PFG Advisors Trims Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

PFG Advisors cut its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 11.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,228 shares of the basic materials company’s stock after selling 406 shares during the quarter. PFG Advisors’ holdings in Air Products and Chemicals were worth $833,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in APD. Capital Research Global Investors raised its position in Air Products and Chemicals by 167.2% during the 4th quarter. Capital Research Global Investors now owns 6,921,011 shares of the basic materials company’s stock worth $1,894,973,000 after buying an additional 4,330,471 shares during the last quarter. Norges Bank purchased a new position in Air Products and Chemicals during the fourth quarter worth about $852,288,000. National Bank of Canada FI raised its holdings in Air Products and Chemicals by 2,931.0% during the second quarter. National Bank of Canada FI now owns 1,796,531 shares of the basic materials company’s stock worth $444,352,000 after purchasing an additional 1,737,260 shares in the last quarter. Clearbridge Investments LLC lifted its position in Air Products and Chemicals by 50.6% in the first quarter. Clearbridge Investments LLC now owns 1,547,202 shares of the basic materials company’s stock valued at $374,841,000 after purchasing an additional 520,179 shares during the period. Finally, Scharf Investments LLC purchased a new stake in Air Products and Chemicals in the 1st quarter valued at approximately $87,173,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Trading Up 1.5 %

Shares of APD stock opened at $284.20 on Friday. Air Products and Chemicals, Inc. has a 1-year low of $212.24 and a 1-year high of $307.71. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.27 and a quick ratio of 1.10. The firm’s 50-day simple moving average is $271.06 and its 200-day simple moving average is $257.66. The firm has a market cap of $63.18 billion, a P/E ratio of 25.65, a PEG ratio of 3.70 and a beta of 0.82.

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, beating the consensus estimate of $3.04 by $0.16. The company had revenue of $2.99 billion during 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%. As a group, equities analysts forecast that Air Products and Chemicals, Inc. will post 12.32 EPS for the current year.

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 paid a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.49%. The ex-dividend date is Tuesday, October 1st. Air Products and Chemicals’s dividend payout ratio is currently 63.90%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. JPMorgan Chase & Co. raised their price target on Air Products and Chemicals from $300.00 to $340.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Barclays raised their target price on Air Products and Chemicals from $290.00 to $295.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Wells Fargo & Company upped their price target on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. BMO Capital Markets raised 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 note on Monday, August 5th. Finally, StockNews.com lowered shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research report on Friday, September 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Air Products and Chemicals presently has a consensus rating of “Hold” and a consensus price target 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.