Sequoia Financial Advisors LLC Cuts Position in Air Products and Chemicals, Inc. (NYSE:APD)

Sequoia Financial Advisors LLC trimmed its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 6.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 19,641 shares of the basic materials company’s stock after selling 1,422 shares during the period. Sequoia Financial Advisors LLC’s holdings in Air Products and Chemicals were worth $5,068,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in APD. Turtle Creek Wealth Advisors LLC bought a new position in shares of Air Products and Chemicals during the fourth quarter valued at $27,000. Cerity Partners LLC raised its holdings in Air Products and Chemicals by 48.4% in the fourth quarter. Cerity Partners LLC now owns 119,727 shares of the basic materials company’s stock worth $32,785,000 after buying an additional 39,072 shares during the last quarter. Sapient Capital LLC bought a new position in shares of Air Products and Chemicals in the fourth quarter worth approximately $572,000. ORG Partners LLC boosted its stake in Air Products and Chemicals by 80.6% during the 4th quarter. ORG Partners LLC now owns 3,385 shares of the basic materials company’s stock valued at $927,000 after purchasing an additional 1,511 shares during the last quarter. Finally, MV Capital Management Inc. boosted its position in shares of Air Products and Chemicals by 1.3% during the fourth quarter. MV Capital Management Inc. now owns 10,879 shares of the basic materials company’s stock valued at $2,979,000 after buying an additional 139 shares during the last quarter. 81.66% of the stock is owned by institutional investors.

Air Products and Chemicals Price Performance

Shares of NYSE APD traded up $1.14 during mid-day trading on Tuesday, reaching $275.07. The company’s stock had a trading volume of 123,488 shares, compared to its average volume of 1,732,996. 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 52 week low of $212.24 and a 52 week high of $307.71. The stock has a fifty day moving average of $267.37 and a two-hundred day moving average of $250.77. The firm has a market capitalization of $61.15 billion, a PE ratio of 24.72, a P/E/G ratio of 3.17 and a beta of 0.81.

Air Products and Chemicals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders 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 yield of 2.57%. The ex-dividend date of this dividend is Tuesday, October 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 63.90%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on APD shares. UBS Group boosted their target price on shares of Air Products and Chemicals from $257.00 to $268.00 and gave the company a “neutral” rating in a research note on Tuesday, July 9th. TD Cowen increased their target price on Air Products and Chemicals from $305.00 to $320.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Citigroup boosted their price target on Air Products and Chemicals from $280.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, July 12th. 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 report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Air Products and Chemicals from a “buy” rating to a “hold” rating and cut their target price for the company from $310.00 to $280.00 in a research report on Monday, July 22nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Air Products and Chemicals presently has an average rating of “Hold” and a consensus target price of $296.53.

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.