/G ratio of 3.58 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 1.10. 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 (NYSE:APD) last announced its quarterly earnings data on Thursday, August 1st. The basic materials company reported $3.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.16. The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $3.04 billion. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. Equities research analysts anticipate that Air Products and Chemicals, Inc. will post 12.32 EPS for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Tuesday, October 1st will be given a $1.77 dividend. The ex-dividend date 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 (DPR) is presently 63.90%.

Analyst Ratings Changes

Several brokerages recently weighed in on APD. Deutsche Bank Aktiengesellschaft downgraded shares of Air Products and Chemicals from a “buy” rating to a “hold” rating and cut their price objective for the company from $310.00 to $280.00 in a research report on Monday, July 22nd. The Goldman Sachs Group lifted their price objective on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, August 5th. StockNews.com downgraded shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research report on Friday, September 6th. Barclays lifted their price objective on shares of Air Products and Chemicals from $290.00 to $295.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Finally, Morgan Stanley lifted their price objective on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 5th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Air Products and Chemicals has an average rating of “Hold” and a consensus price target of $297.40.

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.