Asset Dedication LLC Sells 75 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Asset Dedication LLC cut its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 5.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,300 shares of the basic materials company’s stock after selling 75 shares during the quarter. Asset Dedication LLC’s holdings in Air Products and Chemicals were worth $387,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in APD. Capital Research Global Investors raised its stake in Air Products and Chemicals by 62.3% during the 1st quarter. Capital Research Global Investors now owns 11,230,051 shares of the basic materials company’s stock valued at $2,720,704,000 after purchasing an additional 4,309,040 shares during the period. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in Air Products and Chemicals by 4.2% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,062,859 shares of the basic materials company’s stock valued at $790,371,000 after buying an additional 122,676 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Air Products and Chemicals by 127.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,792,470 shares of the basic materials company’s stock valued at $720,597,000 after buying an additional 1,564,169 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Air Products and Chemicals by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 2,034,818 shares of the basic materials company’s stock worth $525,085,000 after buying an additional 5,140 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its position in shares of Air Products and Chemicals by 25.2% during the second quarter. Clearbridge Investments LLC now owns 1,936,582 shares of the basic materials company’s stock worth $499,735,000 after acquiring an additional 389,380 shares during the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on APD. Jefferies Financial Group upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and boosted their price target for the stock from $295.00 to $364.00 in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft cut Air Products and Chemicals from a “buy” rating to a “hold” rating and cut their price target for the company from $310.00 to $280.00 in a report on Monday, July 22nd. Barclays upped their price objective on Air Products and Chemicals from $290.00 to $295.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. JPMorgan Chase & Co. boosted their price target on shares of Air Products and Chemicals from $300.00 to $340.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, BMO Capital Markets increased their price objective on shares of Air Products and Chemicals from $300.00 to $323.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Air Products and Chemicals presently has a consensus rating of “Moderate Buy” and an average target price of $320.24.

Air Products and Chemicals Stock Performance

APD stock opened at $326.71 on Thursday. The firm has a market cap of $72.63 billion, a price-to-earnings ratio of 29.49, a PEG ratio of 3.87 and a beta of 0.82. Air Products and Chemicals, Inc. has a twelve month low of $212.24 and a twelve month high of $328.72. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.77. The business’s fifty day simple moving average is $287.49 and its two-hundred day simple moving average is $267.44.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings results on Thursday, August 1st. The basic materials company reported $3.20 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 the consensus estimate of $3.04 billion. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. Analysts predict that Air Products and Chemicals, Inc. will post 12.33 earnings per share for the current year.

Air Products and Chemicals 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.